Today, more couples than ever are getting prenups before they tie the knot - and for good reason. A prenuptial agreement can help you lay the foundations for a healthy, equitable union where both parties feel valued and treated fairly. Understanding the benefits of getting a prenup can help you determine if it's the right move for you in your CA marriage.
To schedule a consultation with one of our experience prenup lawyers, contact us online or via phone at (415) 650-1112.
You Have Assets You Want to Protect
One of the most well-known protections prenuptial agreements offer is enabling parties to designate which assets are considered marital and separate.
California is a community property state, meaning that - in the event of a divorce - the parties split marital property equally. As a result, many individuals lose more assets - or take on more liabilities - than they initially expect during California divorces.
You can use your prenup to specify that certain assets which may normally be considered marital will instead be yours or your partner's separate property, preventing them from being distributed between the parties in the event of a divorce.
You Want to Determine How Finances Are Allocated During the Marriage
Prenups can also be used to designate how the parties will allocate finances during the marriage. This can help parties maintain a more equitable union, especially if one party is the primary breadwinner.
Additionally, both parties must disclose their finances to each other in the lead-up to signing a prenup. As a result, you can actually use a prenup to learn more about your partner's debts. It's a good way to get on the same page financially and ensure you and your spouse are aligned on how you'll spend and save money once you tie the knot.
What Can't I Put in a Prenup?
You cannot put any stipulations for child support or custody in your prenup. Courts determine matters of child support and custody when a custody or support case is initiated, and will make whatever decisions align with the child's best interests.
Additionally, it's important to note that prenups are not immune to change. A court can declare a prenup invalid if it is "unconscionable" to either party. As a result, parties who experience life-changing events while married, such as one party losing or gaining a substantial amount of money, should consider re-drafting or editing their marital agreement to reflect those changes.
A court can also declare a prenup invalid if it was drafted through coercion, fraud was committed by one party while drafting the prenup, or one party did not have the appropriate time or legal counsel to determine whether a prenup was in their best interests before signing it.
At Fenchel Family Law, we'll help you draft a prenup that serves your needs and interests. Contact us online or via phone at (415) 650-1112 to learn more.