Monday, March 14, 2016
The humble prenuptial agreement has been all the rage the last few decades due, in no small part, to frequent appearances as a plot point in film and television combined with the occasional messy celebrity divorce that was prenup free. In short, everyone knows what a prenuptial agreement is. But it's long forgotten sibling is finding center stage these days as wealthy couples use the postnuptial agreement in more and more circumstances. Most commonly, the postnup is used to modify a prenuptial agreement but it can also be handy for punishing a wayward spouse that is being given a second chance or, on the opposite tack, when one spouse is stepping up to show additional commitment to a relationship. In addition, a postnup can be used to protect assets that enter into the marriage such as shares in a family business. In any event, this type of agreement is on the rise and will likely play a bigger part in family law and estate planning as more couples adapt to changing circumstances during a marriage with new arrangements.
See Veronica Dagher, Why Postnuptial Agreements Are on the Rise, The Wall Street Journal, March 10, 2016.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.