Jul 22, 2005 11:28 pm US/Central
Post-Nuptial Agreements Gain Popularity
More Couples Signing Contracts After Saying "I Do"
by Derrick Blakley
CHICAGO (CBS) ―
We have all heard of pre-nuptial agreements, now post-nuptials are becoming popular. More couples are signing contracts after they say "I do." CBS 2's Derrick Blakley shows us if these deals are a sign of a rocky road or if they actually ensure smooth sailing ahead.
It is not unusual for couples to spend months planning their marriage. But after they have wed, more and more partners are also taking time to plan for their possible break-up, through post-nuptial agreements.
"There has been an absolute explosion in the number of post-nuptial agreements," said attorney Arlene Dubin.
"We have seen an increase in post-nups of 30 to 40 percent over the past year," said Chicago attorney Michael Minton.
Unlike the better known pre-nuptial agreements, post-nuptials are signed during a marriage, and spell out a couple's rights, duties, and obligations in case the marriage ends. Experts say asking for one should not be seen as a sign of trouble.
"What it signifies to me is these people are communicating and cooperating and they're discussing these issues and not leaving them up to chance," Minton said.
Chicago attorney Michael Minton should know. He drew up the post-nup for Michael and Juanita Jordan.
But you don't have to be like Mike -- rich and famous -- to use a post-nup. They make sense at any income, because as time passes, situations change.
"There could have been a financial windfall or a financial reversal. It could be the parties are having children," Dubin said.
Post-nuptial agreements are particularly useful and increasingly popular for partners in a second marriage where issues of property division, children's inheritance, and care for multiple sets of loved ones can be especially complex.
Emmy Zuckerman and her second husband are signing one. it gives Emmy peace of mind that her children will be cared for, especially Holly, who has autism.
"We wanted to protect what was mine for my kids and what was his for his children," Zuckerman said.
A simple post-nuptial can cost as little as $2,000. But it can not spell out child support or child placement. Only courts can determine that. And when drawing one up, each spouse must have their own attorney. Otherwise...
"There's too much opportunity for undue influence or duress. I'm not going to marry you unless you sign this agreement," Minton said.
Emmy Zuckerman says she and her husband have spent a lot of time talking about their post-nup. He's fully behind it, which makes her love him even more.
"If the marriage is comfortable and if the parties share the same goals, then it is a very easy thing to do," Zuckerman said.
Bringing up the subject can be tricky. Experts say it is natural to feel hurt or defensive if your spouse wants a post-nup, but ask questions, stay calm, and give your spouse a chance to explain the purpose behind it.
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