Why You Should Get a Prenup
Prenuptial agreements, premarital agreements, or “prenups” can help you and your spouse begin married life on a sound foundation. The benefits of prenuptial-postnuptial agreements go beyond making a divorce less stressful and costly.
Signing a prenup can also provide a framework for couples to discuss financial matters and expectations before the wedding. Financial matters are among the most common reasons for marital arguments and divorce.
Many things can be included in a prenup. Therefore, the topics of conversation for a prenup can be wide-ranging. Discussing money and property before marriage offers financial clarity before intertwining assets, debts, and other financial responsibilities.
Encourages Healthy Communication Between Partners
Discussing a prenuptial agreement encourages couples to communicate effectively, positively, and openly. In addition to discussing their financial goals, negotiating a prenup allows the couple to discuss their financial expectations.
For example, a couple may have different views on prioritizing saving for retirement versus spending money on vacations and recreational activities. A couple may have different beliefs about paying for a college education for their children. One partner may believe children are responsible for college tuition, while the other partner believes a parent should provide for college if their child wants to attend.
Open discussion about money and expectations before the marriage can avoid arguments about finances during the marriage. It also helps couples learn how to work together to resolve financial issues and disagreements in a positive manner. Working on a prenup can increase a couple’s chances for long-term success in numerous aspects of their relationship.
Reasons To Sign a Prenup in Los Angeles, CA
Well-meaning people may tell you that asking for a prenup can ruin your relationship. They might ask you if you believe in “happily ever after” if you are planning for a divorce. However, if you are uncertain whether you need or want a prenup, consider these benefits of signing a prenuptial agreement:
Protecting Business Interests
Business owners and entrepreneurs invest significant amounts of time, money, and effort into building their businesses. California is a community property state. If you are not careful, your business could become marital property.
A prenup helps you protect business interests by defining the ownership interest and determining how the business is divided during divorce. A prenup prevents costly disruptions to your business operations by avoiding arguments about ownership during a divorce.
Safeguarding Separate Property
A prenuptial agreement defines the property each partner brings into the marriage and how that property will be treated during a divorce. The agreement ensures that separate property is not subject to property division by identifying it appropriately before the parties marry.
Protection From Debt
A prenup identifies which debts will be considered joint debts to be divided between the parties during a divorce. It also identifies debts that will be the sole responsibility of a spouse after divorce. Identifying pre-existing debts is an essential element of negotiating a prenuptial agreement. It can prevent spouses from becoming responsible for debts they did not incur.
Spousal Support Obligations
A prenup may include agreements regarding alimony and spousal support. The terms can specify the type, amount, and duration of alimony payments. The agreement helps protect a spouse who agrees to be a homemaker during the marriage.
Protecting Children and Family Members
A party may have children from a previous relationship. They may have family heirlooms or interests that need protection. A prenup can identify assets that remain separate property. It can also address complex family situations, including blended families. However, a prenup does not take the place of estate planning.
Avoiding Divorce Litigation
A prenup provides the terms for the divorce settlement. It reduces the time and cost of a divorce by avoiding a contested divorce. A prenuptial agreement streamlines the divorce process, allowing the parties to obtain a divorce more quickly because they have already agreed upon the divorce terms.
Reduces the Emotional Stress of a Divorce
Even marriages that end amicably can result in emotional stress. Avoiding the necessity of divorce negotiations can reduce the emotional distress that many couples experience when ending a marriage.
Always Seek Legal Advice When Entering a Prenuptial Agreement
A prenup is a binding legal contract when it is executed correctly. A court can enforce the terms of the prenup. Because a prenup may restrict or eliminate some legal rights during a divorce, it is crucial to have legal advice and guidance when negotiating and executing a prenuptial agreement.
An experienced prenuptial agreement lawyer in California can help you determine what is in your best interest. They can also work to ensure that the agreement is legally binding and protects your rights.
Contact a California Divorce Lawyer Today
For more information, contact our experienced California divorce lawyers at Berenji & Associates Divorce Lawyers by calling (310) 271-6290 to schedule a consultation.
We serve all through Los Angeles, Beverly Hills, Los Angeles County, and its surrounding areas. Visit any of our offices at:
Berenji & Associates Divorce Lawyers Los Angeles Office
550 S. Hill Street STE 1467
Los Angeles, CA 90013
(213) 277-2586
Berenji & Associates Divorce Lawyers Beverly Hills Office
9465 Wilshire Blvd #333
Beverly Hills, CA 90212
(213) 277-2586