Prenuptial Agreement
A prenuptial agreement is a signed writing in contemplation of marriage. It becomes effective immediately once a couple marries. Prenups are one way for couples to have a preset agreement on who gets what and how assets are labeled in case of a divorce.
To be valid and enforceable, a prenup must meet certain requirements. A prenup isn’t necessarily for the wealthy only. Even those with limited assets benefit from having a prenup.
Postnuptial Agreement
A postnuptial agreement is a signed writing entered into after marriage. It becomes effective once the judge declares it valid. Postnuptial agreements are also one way for couples to have a preset agreement on who gets what and how assets are labeled in case of a divorce. They can change the character of community and separate property assets and debts as well in such agreement.
To be valid and enforceable, a postnuptial agreement must meet certain requirements.