You may have heard of a prenuptial agreement, but you might be surprised to learn that there’s a similar document that you can sign after you’ve gotten married. More and more couples in California are filing postnuptial agreements to protect their assets if they get divorced.
So what, exactly, is a postnuptial agreement, and do you need one? Read on to learn more about these agreements and what they protect.
What are the advantages of a postnuptial agreement?
The idea of filing a postnuptial agreement may seem difficult, especially if you’re happily married. However, signing a postnuptial doesn’t necessarily mean that you feel like your marriage won’t work out. A postnuptial agreement could encourage honest communication between you and your spouse so that you both understand each other’s expectations. This type of contract can spell out things that may happen if you divorce, such as how you’ll sort out financial matters and who will be responsible for taking care of your kids.
What does a postnuptial contract protect?
Postnuptial contracts are very similar to prenuptial contracts. The main difference is that couples sign postnuptial agreements after they’re already legally married while couples sign prenuptials before getting married. Postnuptial agreements can help protect a wide range of matters pertaining to the marriage, such as:
- How the couple will divide their property if they divorce
- Which parent will pay child support payments and for how long
- How the couple will divide financial debts, like mortgages, credit cards and loans
- How the couple will divide assets if one partner passes away during the marriage
- Who will gain custody of minor children if the marriage ends
Get more information about postnuptial agreements
Laws about postnuptial agreements vary from state to state. If you’re ready to learn more about this type of contract, consider speaking to a lawyer.