A postnuptial agreement is a contract outlining how a couple's property must be divided in the event that the marriage ends, either through legal separation, divorce, or death. Providing the same benefits as a prenuptial agreement, it is becoming increasingly common for married couples to create these agreements to set clear expectations and eliminate any misunderstandings.
One of the most common reasons for creating a postnuptial agreement is a shift in finances. Often, this is the case when there is a change in the extended family, a change in the participation in or value of a family business, of when one spouse is completing a valuable degree. A postnuptial agreement may also function as an important tool to clear up financial questions after a period of marital conflict, allowing the couple to focus on resolving other issues.
The court will examine the contract and consider questions such as the following:
- Was there a full disclosure of assets?
- Was the agreement fair, where each contribution to the marriage has been considered?
- Was there any coercion during the process of drafting the postnuptial agreement?
- The Difference Between Prenuptial & Postnuptial Agreements
There isn't must difference between the terms that can be included in a prenuptial or postnuptial agreement, but the court will scrutinize a postnuptial agreement under a much higher standard than a prenuptial one. Thus, it is critical for those seeking a postnuptial agreement to work with a qualified attorney with ample experience in marital contracts and their enforcement in Arizona courts.
McKay Law would like to help you determine whether you should draft a postnuptial agreement. For more information about our postnuptial agreement services, contact us for a free initial consultation.