On behalf of Stange Law Firm, PC posted in Property Division on Wednesday, January 29, 2020.
Just hearing the term property division typically strikes fear into the hearts of all Missouri residents getting divorced. The process is often messy, intimidating, stressful and emotionally devastating. However, it is an important part of getting divorced. Leaving the matter to chance could leave one spouse in financial trouble after the marriage has ended.
Those who enter matrimony with a prenuptial agreement in place have a good chance of reducing the negative fallout associated with property division. Unfortunately, most people do not have this important legal document in place at the time of divorce.
With that said, residents in and around Saint Louis County can still acquire the benefits of a prenup by having an attorney draft a postnuptial agreement during the marriage. The financial and other advantages of creating a postnup agreement include:
- Simplifying your divorce in general
- Making the property division portion of divorce much smoother
- Ensuring that one spouse is not responsible for certain debts incurred by the other spouse
- Defining spousal support parameters far in advance of the divorce
Property division is nearly always one of the most complicated elements of divorce and typically affects the entire family. Anything you can do to minimize these complications before and during your divorce will bring you great peace of mind.
Even if you are not sure your marital problems will lead to a split, it is wise to speak with a lawyer about setting up a postnuptial agreement. Simply hoping for the best is not a good way to handle the property division part of your divorce. Consider taking a proactive approach to protecting your finances instead.