Weddings are typically joyous occasions where two individuals unite in love, vowing to spend their lives together. In all the wedding bliss, some couples in California may never consider what would happen to their personal assets and finances in the event of a divorce. Most people are familiar with prenuptial agreements, which are signed before marriage. However, postnuptial agreements can provide all the benefits of a prenup and can be signed after marriage.
What is a postnuptial agreement?
A postnuptial agreement is basically the same as a prenuptial agreement. The main difference between them is that a postnup is signed after the marriage takes place. In its most basic form, a postnup is a legal contract signed by spouses that dictates how assets and debts will be divided should the marriage end. But why would spouses sign a postnup instead of a prenup?
Reasons to get a postnup
Many couples never consider the end of their marriage before it even begins. However, after they are married, spouses may have more insight into the dynamics of their lives and want to protect themselves in the event they ultimately go their separate ways. One situation in which a couple may choose to get a postnup is when one party opens a business. A postnuptial agreement can protect the business as well as the business partners. Also, if one spouse has children from a previous marriage, a postnuptial agreement can also be used to pass assets down to their kids.
Help with a postnuptial agreement
If a marriage ends, a postnuptial agreement can prove invaluable and eliminate potential litigation and expensive court battles. Those in California who have questions or want to learn more about postnuptial agreements may want to consider contacting a legal professional. An experienced family law attorney can answer questions and help draft an agreement that fits the client’s needs.