Summer weddings are upon us! Saying “I do!” is rather exciting, but all the planning leading up to it can be stressful. Before walking down the aisle, most couples choose some form of marriage preparation. Many times that involves the drafting of a prenuptial agreement, also known as a “prenup.” A San Diego prenup can be an excellent way to get a financial snapshot of your lives before marriage, as well as talking through some fundamental aspects of your expectations of each other. A prenup may involve a bit of research and discussion, so it is essential that you give yourself enough time to get it all completed. But how much time do you need?
Preparation Is Everything
When you determine that you would like to sit down with your soon-to-be-spouse and sketch out a prenup, you will need some information. There is some very particular information you will need to have on-hand. While this may vary from client-to-client, here is a list to get you started:
- Last two years of tax returns
- Last three months of paycheck stubs
- Bank statements
- Credit card statements
- Loan statements
- Retirement or investment account statements
- List of valuable assets
If you have all of these statements ready to go, your mediation session will be much more productive.
Schedule a Mediation Session
At San Diego Family Mediation Center, we walk couples through the prenup process from start to finish. We will talk about significant financial, emotional, and practical aspects of marriage. We take a look at the financial situations of both parties involved, guide the discussion, and record your agreements. You likely will take home a packet to fill out that will ask you specific questions about your financial situation. Fill out the packet, attach your statements, and provide it to your mediator.
Signing the Prenuptial Agreement
Depending on how fast you compile the financial documents will dictate how fast your mediator can put everything together for you. Typically, after we have all the information, an agreement takes two weeks to draft. After you have the draft of the San Diego prenup, you will want to take it to your attorney to have a look-through. Most attorneys will offer a flat-rate fee for prenup review. They will be able to tell you what is in your best interest, any potential downsides to terms in the agreement, and guide you on what to do next. Since your mediator is a neutral party who doesn’t represent either you or your partner, you need someone who can provide legal advice specific to you.
After you have made the suggested changes and tweaks to your prenup, you are all ready to come in and sign. Many couples choose a notary also to be present.
If you are prepared adequately, a San Diego prenup can take as little as a few weeks, or as long as a few months. Interested in premarital mediation? Contact the San Diego mediators at SDFMC! Call (858) 736-2411 today!