postnuptial agreement

postnuptial agreements

Serving Akron, Canton, Summit County, Portage and Medina, Ohio.

Effective January 1, 2023, Ohio law has drastically changed to allow for postnuptial agreements between spouses. This means that now, after parties are married, they are able to enter into a contract with one another that changes some of their legal rights and responsibilities, similar to what a prenuptial agreement can do before parties are married. This means that after parties are married to one another they can modify the terms of a prenuptial agreement entered into before the marriage, terminate a prenuptial agreement after the marriage begins, or make a brand new agreement completely after the marriage that provides for how their property or finances should be handled or how to parent their children. This also means that couples who may be undergoing hopefully temporary struggles can sign a contract between them that divides financial responsibilities or children responsibilities without having to file a public separation document in court, which can help to ensure private situations are kept private. 

The reasons clients may wish to enter into a postnuptial agreement, include: 

• Estate planning needs where a client may wish to alter what their spouse will otherwise inherit from them
• Blended family issues related to inheritance
• Asset protection 
• Elder clients concerned about medicaid planning or asset protection in the event one spouse has long term care needs
• Other estate planning needs
• Clients who are unsure about the future of their marital relationship but want to protect themselves financially in the event of death of one spouse
• Clients who are undergoing temporary marital woes and want to protect and who do not want their private business in the public eye. This may be particularly beneficial for high profile clients such as professional athletes, celebrities and politicians.

In addition to the above, oftentimes issues relative to postnuptial agreements are important for probate law and estate planning considerations as well as family law issues, so it is important to select a law firm that is well versed in both areas when exploring or executing a postnuptial agreement. No matter what your concern, the attorneys at Hoover Kacyon, LLC are here to assist you and to recommend to you the best ways to utilize these newly recognized postnuptial agreements to your benefit. With seasoned and well credentialed and award winning attorneys in both family law and probate law/estate planning practice groups, the attorneys of Hoover Kacyon, LLC set themselves apart by remaining on the cutting edge of legal developments, such as postnuptial agreements, for the benefit of our clients. Contact us at (330) 922-4491 to schedule an initial consultation on your postnuptial agreement issue.