A postnuptial agreement is very similar to a prenuptial agreement, which outlines how marital assets will be divided after a divorce or death, as well as a couple’s marital responsibilities. Unlike a prenup, a postnuptial agreement is signed after your marriage.
5 Benefits of Drafting a Postnuptial Agreement
A postnuptial agreement can be very beneficial for your marriage. These agreements are especially advantageous for couples with children from previous marriages and/or business owners. That being said, postnuptial agreements are helpful for all couples, as a well-drafted postnuptial agreement can help a couple:
- Communicate more and/or better. In creating a postnuptial agreement, you and your spouse will have some tough but necessary conversations. Having difficult conversations (about finances and the future) may foster deeper and better conversations, and you may even learn more about how you best communicate as a couple.
- Set clear expectations. As you discuss the terms of your agreement, you can learn more about each other’s spending habits, future financial plans, debts, and possible inheritance.
- Protect your (as well as your children’s) financial stability. A postnuptial agreement can help protect the individual interests of each spouse as they outline how newly acquired property will be divided, who will be responsible for debts and loans, who gets the family pet(s), and other important considerations. A postnuptial agreement can ensure money intended for your children is protected as well.
- Have peace of mind. Postnuptial agreements can alleviate some of the uncertainty of the future. Marriages end—in divorce or “until death you do part.” In either case, you are both prepared and protected.
- Streamline the divorce process. If a couple with a postnuptial agreement does get divorced, their agreement helps to expedite the process and eliminate some of the messiness typically associated with divorces.
If you and your spouse want to create a postnuptial agreement, you should speak with an attorney. Postnuptial agreements are legally binding agreements; however, if they are not drafted correctly, California courts may not see them as valid.
Need help drafting a post-nuptial agreement? At The Neshanian Law Firm, Inc, our experienced legal team is devoted to walking our clients through every step of their family law matter. For personalized, attentive legal aid, contact our firm via phone (949) 577-7935 or our online form.