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Divorce: Why would people sign a postnuptial agreement?

Although more and more couples in California choose to sign prenuptial agreements, many others believe it is only necessary for high net worth couples. Some shy away from even discussing it because it might suggest they are planning for a divorce before they are even married. However, circumstances change, and many couples later reconsider the pros and cons of a marital contract and then sign a postnuptial agreement.

If one spouse has to become a stay-at-home parent, he or she might be at a disadvantage if the marriage should end. However, addressing this issue in a postnuptial agreement can bring peace of mind. Another consideration for a postnup may arise if there is a sudden wealth change for one spouse, such as an inheritance. The inheritance might be a family business that needs protection.

Business success may also spur the need for an agreement. In fact, sometimes, other business partners may require a signed marital contract to avoid losing a share of the business to an ex-spouse. Couples in second marriages might find that a postnuptial agreement is needed to deal with the various complications that might include children from previous marriages and other issues. These contracts are sometimes used to settle disagreements, such as laying down the rules for an adulterous spouse or using it as a measure to stop an addiction such as gambling.

Regardless of whether a postnuptial agreement is signed to ensure both parties are treated fairly in the event of a divorce or to make a potential divorce is less contentious, there are legal requirements for such an agreement to hold up in court. California spouses who are considering the pros and cons of such an agreement may have questions about the subject. Answers, advice and guidance are available from an experienced divorce attorney.

Source: investopedia.com, "Create A Pain-Free Postnuptial Agreement", Lisa Smith, Accessed on Nov. 29, 2017

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