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Postnuptial Agreement Attorney in Beverly Hills, CA
Beverly Hills Postnuptial Agreement Lawyers Ready to Help You in Your Next Chapter of Life
In Beverly Hills, an area popular for its lavish lifestyle and wealth, postnuptial agreements can be vital for couples who wish to protect their assets, establish clear boundaries, and set financial expectations within a marriage. At Benefield Faulk Law, we have been serving clients in and around the Beverly Hills area for over 15 years, and we can put that experience to use for you. A Beverly Hills postnuptial agreement lawyer from our firm can offer you guidance on forming and enforcing these agreements.
Money is one of the hardest things for most married couples to discuss openly. There is so much tension around money that even bringing up the idea of a legal contract surrounding it can feel crass. No matter how uncomfortable it may be, talking about money is something every couple should do in order to protect themselves in the event of a divorce. A postnuptial agreement will make things easier if the union happens to end in divorce someday. With the help of postnuptial agreements, this process can be smooth and easy while ensuring peace of mind for the future.
How is a Postnuptial Agreement Different from a Prenuptial Agreement?
The main difference between prenuptial and postnuptial agreements is when they are created. A prenuptial agreement is a legal document created by a couple prior to marrying. A postnuptial agreement is the same type of legal document but created once a couple is already legally married. Both prenuptial and postnuptial agreements outline the same basic information with the goal of making separation easier to manage should that day come.
If you are already married, postnuptial agreements are the best way to get the benefits of a prenuptial agreement to safeguard property, marital assets, and money. If you are not already married, prenuptial agreements are a better choice as opposed to simply waiting until after the wedding to get a postnuptial agreement. Having this conversation and going through the process prior to marriage will often help couples deal with money issues more openly throughout the marriage.
What is Covered in a Postnuptial Agreement?
A postnuptial agreement covers important information regarding separate property and community property, assets, child support, and alimony, and may even establish specific roles or responsibilities for each person within the marriage. Who gets the house if the marriage ends? What about other assets? What if one person came into the marriage with the house already under their ownership? Does one spouse make significantly more money than when the couple first wed? Will one party require alimony or child support in the event of a divorce? All of these questions and more will be easier to answer with a postnuptial agreement in place.
Do You Need a Postnuptial Agreement?
Many people assume that postnuptial agreements are only for the super-rich and elite. A postnuptial agreement is for any married couple of any financial standing. Whether you have a mansion or a small house, separate and community property is still one of the most crucial parts of negotiating a divorce. Unlike money in a joint savings account, the marital property can’t be divided equally outside of selling the property, and in some cases, one party may want to live there and retain the property.
There is also the matter of which person financially contributed more to the property: for example, if one person earned more and contributed more to the mortgage payments than the lower-earning spouse. There are many factors at play within the finances of a marriage, which is where postnuptial agreements may come in handy.
It may serve as a tool to keep the division of property and other assets fair for both parties. A postnuptial agreement is also a great idea if one person in the marriage has children from a previous marriage. This will help determine the roles and expectations of the stepparent.
A prenuptial agreement is a document created by a couple prior to marriage. If there are any financial dealbreakers, the couple can address them before the marriage even begins or opt not to wed at all. Once a couple is married, the money issue may fester and turn into one of the leading reasons for divorce. From there, a divorce can quickly turn bitter and ugly, with each person fighting for their fair share and then some. Happy couples never think they will someday despise their partner so much that they are fighting for every possible dollar out of the divorce.
Making a postnuptial agreement long before things get heated may just be the most thoughtful act of love between two people who genuinely care about one another. A postnuptial agreement lawyer will help ensure couples find the right language and terms for their individual situation while meeting all the legal requirements.
What Terms Cannot Be Included in a Beverly Hills Postnuptial Agreement?
With a median household income of $127,979 a year for those residing in Beverly Hills, a postnuptial agreement can be vital for protecting one’s assets and wealth. However, some terms, unlike with property division, cannot be included in a postnuptial agreement. These can include the following:
Child Custody
In a postnuptial agreement, you and your spouse cannot include any kind of terms that will determine how to handle child custody issues in a future divorce or separation. For example, you cannot include any terms stating that a child will live with one spouse over the other after a divorce.
In custody cases, the courts will preside over these matters. However, you will have the opportunity to submit a proposed parenting and time-sharing plan.
Amounts of Child Support or Alimony
In Beverly Hills, child support amounts are calculated using state guidelines, so they are not dependent on what is stated in a postnuptial agreement. If a postnuptial agreement outlines terms regarding alimony or child support amounts in the event of a divorce or separation, those terms are not enforceable.
How Can Benefield Faulk Law Help?
When you hire an attorney to assist you in the creation and legal establishment of a postnuptial agreement, they can include all the necessary terms to:
- Protect your wealth.
- Prevent the agreement from including any invalid or unenforceable provisions.
- Make sure all assets are identified as either separate or marital property.
FAQs
When Should I Consider Making a Postnuptial Agreement?
Several life situations or circumstances could warrant the need to establish a postnuptial agreement. These can include:
- Owning a business or having an interest in a business
- Owning a significant amount of assets and/or wealth
- Having children from a previous relationship or marriage
A skilled Beverly Hills postnuptial agreement lawyer knows how to protect your assets in all these situations.
Are There Any Grounds for Contesting a Postnuptial Agreement?
Several common grounds could be used to contest a postnuptial agreement. These can include:
- There is evidence of coercion.
- There is proof that the agreement was only signed under duress.
- The agreement is actually unconscionably unfair to one of the involved parties.
- There was a failure to disclose all assets at the time of the signing.
How Do I Make Sure a Postnuptial Agreement Is Valid?
To make sure a postnuptial agreement is valid in Beverly Hills, it must be:
- Written down, as oral agreements are unenforceable
- Executed correctly and signed by both parties before being notarized
- Fair and reasonable for both spouses
- Signed without any presence of coercion
Furthermore, both parties involved must have their own unbiased legal representation.
How Long Can It Take to Establish a Postnuptial Agreement?
How long it may take to legally establish a postnuptial agreement will depend on the specifics of each case. Also, these agreements can vary in complexity. How well you and your spouse can efficiently communicate to establish the agreement will also affect the overall timeframe. An attorney can give you an idea of how long your agreement may take after reviewing your case.
Speak to a Trusted Postnuptial Agreement Lawyer Today
Planning for a possible divorce someday isn’t callous – it is a smart move to protect you and your spouse from a drawn-out, bitter battle. Reach out to us at (310) 271-7675 today to get started on the right financial solution for your marriage and family.
