After you and your partner agree to tie the knot, there are many considerations you’ll need to make before your big day. From choosing your venue to picking your honeymoon destination, wedding planning can be fun. However, there are a number of more serious financial considerations you’ll need to make, including whether or not a prenuptial agreement is a good decision for you. If you’re considering creating a pre-martial agreement with your partner, you’ll want to understand all facets of this document before sitting down to draft an agreement. Keep reading to familiarize yourself with the advantages and disadvantages of prenups and discover how Los Angeles prenuptial agreement attorneys can help you begin the process.
What Are Prenups?
Prenuptial agreements are documents created before a couple is legally married. This contract is a legally binding agreement detailing how the couple will divide their assets in the event they get divorced or in the death of one spouse.
Generally, those who have been married before, have children from a prior relationship, are high-net-worth individuals, or have a large amount of debt benefit heavily from prenups. If you don’t have many assets, you can still benefit from this agreement, so you should consider creating a prenup before you and your spouse say, “I do.”
What Are the Benefits and Downsides?
One of the only downsides of prenuptial agreements is that it may cause tension or awkwardness in your relationship if you and your fiance are not on the same page about creating one. It can be a tough conversation to have, and some may take it personally. Similarly, it may not be romantic to talk about divorce in the months leading up to your big day.
Prenuptial agreements are a great way to improve your relationship, as they require you and your soon-to-be spouse to discuss their finances and goals before the marriage. Though it can be challenging, communication can strengthen your relationship as it helps you get a deeper understanding of the other.
In California specifically, this is a great way to protect your assets, as California is a community property state. This means during a divorce, a couple’s marital property will be distributed equally between the couple, regardless of what each spouse contributed to the marriage financially.
Finally, prenups can help create a speedy and smooth divorce should you and your partner decide to separate. In many divorce cases, the division of assets is a highly contested issue, which can drag out the process. A prenuptial agreement ensures that the transition from married to divorced goes as smoothly as possible.
How Can a Riverside County, California Divorce Attorney Help?
If you and your spouse are interested in creating a prenuptial agreement, you must enlist the help of a competent lawyer to ensure your contract is legally binding and valid. Trying to navigate this process on your own leaves you vulnerable to creating a document that cannot be upheld in court, meaning you and your spouse will have to submit to California’s community property laws.
At the Zitser Family Law Group, we understand how essential this document is to creating a healthy marriage. Our legal team has the experience to help draft a prenuptial agreement for you and your spouse. Contact us today to learn more about how we can help you and your fiance.