It is a common misconception that prenuptial agreements are reserved only for the rich and famous. A prenuptial agreement, or prenup, is a wise legal choice for many couples in California. It can help you protect your assets and plan for any potential outcome of your relationship – providing greater peace of mind as you enter this exciting new phase of your life. Find out if a prenup is right for you during a free consultation with an attorney at Boyd Law.
Planning for the Unexpected
Prenuptial agreements have much more to do with future financial security than matters of the heart. Contrary to popular belief, a prenup does not mean you are expecting your marriage to fail. It is a way for an individual to safeguard his or her future prior to getting married and commingling assets.
Prenuptial agreements can be especially important in California due to the state’s community property law, which divides most marital property down the middle in a divorce case, whether or not this is fair or equitable. No one can predict the future; a prenup can protect you against any eventuality of marriage.
Protecting Premarital Assets
California’s community property law does not apply to separate property. This encompasses property and assets owned by an individual prior to the marriage. However, many couples do not realize that they commingle their assets and turn separate property into community property, such as using a joint bank account. A prenuptial agreement can protect your premarital assets, including family heirlooms and your inheritance.
Avoiding Debt Allocation
If your fiancé or fiancée is carrying significant debt, signing a prenuptial agreement can protect you from being allocated a portion of this debt should your marriage end in divorce. A prenup is a smart financial decision if your spouse has student loan debt, credit card debt, IRS tax debt or other financial debt. A prenup can help you control your future financial situation when marrying someone with debt.
Looking Out for Children From Another Marriage
Prenups are a smart legal decision for couples where one or both spouses have children from prior relationships. The outcome of a divorce case without a prenup could overlook children from other relationships, as the focus will be on dividing assets between the divorcing couple. If you wish to protect your child’s inheritance rights, determine how assets will be distributed to a child from a previous relationship, and ensure that he or she is provided for in the future, consider a prenup.
Simplifying a Divorce or Legal Separation in the Future
A prenuptial agreement can lay out clear terms for a divorce ahead of time. You and your spouse will have the opportunity to make important decisions regarding property division and issues such as spousal support while you still get along and can communicate and compromise with one another. Without a prenup, on the other hand, you may end up with a contested divorce that requires a lengthy and expensive legal battle.
Customizing a Plan for Your Unique Needs and Concerns
If you and your spouse are considering a prenup prior to your marriage in California, contact a San Diego prenuptial and postnuptial agreement attorney at Boyd Law for a free case consultation. We can walk you through each step of drafting, finalizing and legalizing a prenup that is ideally suited for your unique needs. We will make sure that your prenuptial agreement is legally sound and will hold up in court should your marriage ever come to divorce. Learn more about the potential benefits of a prenup when you contact us.