Falling in love and preparing to marry is an exciting time for a California couple, but it is also a time to prepare for the future. For individuals who have been in marriages previously, it will be especially important to shield financial interests and ensure long-term security through a prenuptial agreement. This type of contract can provide peace of mind for individuals who are concerned about the potential financial implications of a divorce.
Protection and security
Marriage is a serious long-term financial commitment. Creating a prenup can provide both parties with the opportunity to define separate assets, specify financial responsibilities of each spouse and decide what will happen to marital property in case of a divorce. The creation of this type of agreement can lead to important conversations between two individuals who are about to share their lives.
It may help to remember that comingling assets could make property division more complicated during a divorce. In a prenup, couples can include terms that will help them clearly define the role of each party and how they will keep their assets separate, if that is what they choose. A prenup can also include terms that will allow one to protect his or her retirement assets.
Looking ahead
Creating a prenuptial agreement does not mean that a California couple is planning to divorce. It is simply a way for the two parties to protect what they are bringing into the marriage and their long-term interests. This type of contract is especially useful for individuals who have been in marriages previously or have specific financial concerns they want to address before marriage.