Preparing to marry is an exciting time, and at this point, most California couples are not considering what could happen if they divorce in the future. It seems unromantic and perhaps even bad luck to talk about that contingency, yet alone plan for it. Most people skip drafting prenuptial agreements because they think they don’t need them or won’t benefit from it. In reality, almost every couple could benefit from this protection.
All income levels
Some people assume that drafting a prenuptial agreement is an assumption the marriage will end in the future. Others assume this type of contract is something reserved only for the wealthy. Both of these assumptions are false. Consider the following:
- It protects separate assets that both parties will be bringing into the marriage.
- It can protect one party from leaving the marriage with an unfair amount of jointly accumulated debt.
- It can include clauses that are specific to a couple’s needs and objectives, such as the payment of spousal support.
When there is a prenuptial agreement in place, it will reduce the chance of costly and stressful litigation in potential future divorce litigation. It can also provide peace of mind for both parties.
The right terms
A prenuptial agreement can provide financial security for both spouses. This is an important step for everyone, even if they are not wealthy or do not have valuable assets. It is important the terms are fair and reasonable, and it is helpful to have the assistance of a California family law attorney when drafting this type of marital contract.