No one enters a marriage thinking it will fail. Unfortunately, however, many marriages do not work out. As unnecessary as it may seem to consider a prenuptial agreement, couples should always work to ensure the safety of their assets in the event of a divorce.
Prenuptial agreements are not selfish reservations of property, but rather an opportunity for couples to develop a detailed plan for their future, financial and otherwise. For example, a properly drafted prenuptial agreement can help ensure that children from a previous marriage are provided for, or that family heirlooms remain in a spouse's family, regardless of what may happen in the marriage.
Under California law, all property accumulated during the course of a marriage is considered to be community property and, at the time of divorce, will be split equally. Even if one spouse or domestic partner is responsible for earning all of their household's income, upon divorce, all income earned and property gained during the marriage would be divided equally.
Prenuptial agreements allow couples to bypass these default rules and decide for themselves how their assets are distributed in the event of a divorce.
Who should consider a prenuptial agreement?
Everyone considering marriage should consider a prenuptial agreement. Just as putting on a seat belt does not make drivers more likely to be in a car accident, taking the time to discuss and sign a prenuptial agreement does not render couples more likely to seek a divorce. Prenuptial agreements are there to provide a safety net and some measure of control if the worst happens.
If you are engaged and considering a prenuptial agreement, an experienced California attorney can help guide you through what is possible, what you can protect and how to best manage your financial future.
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