Now that we are in the 21st century, nearly every married adult has heard of the pre-nuptial agreement. Spouses are also entitled to post-nuptial agreements - contracts made after the marriage to clarify what belongs to whom.
A post-nuptial agreement is especially useful when businesses or properties are acquired after the wedding vows have been exchanged. A couple may decide, for any number of good reasons, that they do not want to share these assets, or that they do not want to share the property that would normally be one spouse's separate property.
At the risk of over-using this analogy, because it is constantly being made, a legal marriage is much like a business. When John Smith and Mary Jones become married, from then on the share everything as if they were dual-presidents of Smith Incorporated. Investments, properties, and other assets can sometimes come with financial and legal risks attached; it may benefit your spouse to alleviate him or her of these risks.
If you are considering a post-nuptial agreement, you have likely considered your finances carefully. Likewise, post-nuptial agreements should be completed with the utmost care, with a knowledgeable family law attorney, to avoid any complications.
Without a binding legal agreement to the contrary, assets that are accumulated during a marriage are considered shared and generally would be split evenly in the event of divorce. One of the benefits of a legal marriage, according to California Family Law Code §1500, is that we have the right to make these determinations ourselves.
Since post-nuptial agreements serve to clear up future court mishaps and misunderstandings regarding money and assets, they are not unlike wills and trusts in this regard.
Most married couples would do anything to protect one another from harm. Post-nuptial agreements can help you do just that.
Sincerely,
Evan Sussman
Certified Family Law Specialist
Sussman & Associates
www.sussmanlawfirm.com
[Note from HandelontheLaw.com: This article is to be used as an educational guide only and should not be interpreted as a legal consultation. Readers of this article are advised to seek an attorney if a legal consultation is needed. Laws may vary by state and are subject to change, thus the accuracy of this information can not be guaranteed. Readers act on this information solely at their own risk. Neither HandelontheLaw.com, or any of its affiliates, shall have any liability stemming from this article.]
