Consider a postmarital agreement
The infatuation and passion you feel during your engagement in San Francisco may make considering the possibility of divorce the last thing you want to think about. For this reason, you (like many others) likely give little thought to entering into a premarital agreement with your spouse. Yet many will often come to us here at the [nap_names id=”FIRM-NAME-1″] regretting this decision. If you also come to share the same regret, you will be happy to know that you may still have the chance to enter into a similar agreement with your spouse.
Section 1500 of the California Family Code states that premarital agreements (or any form of marital agreement) can override the property rights of spouses prescribed by the state’s statutes. The inclusion of “other marital property agreement” in the language of this statute opens the door to the possibility of a postmarital agreement. Like a premarital agreement, one created after you are married can redefine what constitutes marital property and income, thus protect any assets you may own (or acquire during your marriage) from becoming subject to property division should you choose to divorce.
Keep in mind, however, that just because the law allows you this leeway in protecting your assets does not mean that the process of creating a postmarital agreement is informal. Indeed, it must be recorded, signed by both you and your spouse, and notarized. Your agreement also cannot be unconscionable or so one-sided as to put either you or your spouse in a financially disadvantageous position. You must also be completely forthcoming about all of your assets and properties in order for your postmarital agreement to be valid.
You can learn more about the benefits of a marital agreement by continuing to explore our site.