A post marital or postnuptial agreement is a legally-binding contract that a couple can enter into after marriage but before their divorce or separation. Much like pre-marital or prenuptial agreements that encompass the division of assets and liabilities after divorce, postnuptial agreements also outline the division of assets and liabilities along with addressing issues such as spousal support. The United States has the 6th highest divorce rate in the world, with nearly 50% of all marriages ending in a legal separation or divorce. In this regard, a postnuptial agreement helps in the equitable distribution of assets and finances, with both spouses’ mutual consent.
If you have witnessed a significant surge in your assets recently, such as through a promotion at work or through a business leap, you might want to consider a postnuptial agreement with your spouse to protect your finances, should a divorce occur. Our Orange County Postnuptial Agreement Lawyer is experienced and skilled at drafting and interpreting a postnuptial agreement at any stage of your married life. Simply give us a call or schedule a consultation to get started.
More than being a pessimistic instrument that signifies a lack of trust, a postnuptial agreement can help married couples prepare for the future and stay loyal to each other. Here’s how:
A postnuptial agreement is easier to bring up after marriage, when both spouses have gotten comfortable with each other. It is far more difficult to introduce before marriage, when both spouses rarely know each other and may be nervous to start a new life. Besides, couples who are married young may not be adequately prepared to have the kind of financial discussions necessary to prepare for a prenuptial agreement. As they age together, they may feel more confident about discussing money.
A postnuptial agreement can serve as a protection against unfaithfulness by outlining what would happen if one of the partners decides to indulge in cheating.
After two people are married, they can not only have more meaningful conversations about money, but also observe each other’s spending habits. That way, a postnuptial agreement can state the division of assets based on each other’s spending with mutual consent easily achieved.
Prenuptial agreements work by predicting the future. Postnuptial agreements focus on how the income and assets have grown throughout the marriage, including inheritances, starting or growing a business, and investments.
Individuals with children from previous marriages can protect their children’s interests in specific assets, such as family heirlooms, that have been bought or inherited throughout the marriage.
The establishment of a new business partnership may require a postnuptial agreement to ascertain that the business will not be split up or other claims will not be made on it post-divorce.
When drafting a postnuptial agreement, you might want to make sure that all the common elements are addressed beforehand to avoid disputes after the divorce. Here are some of the elements that should be included in your postnuptial agreement:
Should a divorce occur, this can be one of the most contentious issues because couples could own several assets together (deemed community property) versus what they owned individually before marriage (called separate property). Since California is a community property state, the default norm is that all marital property shall be divided 50/50 between both spouses unless a legally-recognized document states otherwise. That document is called a post-nuptial agreement, which should detail exactly how marital and individual assets should be divided between the spouses during a divorce proceeding. Such property can include real estate, savings accounts, financial investments, jointly-operated business, and vehicles.
Marriages include not just shared assets but also shared debts. In a postnuptial agreement, details need to be finalized about the debt owed to certain financial institutions and how they will be divided between both parties. Such debt can include mortgage debts, student loans, and credit card balances, among others. This will ensure that each party takes a fair allocation of the debt in the event of a divorce to protect both parties from unnecessary financial burdens.
After a divorce is finalized, spousal support can include payments made from one spouse to another to create a level-playing field for partners with unequal earning capacities. This support helps the lower-earning spouse transition into a life of their own from the financial support they receive. However, conversations on spousal support can be highly contentious as one spouse may feel that they are being financially taken advantage of while the other may feel that they are not being supported enough for all their needs. Postnuptial agreements can address spousal support in advance before a divorce, minimizing conflict if an actual divorce does take place.
This can be another contentious issue to discuss as often inheritance rights involve family heirlooms or assets that can be deeply personal to an individual. However, this is again where a postnuptial agreement can come to the rescue. Within the agreement, each spouse can have their inheritance rights clarified to ensure that the assets important to them and their respective family are protected in a divorce proceeding. This step can help protect family legacies while maintaining harmony among heirs.
