A postnuptial agreement is not the most romantic thing to do in marriage, but it can be nonetheless useful down the road. In a nutshell, this written contract settles all the affairs between you and your spouse as a couple in the event of divorce or death. In New Mexico, a postnup has limitations, but the judge would accept your agreement if everything it contains is legally allowable.
While many may frown upon the idea, this agreement is handy and may even save you from a world of trouble later on. Even if you firmly believe that a nuptial is an eternal covenant between two persons in love with each other, you cannot deny that separation is always a possibility.
According to experienced divorce attorneys in Albuquerque, Santa Fe, and Las Cruces, here are some of the ways a postnup can ease your divorce:
This agreement clearly determines the assets both parties own conjugally and separately. You may not mind now to share each of your properties together, but the moment your relationship becomes ill, both of you might fight tooth and nail to keep everything possible.
This contract identifies which goes to whom, and provides a precise guideline on marital property division both parties can rely on.
A postnup helps protect each party against having the responsibility to settle your spouse’s pre-existing debts. It frees the non-debtor party from any financial obligation. As money is a vital matter in most divorces, it is important to finalize this issue beforehand.
This contract gives you and your spouse an understanding when it comes tax returns, life insurance policies, and retirement accounts among others. Anything both of you may have a mutual interest in can be discussed early on to avoid unnecessary stress and confusion in the event of divorce.
This contract is practical and legally binding. Preparing a postnup does not mean you hope the worst for your marriage, but it is a realistic approach to deal with the specter of divorce.