Prenup vs Postnup Marriage Agreement: What’s the Difference?

For most, getting married and starting a new life together with your significant other is a life-long commitment and one that rings with the promise of lasting joy and forever happiness. Sadly enough, however, this is not the reality for some 42% of marriages in the UK that end in the dreaded “D” word – divorce. 

Far from the romantic cry of the white wedding, marital agreements are the pragmatic solution to settle the remains of the day once the wanderlust has worn off. So what is a prenup, and what is a postnup agreement?

In a nutshell, a prenuptial and postnuptial agreement is a contract that is drawn up either before or during a marriage, outlining how the assets and the property will be divided if the marriage decides not to go the distance. For example, without a marital agreement, the starting point for the splitting of assets upon divorce is 50:50.

It is of noteworthy importance to mention that signing a prenup is a good idea if one or both members of the couple have a significant amount of assets, are expecting a large inheritance, have a large estate, or have children from a previous marriage/ courtship. 

What is a Prenuptial Agreement?

As the word states, a prenuptial agreement is an agreement that is signed before parties enter into marriage or a civil partnership and is the blueprint for how the assets will be divided after divorce. 

A prenuptial agreement should be signed by both parties at least 28 days before marriage. Within a prenup, you are required to set out your individual assets at the time of signing. 

This agreement details precisely how the assets are to be divided should the marriage come to an end. This includes money, investments, and property. 

Money can become a massive contention and a major source of conflict for couples going through a separation. So, finding an agreeable balance of asset splitting, done with the right expert attorney, can make the process all that much easier. 

What is a Postnuptial Agreement?

Similar to a prenuptial agreement, a postnuptial agreement is a contract that is set down to divide a couple’s assets should the marriage or civil partnership break down. A postnuptial agreement, however, is signed by both parties after the marriage or a civil partnership has been entered into. 

What Should Marital Agreements Include?

Both parties should include the following:

• The current property you reside in 
• Any inheritance and family trust(s)
• Child maintenance payments
• Business assets
• Debts
• Personal and/or sentimental items and valuables

One thing that marital agreements cannot include is a custody agreement for any current or future children. This cannot be determined at the time of signing and will be dealt with when the appropriate time arises. 

Can a Nuptial Agreement be Amended at a Later Date?

It is recommended that once every few years partners review their nuptial agreements to ensure that they are a true reflection of the couple’s asset collection. If changes are made to a prenuptial agreement after the parties have been wed, the agreement now becomes a postnuptial agreement.