Married couples often rely on their joint retirement accounts and pensions to ensure that they are financially supported in the later years of their lives. To protect their money that they intend to use post-retirement, couples can plan specific terms and conditions on how they intend to split their retirement funds
Although child support and custody cannot be decided pre-divorce through a postnuptial agreement, you and your spouse can still include certain provisions that will act as a framework in case you both decide to divorce. Although the Orange County judge will always decide in the favor of the “best interests of the child”, your postnuptial agreement’s details can still be taken into consideration, provided that they prove to align with the most advantageous arrangement for the child.
For your postnuptial agreement to be legally enforceable, you must include certain provisions.
First and foremost, you must ensure that your postnuptial agreement is in written form. California courts do not uphold verbal agreements, so it advised that you consult an experienced Orange County Postnuptial Agreement Lawyer from JOS Family Law to get your agreement in written form. Next, you must ensure that your postnuptial agreement contains:
Some of these provisions can be extremely complicated and overwhelming for both you and your spouse. Therefore, you should not hesitate to contact an Orange County Postnuptial Agreement Lawyer at JOS Family Law.
Before entering a postnuptial agreement in Orange County, there are a few important considerations you must keep in mind to avoid future disputes
Even if other states allow verbal agreements in certain situations, for your postnuptial agreement to be legally enforceable in California, you must submit it in writing for legal consideration.
Each spouse must be represented by their own lawyer to ensure that both sides are fairly and equally represented by legal professionals. This will increase the chances of the postnuptial agreement being legally enforceable in the future.
While you focus entirely on yourself in a prenuptial agreement, the focus shifts towards your spouse’s best interest in a postnuptial agreement. Therefore, the law would require you to disclose all your assets and debts, failing to do which, your postnuptial agreement can be invalidated later.
Although a prenuptial agreement requires a waiting period of 7 days within which the other spouse is supposed to review the provisions and then go ahead with their decision, a postnuptial agreement is not bound by any such mandate. However, it is wise to not rush into turning in such an important contract and provide a healthy waiting period to your spouse.
It is important that you build a strong postnuptial agreement that provides adequate protection for you in case you and your spouse decide to divorce
An Orange County Postnuptial Agreement Lawyer ensures that:
Gain the confidence of working with seasoned advocates who prioritize your unique needs while fostering a supportive environment for your marriage.
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The total cost for a postnuptial agreement in Orange County depends on how complicated your case is and what the total years of experience are of the attorney you plan to hire. The costs can significantly increase for the number of times you meet with your attorney after the initial consultation, the total number of revisions made, time spent to draft the agreement, and any negotiations required with your spouse and their attorney. At JOS Family Law, we have 55 years of experience drafting postnuptial agreements for couples throughout Orange County. Our pricing is fair and transparent, so you do not receive any shock from any hidden charges.
While it is possible to create your own postnuptial agreement, it is not legally recommended. Firstly, when drafting a postnup yourself, you may miss one or more legally enforceable components that make a postnuptial agreement highly effective during a divorce. Without consulting an experienced and knowledgeable attorney, such as one from JOS Family Law, you risk facing unnecessary disputes during a future divorce or losing assets and property that could have been otherwise protected.
Provisions that violate California’s state laws or public policies cannot be included in your postnuptial agreement in Orange County. One example of this is trying to waive child support obligations before expecting a divorce. Family dynamics may change completely by the time you divorce, and the court will always decide in the best interests of the child. Therefore, the court does not allow decisions to be made months or years in advance of a potential divorce.
A postnuptial agreement can be voided on several grounds, especially if several details are found to be unenforceable. For example, if it is discovered that one of the spouses was coerced or forced into signing the agreement, or if certain financial information was concealed from them, then the illegality of the situation will void everything that was outlined in the agreement.
Absolutely! If you and your spouse are considering a postnuptial agreement, now is the time to connect with our highly skilled and experienced Orange County postnuptial agreement lawyer. Our experience in helping married clients across Orange County get a legally astute postnuptial agreement spans decades, and we would be honored to serve you and your spouse in drafting the same. Contact us today or schedule a consultation to get started.
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