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Lost Gatos, CA prenuptial agreement attorney

Every single year, thousands of couples in the state of California make the difficult decision to file for divorce. While some divorces can be fairly amicable, the divorce process almost always comes with complications. In some cases, the development of a prenuptial agreement can save you time, money, and disputes down the road. Below, we will explain the benefits of a prenuptial agreement, and why it may be wise for you to speak to your significant other regarding your finances prior to marriage. 

Why You Should Consider a Prenuptial Agreement 

Often called a prenup for short, a prenuptial agreement is a written contract developed by two people prior to their marriage. The agreement will dictate how property and assets will be divided in the event of a divorce. While asking your future spouse to sign a prenuptial agreement may be a difficult conversation, the agreement can ensure your financial security and save you from the possibility of a contentious divorce. 

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CA divorce lawyerCouples who are planning to get married are not likely to be thinking about divorce. However, taking the time to consider how certain matters will be handled if their relationship ever ends can save them a great deal of difficulty in the future. By creating a prenuptial agreement, a couple can make decisions about issues such as the division of property or spousal support, ensuring that their rights and financial security will be protected, no matter what happens in the years to come. Here are some benefits that a prenuptial agreement can provide:

Protecting assets - California is a community property state, which means that property owned by married spouses must be divided equally during divorce. A prenuptial agreement can specify each spouse’s ownership rights to any property owned by a spouse prior to getting married or acquired by married spouses. This can be especially helpful when one or both spouses own business interests since an agreement can determine how business ownership will be handled and ensure that the business can remain operational after divorce.

Assigning responsibility for debts - If either spouse has significant debt, a prenuptial agreement can make decisions about who will be responsible for this debt after divorce. It may also specify how the spouses’ incomes will be allocated to pay for debt during their marriage.

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California divorce attorney, California mediation lawyerYour marriage is coming to an end. No matter how long it lasted, this portion of your life changed you. You built a life together, no matter the condition of it. Now you are returning to the single life but a little older, maybe some children, and maybe some items. To get there, all the life that you created needs to be systematically divided. For business owners, there is the additional duty to divide up the company. Will you go into your new life with or without a business?

Business Acquisition

There is no “one size fits all” solution to any property division during divorce. What works for one family will not function for another. Each household situation is as unique and different as a thumbprint. However, there are guidelines and stipulations that a judge would follow, should your divorce require litigation. Most of the emphasis is placed on the acquisition of the asset itself. In the case of a business entity, it is more than just who purchased it and at what point in the marriage it was acquired. Consideration is given to:

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Posted on in Property Division

b2ap3_thumbnail_divison-of-assets.jpgA dissolution of marriage, also known as a divorce, is a very emotional situation. Regardless of whether it is joy, anger, sadness or stress, both sides are very likely to be running on an extreme version of whatever their emotional reaction is. Unfortunately, emotions tend to cloud our logical thought processes, making subjects like dividing up the property even more difficult. Yet, countless couples overcome these obstacles on a daily basis, and we assure you that you will, too.

Your Checklist

Every divorce is different, however, the property list is nearly always fairly similar. While your actual checklist may vary from the following list slightly, some of the major highlights could still be present. Here is a list of assets that divorcing spouses should discuss in terms of how they are willing to divide them:

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20 S. Santa Cruz Ave., Suite 212
Los Gatos, CA 95030

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