Family Law Matters BlogA postnuptial agreement (“postnup”) is an agreement entered into by a couple after marriage. The agreement can cover a range of topics from lifestyle issues to the couple’s wishes if they choose to divorce. A postnup, like a prenup, is designed to protect the marriage and provide the couple with security. Because it is a legally binding agreement, a postnup must conform to certain requirements based on the state in which it is enforced. While couples often choose to work with an attorney to execute a postnup, some couples try to do it on their own. This was the case in the recent Ballesteros decision. Continue Reading
Articles Posted in Prenuptial and Postnuptial Agreements
Challenging Maintenance Provisions in a Prenup: The Real “Big Bang”
Prenuptial agreements can include many different areas, including maintenance arrangements in the event of a divorce. Specific requirements and limitations on maintenance provisions vary from state-to-state. A celebrity prenup has recently come into the news because one spouse is challenging the maintenance provision of the agreement and requesting a modification. It does not appear that he is challenging the prenup itself, just the maintenance provision. Continue Reading
Prenup Durability and the Importance of Independent Counsel: The Ken Griffin Divorce Case
Ken Griffin, considered Illinois’ richest man and worth billions, has recently settled his divorce case right as the trial over his prenuptial agreement was set to begin. Griffin and his estranged wife have been in a divorce battle for over a year. The main issue was the validity of a prenuptial agreement the couple had executed.
Although the final prenuptial agreement was not signed until the day before the couple’s wedding, the court ruled that the agreement is valid. This case is a great example of how hard it is to challenge the validity of a prenuptial agreement. The court will look at many factors in making the determination. Continue Reading
Choosing an Attorney for your Prenup: Understanding the Value of an Experienced Attorney
The popularity of prenuptial agreements is on the rise for couples of all ages. A prenup can be just as important to couples on their first marriage and in their 20’s and 30’s, as it is to individuals on a second or third marriage and in their 40’s, 50’s and 60’s (and on up). Today, many couples want to establish property and financial rights before marriage. The content of the agreement is unique because it is based upon the couple’s particular goals and financial situation. If a prenup is properly prepared, future disputes over money and other issues can be avoided. Many people think of a prenuptial agreement as a contract like any other. That is not exactly the case. Because of the delicate nature of prenuptial agreements and the relationship of the parties, it is much more than just a contract. In addition to general contract principles, prenups come with a set of rules and regulations all their own. For that reason, how a couple arrives at agreement and how the prenup is drafted is extremely important.
I’ve Decided I Want a Prenup – Now What?
As I reviewed some of my previous blogs, I realized my next piece would be an important one because it is my 50th blog post! A while back, I set out to write and post quality pieces on different topics and issues within family law. Looking back on some of my more popular posts, I realized that prenups have become a very popular talking point. In the past, I have covered areas on why people should consider prenups, new and different types of agreements, and more. Then I realized: I haven’t yet discussed what happens after someone decides to actually get a prenup. Once you make the decision to start the prenup process, what do you do?
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Prenups 101: Back to Basics!
After working on a variety prenups for all different types of clients over the years, I’ve realized that no matter the situation, everyone can benefit from some basic information on prenuptial agreements. I wanted to provide answers to some of the more commonly-asked questions I receive from clients.
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The Best Interest of the Pet: Custody of the Pet is Real!
It happens all the time: a couple starts getting serious and may start making major purchases together. For some couples it may be furniture or a car, but many couples also choose to purchase or adopt a pet. While the relationship is going smoothly, everything is fine; but what happens when the couple breaks up? A big problem that arises in a breakup
or divorce is where the pet will go. According to recent stories in the news, custody cases involving pets are on the rise in the United States. You might know of someone who went through this issue after a breakup – the former couple ends up disagreeing on whom the pet actually belongs to and who should get to keep it. However, it is possible to address these concerns in a prenuptial agreement, preventing hostile and potentially costly disagreement in the event of a breakup.
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As Less Couples Say “I Do,” More Couples Opt for No-Nups
I’ve blogged before about different elements of pre-nups and how to approach making one with your significant other. However, the focus of pre-nups is usually about opening up communication channels and building a foundation for a healthy marriage. I recently read an article in the New York Times which focused on “no-nups” – agreements that couples enter into without an upcoming wedding. The no-nup is essentially a cohabitation agreement which is a legal agreement made by two people choosing to live together. As fewer couples look to walk down the aisle, cohabitation is becoming more commonplace. Although a no-nup may be formed for a couple with no intent to marry, the underlying principle remains the same – for each party to know “where they stand” and to be protected no matter what the relationship may bring.
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Be Careful What You Post Because You Might Just Get a Fine!
Most of us have listened to friends complain about an unflattering picture that their significant other posted of them on a social media site. In this digital age, people not only take more and more pictures of everyday events, but people are sharing the images through Facebook, Instagram, and any other social media sites they can get their hands on. Maybe your friend’s significant other catches them at a bad time but loves the picture and posts it anyway – your friend gets mad, but then it usually blows over, right? Couples are now entering into agreements that can prevent this whole ordeal in the first place – the “Social Media Pre-Nup.”
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It’s Not All about the Dress: 5 Reasons Brides Should Consider a Pre-Nup
It’s no secret that saying the word, “pre-nup” to a newly engaged person often brings on a whole range of emotions. To many people, suggesting a pre-nup is effectively the same as questioning their loyalty to their future husband or wife. There is often an assumption that suggesting a pre-nup basically amounts to telling your future spouse to prepare in advance for the marriage to fail. However, pre-nups provide a wide range of benefits to each person and can also be a valuable communication tool between future spouses. When I hear of newly engaged couples spending hours and exorbitant sums of money on hall rentals, flowers, and wedding attire, it boggles my mind that important conversations about finance and future lifestyles are very often avoided. A pre-nup can be more than just an agreement; it can be a process that allows the engaged couple to discuss ideas, concerns, and expectations for the relationship, which can help reduce stress and help to build a strong relationship moving forward.
Pre-nup is short for prenuptial agreement and provides a framework for distribution of assets in the event of the marriage dissolving. It can also spell out the rights and responsibilities of each party. This is an official definition that people turn to when discussing the possibility of a pre-nup, but it is important to understand that any definition you look at simply scratches the surface of what a pre-nup can do for you. Because a pre-nup, much like any agreement, will be tailored specifically to you and your future spouse, it can be hard to spell out exactly what every benefit will be.
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