Prenuptial Agreements: Basic Security or Signing the Divorce Contract?
Encinitas, CA – Prenuptial agreements will always remain a tricky subject, as opinions across the state of California remain divided. Some people believe that signing a prenuptial agreement is the right thing to do, if nothing else than for mere security. Others think that signing a prenup serves as a predictor of divorce. While this is never an easy decision to make, it helps to know the facts about prenuptial agreements before you sign on the dotted line.
What are Prenuptial Agreements?
Put simply, prenuptial agreements contain the details for the division of finances once a couple decides to get a divorce. These documents generally include information on how marital debt is divided, who gets which properties, and how much money each party receives.
As an example, let’s say that one spouse owns the house the couple lives in during the marriage. The spouse owned the house before the marriage took place, and so would continue to own it solely upon divorce, provided the prenup was signed.
It’s also important to note that prenuptial agreements never include information about child custody, since that’s against the law. For that, you would need to consult a child support lawyer, for example.
Why is a Prenup Important?
If no prenuptial agreement is signed, any property owned by one or both partners could be divided equally in case of divorce. The amounts rewarded to each would depend on a number of factors, including the spouse’s income level, how much property was accumulated during the marriage, and others.
Is a Prenuptial Agreement a Good Idea?
When deciding whether a prenup is right for you, there a few factors to consider.
One is if both parties were married previously or had children before the marriage. A prenup may protect assets that are intended for the children upon notice of divorce. Other factors include if one spouse is wealthier than the other or if one has more debt prior to getting married. In the latter situation, a prenup can protect the other spouse from incurring that debt after divorce.
If there is a family business involved, a prenup can determine what happens to that business if the marriage where to be dissolved.
Although some argue that prenuptial agreements do nothing but predict the upcoming divorce, this couldn’t be farther from the truth. Many happily married couples have prenups. It all depends on what’s in the prenup, the reasons for signing, and whether both parties are in complete agreement.
What you should never do is attempt to draw up or sign a prenuptial agreement without the advice of an experienced California divorce attorney.
To get help with your prenuptial agreement, contact the dedicated family lawyers at Griffith, Young, and Lass, by emailing or calling 858-345-1720, now serving clients in Carlsbad, San Diego, Encinitas, and Vista.
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