Detroit Free Press
February 3, 2003

An Alternative After the Marriage: A Postnup
BY PAMELA YIP; KNIGHT RIDDER-TRIBUNE

Prenuptial agreements have stolen the spotlight from their lesser-known cousin, the postnuptial agreement.

As its name implies, the postnuptial agreement is crafted after a marriage has taken place. But the purpose is similar: to clarify who owns what.

"People want to clearly define the character of an asset or the division of proceeds," said Janet Brumley, a family law attorney and partner at Verner & Brumley in Dallas.

Postnuptial or partition agreements aren't as common as prenuptial contracts, Brumley says.

"A lot of people develop a postnuptial when they have a major lifestyle change, and a lot of that happens after marriage," said Courtney Knowles, spokesman for the Equality in Marriage Institute in New York.

A large inheritance leads some couples to draw up a postnuptial agreement. A postnup can also be beneficial when one spouse belongs to a business partnership, Knowles says. Such a legal agreement might help ensure that the assets of the business would not be split in the event of divorce.

It is especially important for both spouses to be represented by their own lawyer when negotiating a postnuptial agreement, Knowles says.

"Postnups are held to more scrutiny than prenups because you're already in a marital relationship," he said. "There's so much sensitivity around the issue of two married partners developing a contract, and you do want to make sure that the document is legally valid by both being represented by your own counsel."