Many of us have heard of prenuptial agreements and for more information check out a Geezeo article here. But postnuptial agreements are not as common as prenups, but are constantly growing in popularity.

Often times couples do not want to ruin a marriage before it already begins with the discussion of a prenup agreement. However, after the wedding, if things are not what you had thought they would be or things are not going so well, maybe it is time for you to consider a postnuptial agreement instead.

According to an article about on TheStreet.com, there are several reasons why a couple might enter into a postnuptial agreement or contract:

- Protection against a spouse that has treated you wrong in the past. Sometimes couples sign this because they want to work through their past and things that have happened. However, having this agreement in place if things go wrong allows both to leave with something and not focus on money.

- Both individuals want to know about the others finances. Having a postnuptial agreement puts everything on the table so that there are no secrets between the two of you.

- Sometimes people entering into second marriages want to make sure their children receive the correct assets in case anything goes wrong.

- The most obvious reason for a postnuptial?…Because you just didn’t get around to signing a prenuptial agreement before you were married.

A postnuptial agreement states everything clearly so that both individuals know what will happen if the marriage does not end up lasting. This can save you a lot of money in the long run. An article on MainStreet.com by Shira Levine talks about how a lawyer can easily cost $5,000 for just 10 hours of arguing. Once you put a third or fourth party in the middle of things the arguing and trying to figure things out can last for an extremely long time.

Although you may think that bringing up a postnuptial agreement will make things worse, they may do just the opposite. Make sure to sit down with your spouse to work through things and talk about signing a postnuptial agreement. Postnuptial agreements have been seen to save troubled marriages when the worrying about money is off the table.

Both prenuptial and postnuptial agreements can save you a lot of time and money in the long-run. Review the pros and cons of each to figure out if this is what you should consider. Even those couples who have no trouble in their marriage might consider signing an agreement to avoid worrying about money. Do what you think will work best for you!

Photo: Michelle Kwajafa

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When Can a Prenup Be Overturned?
Would You Marry for Health Insurance?
Is 8/8/08 Lucky For Weddings?

In China, 8 is an extremely lucky number and is said to bring with it wealth and good fortune. This is probably one reason why the Olympics also start today where 8 repeats itself 3 times!

So, with number 8 being lucky, you can also see why so many couples are excited to get married today.

According to an article on MainStreet.com, weddings are up 545% today, compared to the average number of Friday August weddings. The funny part is, usually weddings are slightly discounted if you have them on a Friday vs. a Saturday because it is harder for people to attend due to work and other priorities.

The average wedding costs $27,852 for an average day. But on a day like 8/8/08 you can see why the supply and demand make the costs rise. Not only do you have to plan to spend more for such a premium date, you also have to plan well in advance otherwise the venue, photographer, and time that you want may not be available.

From an article on MSNBC.com, couples are just stopping with the 8/8/08 date. They are continuing the number 8 throughout their entire wedding including 8 course dinners, 8 bridesmaids, an 8:08pm first dance time, the list goes on!

Will we see this trend continue throughout the next few years? My prediction is yes. With 9/9/09 only 13 months away, people really need to start planning this wedding now. Although it doesn’t hold the same luck as 8/8/08, people are still looking forward to it.

My friend from England is getting married on Oct. 9th next year. Our first question is why she didn’t choose 9/9/09 instead…her reply? So many of the venues she was looking at are already sold out. Although she may have enjoyed it, it seems as though people were ahead of the ball and thought about this date much before her, maybe after they couldn’t get their 8/8/08 date…?

The downfall also with the 9/9/09 wedding?…It is on a Wednesday. If you thought it was hard for people to attend your Friday wedding, it will be much harder to allow people to take a few days off for a Wednesday wedding.

I understand the fascination about an 8/8/08 wedding…and believe me if I was getting married I’m sure that the thought of this specific date would cross my mind as well. However, just be sure that you take into consideration your budget when planning your wedding. You don’t want to get so caught up that you over-spend and afterwards have to find a way to pay off the bills.

Congratulations to anyone who may be getting married today! And hope the lucky 8 works for you!

Photo: Charmaine Swart

Related Links:
Prenup Agreement…Is It For You?
How To Do Throw A Great Do-It-Yourself Wedding
Tips on How To Throw a Green Wedding

Marriage is a happy time in people’s lives…so why would you want to ruin this with the discussion of a prenuptial agreement? The truth is, more and more couples are choosing to settle financial differences before they get married.

According to BankRate.com, 1 in 3 first marriages end in divorce and about 50% of people’s second or third marriages end in a seperation as well. This isn’t a happy statistic, I will give you that, but smart financial planning may lessen the emotional toll that comes with a separation.

In short, a prenup agreement tends to separate financial assets in case of a divorce. This way if something happens, your finances are treated as though you were never married and those assets that were shared are divided equally.

Think of a prenup agreement as a type of marriage contract. You want to make sure that your agreement is written correctly. In the event that a prenup is not enforceable by law, you may find yourself losing some of your hard earned assets.

According to an article from our partners on BankingMyWay.com, it is suggested that you and your significant other should get representation from two separate attorneys so that your interests do not conflict with one another. This way, everything is kept separate. It is also best to talk about a prenup agreement fairly far in advance. You do not want this to be a discussion or decision that comes up only a week before the wedding ceremony!

Since prenup agreements are not an easy decision to make and may have many conflicting interests, it can cost between $1,000 and $50,000 depending on your lawyer and how long the agreement takes….which could be weeks or even months!

Pros:

* Puts all financial expectations on the table before marriage
* Will avoid more hardships in the case of a divorce
* Often protects the well-being of children from a previous marriage
* Sometimes can make couple stronger (no financial secrets; puts everything on the table)

Cons:

* Not a “happy” discussion before you get married
* Can create hardships between the couple
* Can be expensive depending on how much your lawyer charges
* Don’t want to have to think about divorce before you even get married

Although prenuptial agreements have many times been viewed as a contract for celebrities or millionaires, many “everyday people” are considering these as well. It is something that you should really think through with your significant other to decide whether the agreement is for you. Make sure to consider all of the pros and cons in your own mind before making this important life decision.

Photo: Dani Simmonds

Friday night is here — are you going out on the town or snuggling up with your honey? With marriage season upon us, MainStreet.com asks, “Would you marry for health insurance?”.

Kudos to an Onion-worthy video headline: “People Marry for Love Occasionally”.

Saving for a wedding? Check out this Geezeo group.