When a couple is preparing to get married, the possibility of divorce is often the last thing on their minds. The reality, however, is that divorces are common throughout the United States, and it can be wise to prepare for the possibility that the marriage may come to an end. In some instances, a soon-to-be spouse may feel the need to establish a premarital agreement. In the state of California, a premarital agreement, which may also be called a prenuptial agreement or prenup, is an agreement that enables spouses to protect certain assets and ensure a financially healthy future in the case of a divorce. 

Why a Prenuptial Agreement?

A premarital agreement is not necessary in all situations, but for some, it can save significant time, money, and stress in the future by deciding how property will be divided in a potential divorce. If you have significantly more assets than your future spouse, it may be wise to consider a prenup. A prenuptial agreement may also be appropriate if you have a highly successful business, expect to receive a substantial inheritance, or have children from a previous marriage that you want to pass your assets down to. In other instances, if your future spouse has accumulated significant debt, it may be wise to develop an agreement that states that you are not responsible for the payment of said debt. 

As you look to establish a premarital agreement, it is important to understand the steps that must be followed in order to make the agreement official. Both parties must voluntarily agree to the deal, each party must have the opportunity to hire an independent attorney, and each spouse must have at least seven days to look over the agreement before signing it. If you fail to meet these requirements, the agreement may be void. Since there are a number of ways in which a premarital agreement can be deemed invalid in court, it is important to work with a qualified family law attorney to develop a prenup that meets the necessary legal requirements while addressing the needs and concerns of both parties. 

There is no way around the fact that a divorce can be an emotionally challenging process. Separating from the person you once loved can be one of the hardest times in your life. It is extremely important to approach your divorce with some level of professionalism. Your divorce settlement can ultimately dictate the future of your family’s living situation, as well as your financial security. The first and most important step you can take as you prepare for divorce is hiring an attorney who will work cooperatively with you to represent your best interests. In addition, you should be aware of some common mistakes to avoid during the divorce process that could have an impact on your financial security. 

Lack of Preparation

As you prepare to negotiate a divorce settlement, it is crucial to have a comprehensive understanding of your financial situation and be as prepared as possible. If one spouse managed the collective finances, it can be hard to understand what to protect. This means that you and your attorney need to collect documents such as tax returns and mortgage papers to completely understand the nature and extent of the community property assets and debts. 

Another step in the preparation process is to update any financial documents, such as wills, investment beneficiaries, or life insurance accounts. You should also be sure to separate all joint financial accounts. 

When a couple chooses to end their marriage, the process of separating from each other can be incredibly complicated. The vast majority of couples do not only share a life together, but they also share assets, financial accounts, and, in many cases, children. Because of this fact, the decisions made during divorce can have a drastic impact on the lives of both parties. Most notably, decisions involving spousal support and child custody can be significant. However, these critical decisions are not always final. In cases in which one party’s situation has significantly changed, a person can pursue a post-divorce modification. 

Areas Considered for Modification 

When a substantial change in circumstances occurs for one or both divorced spouses, one spouse may elect to file for a petition for modification, asking the court to modify the divorce decree. The two most common areas in which these modifications are petitioned for are: 

When a couple gets married, they never want to believe that divorce may be a possibility. In all reality, divorce is much more likely than many would like to assume. When a person ultimately makes the decision to pursue a divorce, there are a number of criteria they must consider. What will happen to any children involved? How will marital assets be divided? A divorce can drastically impact one’s financial situation and family relationships, and because of this, it is important to hire an attorney who can help you complete the divorce process successfully. 

Criteria to Consider Throughout Your Divorce 

Regardless of whether you plan to navigate your divorce through mediation or divorce litigation, it is important to fully understand how your life may be impacted by the end of your marriage. Some of the most important aspects of divorce to be aware of include: 

Every year, thousands of American couples make the difficult decision to pursue a divorce. While divorce can come with a number of challenges, it can also represent an opportunity to start anew. That being said, the divorcing parties must first resolve the issues that surround divorce or legal separation. At the Law Offices of Benita Ventresca, we provide divorce mediation services, and we firmly believe that the mediation process provides couples with greater flexibility and an opportunity to resolve their issues together. Still, mistakes can be made that can compromise the mediation process. 

What Not to Do During Your Mediation 

When a couple makes the decision to pursue mediation, they are choosing to cooperatively work through the dissolution of their marriage. This process can be incredibly effective, and it provides a couple with greater flexibility when resolving issues. However, the process can go awry if certain mistakes are made, including: