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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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Posted on in Property Division

California divorce lawyer, California family law attorneyDuring a divorce, everything that constitutes a marriage must split into two separate lives. While this is a natural process for some couples and even for select assets, for others, the disunion is much more complicated. Occasionally, the bond that ties the two may not ever be entirely separated, such as those with children. In other scenarios, the large assets of property division are where contentions arise. The most common question asked by couples struggling with the last scenario pertains directly to the most significant investment many couples make: who gets to keep the house?

What Is the Purchase Date of the Home?

Believe it or not, the purchase date, or closing date, of a home, can make a large difference as to who gets to keep the home. Consider that California is a community property state, meaning all items purchased and investments made during the marital union all belong to both parties equally as “community property.” Anything owned before the marriage began, after filing the divorce papers, or any items earned outside of the marriage, all are “separate property.” Separate property stays with the owner after the finalization of the divorce. However, this is not a certainty as other factors may play a factor, such as mortgage payments, improvements, and maintenance. Occasionally, a separate property home becomes community property with the right investments.

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