Getting married is always an exciting time, and also a romantic one. For this reason, many couples choose not to draft prenuptial agreements and take other precautions to help ensure their finances are protected, should the worst happen and they eventually get divorced. That said, one of the best ways to protect your finances from the pitfalls of a divorce is to draft a prenuptial agreement. Please continue reading and reach out to our knowledgeable Los Angeles prenuptial agreement attorneys to learn more about these agreements and how else you can protect your finances from a potential divorce. Here are some of the questions you may have:
How can a prenuptial agreement protect my finances from a divorce?
To start, once you and your spouse draft a prenuptial agreement, you can lay out exactly who is entitled to what types of property. For example, if you had “x” amount in your bank account prior to marriage, you can specify that you will keep this, should you get divorced. You can even specify certain accounts that are off-limits altogether in a divorce. Additionally, you and your spouse can outline other divorce terms, such as who will get certain real estate property, access to retirement accounts, and more. You can even outline a future alimony agreement. That said, you should understand that you cannot include everything in a prenuptial agreement, such as child custody or child support terms; these must be decided at the time of divorce.
What happens if I’m already married and never drafted an agreement?
If you are already married and have never drafted a prenuptial agreement, don’t fear, for you can still draft a postnuptial agreement. These agreements serve the same purpose as prenuptial agreements, only they are exclusively drafted after marriage. Understandably, drafting such an agreement may be a tough conversation to have once you’re already married, but it can potentially save you greatly in the long run.
Can a prenup protect my business from a divorce?
You can include your business in your prenuptial agreement and specify exactly who the business will go to in the event of a divorce. Additionally, if you co-own a business with your spouse, you can draft a shareholder agreement, which can detail each spouse’s interest in the business, should you ever get divorced.
If you have any other questions about how you can protect your finances from a divorce or you’d like to hire a seasoned prenuptial agreement lawyer, please don’t hesitate to speak with Zitser Family Law Group, APC today. We are here to help you in any way we can.