Peoria Postnuptial Agreements

For those who marry young, something like a prenuptial agreement might not make sense. No one has any real assets yet, and you’re both young and in love and ready to take the world by storm. However, as time goes on, you’ll develop a more practical mindset and start paying attention to the details. If you are ahead of the game, you’ll consider them now so that you know what to expect.

Most people assume that if they didn’t sign a prenup, they’re out of luck. However, the exact opposite is true in Arizona. Postnuptial agreements are an option for those who want to protect their assets, set certain terms for their marriage, and protect themselves in case of potential divorce or separation. Much like a prenup, these agreements can contain all kinds of guidelines for assets, debts, and other factors of the relationship, as well as the terms for what happens with them in the event of divorce.

What’s the Difference Between a Prenuptial Agreement and a Postnuptial Agreement?

The only significant difference between a prenuptial agreement and a postnup is that the former is signed prior to the wedding. On the wedding day, once the ceremony has ended, the prenup goes into effect and becomes enforceable.

Some people get lost in the idea of the romance of the wedding and assume that they don’t need a prenup. Or, they may not think there are assets or other items worth protecting. When that changes after the marriage, people aren’t just left hanging. They have the choice to create a postnuptial agreement to protect their assets and ensure fair division of them in the event of a divorce.

A prenup is signed before the wedding is legalized. A postnup is created and signed during the marriage. In either case, they afford protection for people who have a lot of assets and those who are significantly unbalanced in terms of assets, age, or other factors.

A Peoria postnuptial agreement lawyer can assist you with creating the document that you need to give you peace of mind in your marriage.

Who Needs a Postnup?

There is no hard-and-fast list of who does or doesn’t need a postnuptial agreement. However, there are some things that can be factored into the equation to help you determine the best course of action. Some common signs that a postnup could be a good idea include:

• When one spouse is significantly wealthier than the other
• When one spouse is significantly older than the other
• If you both have wealth
• If there are children from a previous marriage
• When you own a business (separately or together)
• When there are questions about inheritances to come

Essentially, if you find yourself in a place where you want to protect your assets in the event of divorce, a postnuptial agreement could be the perfect solution.

Business assets and inheritances, especially, are an important discussion among married couples. It’s not that you don’t want to share your life or the things that you’ve collected along the way. It’s just that these are major financial issues and it makes sense to protect both parties and have a clear guideline in place.

How to Create a Postnuptial Agreement

The first step in the successful creation of a postnup is for both parties to agree that a document needs to be created. If one person isn’t sure, the other will need to explain their reasoning and help them get on board. The agreement will need to be put into writing. Include anything that you want, as long as it’s within the law.

Exclusions from prenups and postnups include things like:

• Child support and custody matters
• Financial support for spouses (alimony/spousal support)
• Anything unconscionable or illegal

Once you have the terms of your postnup agreed upon, you can both sign the document. A postnup goes into effect immediately since you are already married.

Although it might sound “simple” at first, there’s nothing really simple about creating these documents. Therefore, one of the best ways to ensure that you get the outcome that you want is to work with a Peoria postnuptial agreement lawyer.

The Modern Law team has dedicated attorneys that know all about family law and marital law cases throughout Arizona, including in Peoria. If you need help with a postnuptial agreement, contact our lawyers today.

The Benefits

Of course, we can’t talk about postnuptial agreements without discussing the many benefits. For starters, it ensures that wealth and assets are protected in the event of divorce. Say one spouse has a business that has a value of $1.5 million. They can include in the prenup that those business assets remain theirs in the event of a divorce so that the other spouse doesn’t clean them out and take the business.

Postnups and other marital agreements are pragmatic. They offer peace of mind and ensure that couples are on the same page. And, when you work with a lawyer, they can be as specific or as simple as you’d like. You will be able to protect your children from previous relationships and their assets or potential assets, as well.

Arizona doesn’t have a lot of hard-and-fast rules about these agreements, so long as they’re not signed under duress and don’t include the things listed above, they’re generally considered enforceable once they are signed.

Contact Modern Law to Discuss Your Postnuptial Agreement

If you’re ready to sit down and discuss what a postnup entails and draft yours, you should reach out to a Peoria postnuptial agreement lawyer as soon as possible. At Modern Law, our team has experience with all types of agreements and legal documents related to marriage and divorce. We can help you ensure that everyone has peace of mind and that things are spelled out in a way that works for everyone.

Call Modern Law now to schedule a consultation and discuss your postnuptial agreement needs. No matter how simple or complex, we’ll help you create a document that gives everyone a fair outcome.