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The benefits of prenuptial and postnuptial agreements

| Sep 24, 2018 | Property Division, Property Division |

Over time, people may have different feelings toward their partners. Therefore, Arizona residents who are planning on getting married may benefit from creating a prenuptial agreement. It will dictate what happens in the event that the marriage ends. One of the best reasons to have such an agreement is that it can be negotiated in a rational manner when both parties have a good relationship with each other.

Another good reason to have a prenuptial agreement is that it allows for greater communication about personal and household finances. As a general rule, a prenuptial agreement will have language related to how assets are divided or who gets spousal support. It is important to note that a prenuptial agreement cannot determine parental rights as the best interest of the child is always the top priority. If a couple never prepared a prenuptial agreement, a postnuptial agreement may be entered into after they have gotten married.

In many cases, the agreement comes about once a couple understands the issues that threaten the marriage. In some cases, the conversation leading to the agreement could result in saving or strengthening the marriage. If a divorce does occur, having a postnuptial agreement may allow for a divorce that is relatively free from stress and drama. Furthermore, it can help to protect the privacy of those involved.

In a divorce, property division may be an issue of contention. However, by coming a prenuptial or postnuptial agreement, there may be less confusion or drama surrounding how marital assets are split. This may be important for business owners or others who had separate property that grew in value during a marriage. An attorney may be able to help individuals going through a divorce regardless of whether or not a prenuptial or postnuptial agreement exists.