Articles Posted in Postnuptial Agreement

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San Jose Family Attorney Discusses Post-Nuptial and Pre-Marital Agreements:

A Post-Nuptial Agreement, sometimes referred to as an After Marriage Agreement, is a written document signed by parties to a marriage that sets out how they agree to have property divided, spousal support determined and attorneys fees paid in the future if the marriage ends in divorce. These agreements are usually entered into by parties not already in the divorce process, while a Marital Settlement Agreement is usually entered into by parties going through a divorce.

A Pre-Marital Agreement is entered into before marriage. Before marriage, the parties are entering into an agreement much like two business persons entering into a contract. In a Pre-Marital Agreement, both parties do not necessarily need to have an attorney. However, if both parties have an attorney, it makes it much more difficult for either party to later seek to challenge the agreement based upon a claim that they did not understand the document, or that they were forced into signing the agreement.

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They say that money cannot buy happiness. Yet, to those who desire luxurious material goods, the pricey homes, manicured lawns, and luxury automobiles nestled among the rolling hills of Palo Alto and the tree-lined streets of San Jose’s Rose Garden District symbolize a level of comfort highly coveted by the average American. Nevertheless, while a life steeped in wealth may seem intriguing and desirable to many, a new report published by Forbes Magazine today indicates that spending power does not equal staying power when it comes to moneyed marriages. According to the study, conducted by Connecticut firm Prince and Associates, nearly 50% of America’s wealthiest citizens indicate that they are stuck in unhappy marriages, and over 50% of those surveyed report that they have been or are currently involved in an extramarital affair. It comes as no surprise to our family law attorneys in Santa Clara County that one third of the individuals surveyed for the study were examining divorce as an option.
In the experience of family attorneys in Monterey County or Santa Clara County, where there are many wealthy residents, divorce is a financially intimidating prospect, but not an impossibility. If a person is in an irretrievably broken marriage, it is better to research divorce as a solution than to give up and exist in a miserable or unfaithful relationship.
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A recent survey by the American Academy of Matrimonial Lawyers found that nearly half of its members have seen an increase in postnuptial agreements. A postnuptial agreement is agreed to after the marriage and delineates how assets will be divided in the event of divorce. A couple that agrees to a postnuptial agreement generally has the desire to stay married. Child custody, spousal support, and child support are some of the issues that can be covered in a postnuptial agreement.

Unlike prenuptial agreements, there is no Act that exists which applies to postnuptial agreements. This means that a postnuptial agreement may be held to a higher standard of scrutiny by the courts.

Writing A Postnuptial Agreement

When writing a postnuptial agreement, it is important to make sure that you and your spouse discuss a number of matters, including the following:

· Any joint assets and debts · Future income
· Current existing concerns about your financial lifestyle Continue reading