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Can You Update a Prenup?
Most people don’t get married knowing that the relationship is not going to work out. However, while you may go into your marriage hopeful that it lasts, it’s in your best interest to have a prenuptial agreement before the marriage. A prenuptial agreement, also known as a prenup, allows you to state what property is yours and what property rights you’ll have should you decide to end the marriage, along with other terms. However, things may change after you’ve created the initial prenup, and you may wonder if there’s any way to change it to reflect your current situation.
Fortunately, it is possible to update a prenup or even revoke one completely. However, should you need to change your prenup, you’ll need your spouse’s permission to do so. You both agreed to the terms and conditions listed in your prenuptial agreement, so it isn’t up to you alone to change it. Prenups cannot be modified when the couple is separated or going through a divorce. Some prenups may also contain provisions for adding amendments or revoking the agreement.
Reasons to Update Your Prenup
If you have a prenup, you might never need to change it. However, this may become necessary for some. Here are a few reasons why someone might want to update their prenup.
- You Had Children – If you didn’t have children prior to your marriage, you may not have accounted for having a family in your prenuptial agreement. Of course, having children is a major life event and the prenup may be modified to include the children.
- You Have New Property – During the course of a marriage, the property each spouse owns could change. If one spouse owns a new property that wasn’t in the original prenup, they may want to modify the agreement to include it.
- You No Longer Want a Prenup – In some cases, spouses may decide they no longer want the prenup at all. If both parties agree to it, it can be revoked.
What If You Didn’t Have a Prenup, But Want One After Marriage?
In addition to modifying or revoking a prenup, if you never had one created prior to marriage, you might be considering implementing something similar now. A prenuptial agreement is created prior to marriage and goes into effect once the marriage is official. If you’re already married, you’re no longer able to create a prenup. However, you can still protect your property in the event that you and your spouse separate. This can be done through a postnuptial agreement, which is an agreement you can enter into with your spouse after you’re already married. Like a prenup, a postnup can be modified later if both parties agree to the changes.
A Family Law Firm That Can Help with Prenups and Postnups
You want to ensure that the property that’s yours will always be protected, even if you don’t have a reason to believe that your marriage will end. At Martin Heller Potempa & Sheppard, PLLC, we know how important it is to protect what’s yours, and we’re here to help. If you have questions about creating a prenuptial or postnuptial agreement, our family law attorneys can provide answers and walk you through the process.
Contact us today for more information on prenups and postnups.
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