Postnuptial agreements are contracts that a married couple can enter that will detail how they want to divide their assets in the event that they end their marriage. These agreements are legal contracts that the court will uphold as long as they meet all of the state law requirements.
If you are interested in learning more regarding how these contracts can help you and your family, you should speak to a Prescott postnuptial agreements lawyer. An experienced family attorney could help you put together an agreement that saves your family time and resources while equitably ending your marriage.
Many people are more familiar with prenuptial agreements than with postnuptial agreements. Prenuptial agreements are similar, but the parties enter them prior to marriage. Sometimes individuals failed to take the time to create a prenuptial agreement and remedy the situation with a postnuptial agreement.
Other times, the situation in the marriage changes, and the parties realize they should enter an agreement. In the case of either of these contracts, speaking to a Prescott lawyer about postnuptial or prenuptial agreements could help the parties understand their rights and options.
Postnuptial agreements might sound like the spouses expect the marriage to end. However, this assumption is false. In many cases, a postnuptial agreement can help people save their marriage.
One of the most common reasons that couples divorce is that they cannot agree on money-related matters. The anxiety over a partner’s spending and earning habits can lead to conflict that threatens the marriage. Setting terms for debt and property division can relax people and allow them to avoid repeating the same arguments.
Postnuptial agreements can also lay to rest worries over what will happen to inheritances and other assets if the parties have children from an earlier relationship they wish to protect. If one party opens a business, the agreement can also protect the business interests and put partners at ease about the company’s future. Couples struggling with financial concerns in Prescott should consult with a postnuptial agreements attorney about how a contract can protect them and their family.
Postnuptial agreements must meet certain technical requirements before a court is willing to enforce the contract in the event of a divorce. First, the agreement must be fair and equitable. An agreement designed to serve just one of the parties’ interests will not meet this standard.
The parties must enter the agreement openly and without fraud, undue influence, or coercion. If one of the parties uses threats or otherwise attempts to force a party to sign the agreement, the terms will be invalid.
Finally, the individuals must be fully informed when they sign the contract. If one party fails to disclose their assets or debts, the other party will have the right to attack the viability of the agreement.
While a postnuptial agreement can be beneficial, it will not serve its intended purpose if the parties do not take the proper steps to enter a valid contract. It is a good idea to discuss postnuptial agreements with a Prescott lawyer.
Each family is different, and there are endless possible reasons that you may want to enter one of these agreements. If you and your spouse have questions, contact a Prescott postnuptial agreements lawyer. Our experienced attorneys could answer any questions you may have and help you decide if this is the right course of action for your family. Call now.
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