What You Need to Know About Postnuptial Agreements in California
For some married couples, a postnuptial agreement is necessary for sorting out complicated financial assets in the event of a separation. Here’s everything you need to know about postnuptial agreements in California.
A postnuptial agreement is a written agreement created and implemented during the marriage that details the division of a couple’s affairs and assets if the couple separates. In California, postnuptial agreements are generally recognized by the court if it is in writing and recognized by both spouses.
What Is a Postnuptial Agreement in California?
Created and implemented after a couple gets married, a postnup is a written agreement that details the division of a couple’s affairs and assets in the event of a couple’s separation. It can be useful for a number of reasons, including when a couple predicts an upcoming separation or divorce due to tension in the marriage.
Postnuptial agreements differ from prenuptial agreements, as they are created, implemented, and signed after a couple gets married, rather than before.
Related: Prenup vs Postnup in California: The Difference
A postnuptial agreement in California is no different from a postnuptial agreement in any other state. The agreement must meet certain requirements to be considered legal and recognized by the state.
Why Sign a Postnuptial Agreement?
A postnuptial agreement can be useful in the event of a couple’s separation, including but not limited to a divorce or the death of one of the spouses. However, postnuptial agreements can also be useful in ensuring the retention of a spouse’s individual assets. They can also assist in salvaging a marriage, as the agreement can serve as a legal document that puts actions into perspective while recognizing any legal consequences.
Related: How to Create a Postnuptial Agreement in California
Is a Postnuptial Agreement Legal in California?
While there is no explicit California state law governing postnuptial agreements, a postnuptial agreement must meet the following qualifications to be considered valid and enforceable by the court:
- The postnuptial agreement must be in writing
- Both spouses must voluntarily agree to the postnuptial agreement’s creation. The threatening or forcing of one spouse by the other to implement a postnup is not allowed
- The postnuptial agreement must be transparent, listing all of the finances and assets of both spouses
- The postnuptial agreement must not weigh in favor of one spouse over the other
A postnuptial agreement is legally binding as long as it meets the aforementioned qualifications. There is no explicit law in California governing postnuptial agreements, so reaching out to an experienced family lawyer will ensure that your agreement meets all of the necessary requirements.
How Much Does a Postnuptial Agreement Cost?
Postnuptial agreements can vary greatly in price depending on the attorneys handling the creation of the agreement. To avoid conflicts of interest, both spouses must find and utilize the services of separate attorneys.
However, the costs of the postnuptial agreement can be much less than the costs associated with an actual separation, and lessen the hassle in the event of a divorce or separation.
FAQs About Postnuptial Agreements in California
What’s the difference between a prenup and a postnuptial agreement?
A prenuptial agreement is created, signed, and implemented prior to a couple’s marriage. Contrarily, a postnuptial agreement is created, signed, and implemented after a couple has already been married.
What’s the point of a postnuptial agreement?
A postnuptial agreement can be useful for couples who may anticipate a separation or divorce, as it helps with sorting out finances, affairs, and assets in advance.
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If you or a loved one have any more questions about whether or not a postnuptial agreement is right for you, contact us. Get your free consultation with one of our experienced Property Division Attorneys today!