We have all heard of prenuptial agreements, where a couple can create a legal document prior to marriage which can dictate certain decisions the couples have made, most commonly involving a division of assets. However, many couples have decided that, even after they have married, they would like some form of legally binding document placed upon their marriage.
Postnuptial agreements can vary greatly and, in fact, can be used to settle any type of conflict by coming to a documented agreement through each other’s lawyers. These conflicts can range from simple day-to-day operations such as household chores, paying the bills or who gets to choose the vacation spot each year. For example, the agreement could state that the wife will be in charge of washing the dishes if the husband will be in charge of maintaining the pool. Or, perhaps the wife gets to select the vacation spot for every odd year and the husband gets to select it for every even year. The possibilities are endless and the agreement can serve as a helpful tool for couples that have a difficult time coming to a solution without the intervention and assurance that the lawyers and the document provide.
While many people jump to the conclusion that a prenuptial or postnuptial agreement mean a marriage is in jeopardy, such is most often not the case. In fact, such agreements can often strengthen a marriage and help avoid potential conflicts or difficulties. Lately, with the economic strain, many more couples have decided to use postnuptial agreements to restructure their financial responsibilities in the marriage. These agreements can cater to each person’s strengths, allowing each individual to give their best contribution to the relationship.
If you would like more information on prenuptial and postnuptial agreements, call MH at 888.222.1328 today to schedule a free consultation with one of our qualified attorneys.
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, power of attorneys, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
- What the Proposed Treasury Regulations Mean for Deductions Under Internal Revenue Code Section 2053 - September 16, 2022
- Does Your Estate Have Sufficient Liquidity? - September 14, 2022
- Understanding Asset Protection Trusts - September 12, 2022
Leave a Reply