Many people are familiar with how a prenuptial agreement works. It is a legal document that is signed by two individuals who will eventually get married. The idea is to protect assets that each individual owns in case of a future divorce. A postnuptial agreement is similar, but it is signed during the marriage.
Some married couples have decided to turn to a family law attorney in Hattiesburg, MS, in order to get help drawing up a postnuptial agreement. The reason why some have decided to do this is because they want to reset their finances. It could be that one of the partners is not the best with money and the couple wants to establish a new money routine. The goal is to protect finances acquired during the marriage. It can also be beneficial if one of the partners will eventually receive a large inheritance.
Postnuptial agreements have been beneficial for couples who own a business together. It allows them to lay out a plan as to how ownership of the business will be divided if a separation or divorce occurs in the future. It allows the couple to discuss how debt has accumulated or how assets will be disposed of. When working with a family law attorney in Hattiesburg, MS, to draw up a postnuptial agreement, the couple can also decide how the business will eventually be passed on, perhaps to adult children.
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