Prenups precede happy marriages
While prenuptial agreements (also known as premarital agreements or prenups) tend to have a negative connotation, they are a great way for you and your partner to discuss the important financial implications of getting married. Divorce can be financially and emotionally devastating, and a prenup can prevent a lot of turmoil if your marriage ends unexpectedly. Think of a prenup as a divorce insurance plan that you and your spouse put together ahead of time in the unfortunate case you end up needing it.
A prenuptial agreement allows you to choose allocation of assets
California is a community property state. This means that, unless you have a prenuptial agreement stating otherwise, anything that you and your spouse acquire during marriage will be split evenly upon divorce. This includes your house, car, salary, savings, retirement plans, and more, with a few exceptions such as inheritance or gifts. With a prenuptial agreement, you can modify the asset distribution however you and your spouse prefer. While divorce law takes a one-size-fits-all approach, a prenuptial agreement is your opportunity to customize the asset arrangements for your marriage.
Prenuptial agreements don’t invite disaster, they help prevent it
It’s a common concern that creating a prenup will make divorce more likely. Statistics show that this is definitely not the case. Just like preparing an estate plan will not cause you to die sooner, a prenup is merely an emergency plan that lays out what should happen if your marriage unexpectedly ends. Think of your prenup as “divorce insurance” without monthly premiums. In reality, you will likely discover that discussing finances, bills, marital expectations, and assets is invaluable in creating a solid foundation for your marriage.
We’re here to help draft your prenuptial agreement
You and your partner will need to meet with a legal professional to discuss the terms of your prenuptial agreement and have it drafted. Many couples prefer to meet with a mediator at this stage instead of an attorney, and that’s where we come in. We will make sure that both you and your partner are fully involved in the creation of the prenup, include all of the most important considerations, and completely understand the final terms. After we help you draft your prenup, each of you will consult with your own independent attorney to review the agreement (we can recommend attorneys to you as well). This helps ensure that both of you find the agreement terms to be fair and reasonable. Once you have approved of the final agreement, you will both sign it, and your prenup is complete.
By Amanda Singer Getting engaged and then married is usually one of the happiest times in a couple’s life. While it differs for everyone, you’re probably focusing on where you’ll get married, what you will wear, your flowers, and your … Read More