You probably already know what a prenuptial agreement is, but did you know that you can create a similar document after you have already tied the knot? A postnuptial agreement addresses many of the same topics as a prenuptial agreement and can provide similar protections during divorce. Like its premarital counterpart, a postnup is not necessarily an indicator of an inevitable divorce or separation.
So why decide to create a postnuptial agreement if divorce is not on the horizon? This can be a complicated and deeply personal question for you to answer. However, here are some of the common reasons that other California couples cite when making their own postnups:
- To designate certain assets for a child from a prior relationship
- To outline reduced work hours in order to care for a child or relative
- To differentiate separate property from marital property
- To officially support a financial arrangement or marital obligation
Still not sure if a postnuptial agreement can benefit you and your marriage? Consider that the American Psychological Association reported that 75 percent of people in America suffer from financial stress. Money is also one of the biggest stressors in a marriage. If you are worried about saving money while your spouse is more inclined to spend, you can use a postnup to thoroughly outline how you will handle these issues, ensuring that you both know what is expected of your financial contributions.
A postnuptial agreement can also play an important role during divorce. For instance, property division may be less complicated if you have already established which property is marital and which is separate.
Since these are legal documents and California family law can be notoriously complicated, most couples choose to consult with an experienced attorney before signing anything.