Marrying couples often use a prenuptial agreement to set out how their assets should be divided in the event of a divorce.
But according to one expert, postnuptial agreements are now becoming increasingly common in the US.
In an article for the Daily Breeze, Stephanie Enright, a consultant at Enright Premier Wealth Advisors in California, said these documents address developments that may occur after marriage.
"The agreement may be used to address acquisition of major assets or a sizable inheritance, or to determine how a successful business' value will be split if it's sold," she explained.
Couples may also use them to resurrect their relationship by putting in place agreements on spending activity and financial management or outlining each spouse's roles and responsibilities, for example.
For unmarried couples, a cohabitation agreement may provide similar safeguards by setting out who owns what, how bank accounts and other assets should be divided and who is responsible for which common expenses.
Posted by Christopher Evans
Published on: April 22, 2010