When a couple makes the decision to get married, divorce generally is not an issue that is on their minds. That is why a prenuptial agreement may seem like a taboo topic for a couple in this position to discuss. However, a couple should not think of a prenuptial agreement as planning for the end of their relationship. Instead, it is simply a contract that both spouses enter into prior to marriage.
The main purpose of a prenuptial agreement is to establish property rights. While prenups are often thought of in the context of wealthy individuals, they have other purposes as well. One of the most common is to protect a family business. Other potential uses of a prenuptial agreement include clarifying financial rights, determining how property will be deal with if one spouse passes away or protecting one spouse from assuming the existing debt of the other. This contract is generally also a guaranteed way to avoid a long and expensive divorce process.
Are Prenuptial Agreements Valid in California?
Once people understand more about the true nature of this type of agreement, they often want to know if it is something that is valid in the state of California. The answer to that question is yes. And for couples who do not have a prenuptial agreement, state law will determine how property is divided if marriage ends in a divorce. This means that property, as well as other assets and debt, will be split in a way that neither spouse will have as much control over as they would probably like.
Can You Get a Prenuptial Agreement After a Wedding?
As previously mentioned, the most common reason that couples who are planning to get married are hesitant to visit a family law attorney in Northern California to discuss a prenuptial agreement is they think it will create negative feelings about their wedding. But even if a couple is not worried about that aspect of a prenuptial agreement, they may not be at a point where they can make fully informed decisions about this type of contract.
Making legally binding decisions about property and other assets after a wedding can be done through a postnuptial agreement. This document can be created at any time after a couple is married. Not only does a postnuptial agreement have many similarities to a prenuptial one, but it may even be able to address a greater number of topics. For example, if a couple accumulates assets together, a postnuptial agreement can be used to designate a specific split instead of having it labeled as community property by the state.
With both prenuptial and postnuptial agreements, it is important for documents to be created properly. Any mistakes with an agreement can result in part or all of it being thrown out in the event it is ever put in front of a judge. Continue reading →