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Postnuptial agreements for financial planning

On Behalf of | Jan 13, 2020 | Divorce

In the past, people in Arizona often thought of prenuptial agreements as either a type of bad luck or a concern only of celebrities or the ultra-rich. When people married at a younger age, they often brought fewer assets and a brand-new career to the relationship. However, a growing number of people are marrying and remarrying at an older age, meaning many of them already own homes or businesses or have children of their own. As a result, prenups have become very useful for a growing number of couples. They do not see these agreements as a negative sign of a pre-planned divorce but as smart thinking about their financial future.

For people who are already married, they may have some of the same concerns that motivate people to sign a prenup, including family inheritance, a privately owned business or complex situations involving their children from past relationships. Postnups may seem even more like an advance plan for a divorce, but some couples may find them to be an important part of their financial plan. There are some circumstances in which they may even be a necessity. For example, small, privately held startups and other businesses can be torn apart in case of a divorce and the resulting property division.

Many investors will decline to put their money into a promising startup that is not protected from divorce by either prenuptial or postnuptial agreements. Companies that want to grow may need their founders to execute a postnup. Families considering estate and inheritance plans may also want to ensure that heirlooms and assets are protected from any potential asset division in the future.

Postnuptial agreements may help some couples to achieve their financial goals with a clear plan for the future. A family law attorney may be able to help a spouse negotiate a fair postnup.