Preparing to marry is an exciting time of anticipation and hope for the future. While looking forward to a life together, few California couples want to consider what could happen if the marriage ends in divorce in the future. Consideration of this possibility is prudent, even for couples who believe that they will never divorce or who assume they are not wealthy enough to justify a premarital contract. A premarital agreement can provide benefits for most couples.
Before walking down the aisle
A marriage joins together two lives, including the finances of two individuals. A divorce requires the division of all marital property, and this can be complex, emotionally challenging and stressful. One way to avoid this is to draft a prenup before a couple even walks down the aisle. This document outlines how the division of marital property will work in case of a divorce, and it can address other financial matter as well.
Prenups provide clarity regarding financial responsibilities during the marriage, as well as how they want to divide property and debt in a divorce. It protects the interests of both parties and reduces the need for litigation in the future. These are important benefits for California couples of all income levels.
Planning for the future
Drafting a prenuptial agreement is not assuming that a marriage will end in the future. It is simply a way for one to be prepared for certain contingences, providing peace of mind for both parties. It might help to seek legal guidance regarding the specific legal terms that will be most beneficial to include in the individual prenup.