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Simple English definitions for legal terms
postnup
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A quick definition of postnup:
A postnup is a special agreement that a married couple makes to decide who gets what if they ever get divorced or if one of them dies. They usually make this agreement when they are still happy together and not planning to separate. If they make the agreement when they are planning to separate, it is called a property settlement or marital agreement. It is also sometimes called a postnuptial settlement. This is different from a prenup, which is an agreement made before the couple gets married.
A more thorough explanation:
Definition: Postnup is a slang term for postnuptial agreement. It is an agreement made by a married couple during their marriage to determine their property rights in case of divorce or death.
For example, if a couple decides to create a postnup, they may agree on how to divide their assets and debts if they get divorced. This agreement can also include provisions for spousal support and child custody.
It is important to note that a postnup is different from a prenuptial agreement, which is made before the marriage. A postnup is made during the marriage when the couple is not planning to separate or divorce.
Overall, a postnup can provide clarity and protection for both spouses in case of unforeseen circumstances.