Many couples contemplate a Post Nuptial Agreement when they have accumulated a significant amount of property or money during the marriage, or to solidify the characterization of separate property or separate property income. This type of Agreement enables an already married couple to protect assets in case of divorce or death. Note that this is an “agreement” and both parties must agree to the terms. Before drafting, the couple should have an idea of what terms will be addressed, such as real property and retirement benefits. The couple should have an open and honest discussion about the family’s finances and their expectations for the future. Finally, the couple should each seek out their own attorney. It is important that each party to this agreement receive independent legal advice and counsel.
For more information on Post Nuptial Agreements call Payne Law Group for a free consultation at (323) 834-2889.