Beverly Hills Postnuptial Agreement Lawyers Ready to Help You in Your Next Chapter of Life
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.
Can a Lawyer Help?
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.