What Are Reasons That Spouses Try to Renegotiate Prenuptial and Postnuptial Agreements?
More than ever before, American couples are using prenuptial and postnuptial agreements to protect their interests and avoid expensive battles over financial matters if they divorce. While some of these documents remain in force as long as the marriage lasts, it is important to remember that marital agreements are just like any other contracts and can be revised if both parties consent to the changes.
Reasons that spouses attempt to renegotiate prenuptial and postnuptial agreements include the following:
- Shifts in financial circumstances — An unexpected financial windfall or loss could drastically affect the way spouses approach alimony and property division in a potential divorce. Terms that previously seemed fair could be considered unconscionable based on later developments, so sometimes it is worthwhile to revise an agreement so that there is not a problem enforcing it later.
- Lifestyle changes — When a couple approaches marriage, each individual might intend to stay in their existing job and might negotiate an agreement that minimizes or rules out spousal maintenance. However, one party could end up putting their career on hold to raise children and take care of the home. In other cases, a serious medical condition could force someone out of work.
- Concerns related to blended families — News reports regarding a possible revised marital agreement for Donald and Melania Trump focused on the former First Lady’s efforts to secure a suitable trust for their son, Barron. The division of wealth among children can be quite complicated if someone has children with more than one partner. Spouses in blended families can clarify provisions relating to trusts and estates by updating their prenuptial or postnuptial agreement.
- Suspicions of marital misconduct — A serious marital crisis sometimes changes the perspective of husbands and wives. If the likelihood of divorce increases due to an affair, financial misconduct or something else, it could be in your best interests to adjust terms of an existing prenup or postnup as part of the reconciliation process.
If you’re considering changes to your prenuptial or postnuptial agreement, a good first step is to speak with an attorney who has successfully negotiated and renegotiated these documents for couples in all types of circumstances.
At Bryan L. Salamone & Associates, P.C., our Long Island lawyers advise clients on the drafting, revision and enforcement of marital agreements. You can schedule a consultation about your legal options by calling 1.631.479.3839 or contacting us online.