Already Married? Not Too Late to Define Property Belonging to Each Spouse
A post-marital, or postnuptial, agreement is a contract that outlines how a married couple?s property and assets must be divided in the event that the marriage comes to an end, which can be through legal separation, divorce (dissolution of marriage), or death. Because a well-crafted postnuptial agreement delivers the same benefits as a prenuptial agreement, it is increasingly common, and wise, for married couples to consider and create these agreements, as they help set and define clear expectations and mitigate or eliminate any misunderstandings.
Our experienced California postnuptial agreement (often called a ?postnup?) lawyers can assist with the writing and review of post-marital agreements. We invite you to contact our firm to speak with one of our attorneys about how we can assist you with the process.
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The Benefits of Post-Marital Agreements
A change in financial circumstance is one of the most common reasons for creating a post-nup agreement. This is often the case when for example, one spouse completes and advanced degree and obtains a higher-paying position, or there is a change in the extended family, or in many instances, when closely-held and family businesses see a change in the participation in or value. As a strategic tool, and often following a marital conflict, post-marital agreements may also function as a way to clean up financial questions, which allows the couple to re-focus energies on resolving other, non-financial issues.
Determining the Validity of Post-Marital Agreements
The court will examine the contract and consider questions such as the following:
- Before the marriage, was there a full disclosure of each party?s assets?
- Was the postnup agreement balanced and fair, where each contribution to the marriage has been considered?
- Was there any coercion or undue influence during the process of drafting the postnuptial agreement?
Prenup vs. Postnup: The Difference Between Prenuptial & Postnuptial Agreements
There isn?t must difference between the terms that can be included in a prenuptial or postnuptial agreement, but the court will scrutinize a postnuptial agreement under a much higher standard than a prenuptial one. Thus, it is critical for those seeking a postnuptial agreement to work with a qualified attorney with ample experience in marital contracts and their enforcement in nearby courts.
Our California-based firm would be happy to help you determine whether you should draft a postnuptial agreement. We represent clients in Southern California courts throughout California County.
For more information about our post-marital agreement services, contact us.