What is a postnuptial agreement and when should it be used?

A postnuptial agreement is a legal contract that a married couple can enter into voluntarily. It is a way for a married couple to decide, with the help of a lawyer, how to manage property, assets and debts if they were to divorce. It can also change how assets are split by deciding who gets what. This can help avoid costly court disputes if there is a divorce in the future. In California, postnuptial agreements are legally recognized and enforced if they meet certain requirements. The agreement must be fair and equitable, signed voluntarily, and in writing. It must also be properly executed by both spouses and notarized by a third party. Postnuptial agreements should be used if a married couple wishes to secure their rights and assets, or if they wish to plan ahead in the event of a divorce. Trust issues or changes in lifestyle, such as a spouse deciding to change careers, can also be addressed in a postnuptial agreement. A postnuptial agreement should be used at any point in the marriage if either spouse feels that it is beneficial to their financial security.

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What is a postnuptial agreement and when should it be used?

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