Most couples do not get married expecting for it to end. However, statistics show that divorce is a reality many married couples face. For this reason, having some form of agreement in place as to what should happen in the event of a divorce can help the process. For couples who did not sign a prenuptial agreement before getting married, a postnuptial agreement may be beneficial.
Below are three key facts of a California postnuptial agreement:
- It Is Not a Prenuptial Agreement
The key thing you should understand if you are considering drafting a postnuptial agreement is that it is an entirely different document than a prenuptial agreement. Although both may include some of the same information and aid in dividing an estate upon divorce, a prenup and a postnuptial agreement are not synonymous – especially in the eyes of the court.
A prenup is signed and instated by two parties before the marriage, while a postnuptial agreement is between two current married spouses that must be first approved by the court. Postnuptials generally benefit married couples who enter the marriage with relatively small assets and accumulate property throughout the marriage.
- Proper Use of a Prenuptial Agreement
A postnuptial agreement allows spouses to agree on a variety of terms in their marriage. In particular, a postnuptial agreement is generally used to identify marital and separate property and divide important assets. However, every marriage is different and may include additional terms, such as specific marital expectations, as long as it is within the realms of California Family Code.
- Components of a Postnuptial Agreement
Just like any other contract, a postnuptial agreement must include a few required components in order for it to be enforceable. The agreement:
– Must be in writing
– Must be signed by both spouses
– Must be inclusive
– Must be fair to both spouses
Understanding these important key facts about a postnuptial agreement can help married couples in deciding whether it is right for them. It may also be beneficial for parties to discuss the idea with their significant other and an experienced Central Valley divorce attorney to ensure that it is the best option for their particular situation.
Call an Experienced Central Valley Family Law Attorney
If you are planning to devise or sign a postnuptial agreement, it is in your best interest to consult with an experienced family law attorney to help you learn your legal rights and options.
For more information or to schedule a complimentary consultation with Central Valley family law attorney Gurjit Srai, please call (209) 323-5558 or (559) 449-1447, or complete our online form.