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Reasons why couples sign postnuptial agreements

Some San Jose couples wonder after tying the knot if they should have gone ahead and signed a prenuptial agreement. Couples might balk at signing a prenup because it implies that their marriage is not strong. However if for any reason a couple has a change of heart, know that it is not too late. While you cannot sign a prenup after you marry, you can sign a postnuptial agreement that will cover many issues that prenups generally handle.

According to Investopedia, there are a number of reasons why couples sign postnuptial agreements, but generally, couples do so because of a game-changing event that brings renewed attention to monetary or property matters. For instance, if a spouse receives a big inheritance, he or she may want to sign a postnup that details how that inheritance would be split in the event of a divorce. Without a postnup, California’s community property laws would dictate that the marital assets of the couple are to be split equally between the spouses.

ABC News explains that spouses in blended families have added reasons to sign postnups. Someone who marries for a second time could have children from the prior marriage. Additionally, the new wife or husband could also have children stemming from a previous union. These different combinations could call into question where your assets go. Without a postnup, your assets and property might not go directly to your biological children. They could be split among multiple parties. A postnup, however, can define who receives the assets.

Sometimes changing work arrangements can motivate couples to sign a postnup. A wife or husband may want to devote more time to care for children, perhaps due to special needs of the children or if both spouses are spending too much time away from their children. A spouse who leaves the workforce for a time can use a postnup to create financial security for him or herself. Some spouses may also have problems earning money and want to make sure that a split of assets in a divorce will not leave them destitute.