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Why some couples sign postnuptial agreements

Couples in California may be interested in learning about postnuptial agreements. These legal documents are similar to prenuptial agreements, but they are signed after a couple is already married. The goal is to protect any assets that are acquired during the marriage in case a future divorce occurs.

This document is sometimes signed when a couple wants to add some clarity to their finances. It could be that one partner is good at saving and investing and the other is not good at handling money. In addition to helping a couple establish new financial routines while married, it could protect the partner who has saved and invested money in case of divorce.

A postnuptial agreement may be beneficial for a couple who owns a business that has grown to a substantial size. The document could lay out how the business will be divided, how debts with the business will be handled and who the business may eventually be passed on to, like children, if the couple divorces.

Working with financial planners and accountants can be helpful when drawing up a postnuptial agreement. Many details are typically involved, including looking at retirement savings, providing for minor children and planning future expenses that need to be addressed if the couple divided households. In some cases, trusts may need to be set up in order to handle certain situations.

When drawing up a postnuptial agreement, each partner in the marriage should have their own attorney. The attorney may be able to answer questions about how a future separation or divorce could impact a person's finances or their ownership of a business. Additionally, the attorney may provide information about how a divorce would affect a person in other areas of their life, like when it comes to getting custody of their children. If necessary, an attorney might represent a client in court.

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Law Offices of Catherine A. Schwartz
6877 Magnolia Avenue
Riverside, CA 92506

Phone: 951-335-0510
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