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Divorce, lifestyle changes and the postnuptial agreement

Over the course of a marriage, things can change. At the beginning, the happy California couple knew just what they wanted out of life. However, as time goes by and the family dynamics change, divorce may become an option. With this being a possibility, it may be in the couple's best interest to develop a postnuptial agreement prior to making significant lifestyle changes.

In the beginning, the couple may have had a prenuptial agreement. This agreement took into consideration the couple's current financial status as well as anticipated changes. However, not all changes can be anticipated and planned for. For this reason, it may be necessary for the couple to re-address their status years after the wedding has taken place.

The postnuptial agreement can be especially important if the couple decides that one of the spouses will leave the work force for a period of time. This is usually done to take care of small children or aging parents. While it is often in the best interest of the family, leaving the workforce can have a detrimental effect on the individual's later earning potential. As such, the postnuptial agreement can address how assets will be divided and this time away from the workforce compensated for in case of divorce.

When everything is going well, the average California couple typically does not think about what will happen if they divorce. However, prior to making significant changes that can have lasting effects, it may be in each individual's best interest to discuss the situation and develop a postnuptial agreement. With the aid of experienced attorneys, this can be a fairly simple process that can bring peace of mind for the future.

Source: brides.com, "The Prenuptial Agreement, Post-nuptial Agreement, and Everything In-Between", Jaimie Mackey, May 24, 2017

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