Although a post-uptial deal may be a smart option for some couples, they usually don`t come cheap. To avoid conflicts of interest, each spouse needs their own legal representative to draft the contract, which can result in significant legal fees. Investopedia recently published an article entitled „Prenup vs Postnup: How Are They Different?“ He explains that divorce or death could lead to serious financial difficulties if you or your spouse are well off or foreshadow a large inheritance or you marry for the second, third or fourth time. In the event of death, these issues may be greater when the spouse leaves children from a previous marriage. For this reason, more couples opt for a conjugal or post-uptiale agreement. In England and Wales, post-marriage agreements are not strictly binding in the event of divorce or subsequent dissolution. However, in the case of a dispute dealt with by the Tribunal, an agreeable agreement may be decisive, unless the effect of the agreement is abusive. Often an inheritance is considered non-marital and therefore not at hand, especially if it is a short marriage. And timing is important. Was the inheritance received before or during the marriage or separated as a couple? Although Sophie inherited before the wedding, it could be bad news if she and Bob split up after a long marriage. It depends on what happens in the meantime with the inheritance.
Will the couple mix it with their marital property? Will they keep it separately? Even in some non-municipal real estate states like Pennsylvania, any increase in the value of the estate is considered a marital property, says Shemtob. So if the woman made a million dollars and went up to $3 million during the marriage, the $2 million benefit would belong to both spouses. A post-nup is a way for the spouses to agree that the entire sum will remain with the original heir. Because these contracts are less common than marital agreements, some states simply do not have much jurisprudence to endure. That is why it is important to have a local family lawyer, who can help negotiate an agreement that will hold in court. Everyone has their own personal reasons for the inclusion of a post-marriage arrangement. Some simply like to be as organized financially as possible, or perhaps where there has been separation and reconciliation. However, post-return agreements could be particularly beneficial in cases where: although they are unable to circumvent the authority of the Court of Justice, post-marital agreements have become more persuasive in financial proceedings when the share of assets is challenged.
To the extent that you and your partner have provided independent legal advice, a full and open financial disclosure has been made and the document has been drafted and executed correctly, it is likely that the agreement will be considered by the Court of Justice. Inheritances that a spouse received during the marriage are generally not considered to be common property.
