When you and your spouse get married, you’ll begin a new chapter of your lives together. This can be a challenging legal process, as there are many financial and familial considerations you’ll need to make. Though bringing up the idea of a postnuptial agreement can be awkward, you and your spouse can reap the full benefits of this document. If you’re unfamiliar with this or why you should consider creating one, the following blog explores what you should know. Additionally, you’ll learn why you must connect with Los Angeles prenuptial agreement attorneys to help you create a document that accurately reflects your wishes.
What Is a Postnuptial Agreement?
Like a prenuptial agreement, a postnup allows you and your spouse to determine terms and conditions about how you will divide your marital assets in the event you divorce. The only difference is that a postnuptial agreement is created after a couple is legally married.
What Are the Benefits of Signing a Postnuptial Agreement?
There are many benefits to creating a postnuptial agreement, but these are most commonly created to grant peace of mind. While no one wants to imagine that they will divorce their spouse, it is a fact that nearly half of all marriages end in divorce. As such, taking additional steps to protect your finances if your marriage ends can help put your mind at ease.
Additionally, as many postnuptial agreements surround financial issues, this forces you and your spouse to be open and honest about your finances if you did not discuss that before getting married. For example, if you want a postnuptial agreement, you and your spouse must fully disclose all assets and debts to make the agreement legally valid. This can help ensure you are on the same page about your financial goals and status.
Finally, if you or your spouse own a business, a postnuptial agreement can benefit you. Not only will this keep your business separate, but it can also help ensure that any income you earn from the business remains yours instead of going to your spouse during a divorce.
How Can an Attorney Help Me?
If you and your spouse have discussed the benefits of creating a postnuptial agreement and are ready to begin the process, you should not do so before consulting an attorney. As this is a legally binding document, it’s in your best interest to allow an attorney to help you create the terms and conditions of the agreement to ensure it reflects your wishes, as you should not sign something this significant without the guidance of an attorney.
When you need assistance creating a postnuptial agreement to protect your assets, ensuring you connect with an experienced attorney is critical. At the Zitser Family Law Group, our team has experience handling cases involving high net worths and complex assets, so you can trust that your finances are in competent hands. Contact us today to learn how we can help you.