Legal Definitions - postnuptial settlement

A postnuptial settlement, also known as a postnuptial agreement, is a legal agreement made between spouses during their marriage to define each spouse's property rights in the event of death or divorce. It is similar to a prenuptial agreement, but it is made after the marriage has already taken place.

The purpose of a postnuptial settlement is to establish how assets and property will be divided in case of a divorce or separation. It can also address other issues such as spousal support and child custody.

For example, a couple may decide to create a postnuptial settlement after one spouse inherits a large sum of money or property. The agreement would outline how that inheritance would be divided in case of a divorce.

Another example is if one spouse starts a business during the marriage. The postnuptial settlement would establish how the business would be divided in case of a divorce.

Overall, a postnuptial settlement is a way for couples to protect their assets and property in case of a divorce or separation. It is important to consult with a lawyer to ensure that the agreement is legally binding and enforceable.