A recent Wall Street Journal highlighted the increasing use of “postnuptial agreements.” Postnuptial agreements are similar to prenuptial agreements but they are entered into between spouses after marriage, rather than before. The scope of what a postnuptial agreement may accomplish is more limited than a prenuptial agreement and the enforcement is more scrutinized by the courts than prenuptial agreements. Postnuptial agreements remain relatively untested in Nevada, but may be useful in certain instances.
Reasons for a postnuptial agreement vary. Sometimes, spouses either did not have time or give proper consideration to entering a prenuptial agreement. A postnuptial agreement may also be used to modify or update a prenuptial agreement. Sometimes, one spouse may want to take advantage of an infidelity or other marital misconduct by obtaining a larger portion of community assets. A spouse may offer a generous postnuptial agreement to show his or her commitment to the marriage. It is also common for a married couple to use a postnuptial agreement as part of a broader estate planning tool.
As with a prenuptial agreement, both parties should be represented by counsel, there should be full disclosure of finances and it should be fair.