When Should I Consider a Prenuptial Agreement?

Having a conversation with your soon-to-be spouse regarding the possibility of divorce might seem like a poor way to kick off your life together. However, discussing the potential end of your relationship and making decisions ahead of time can not only help you avoid uncertainty and conflict in the future, but it can actually strengthen your relationship and help you understand the issues that are important to both of you. In many situations, a prenuptial agreement can be critical to ensure that a potential divorce does not compromise your financial well-being. If you are considering signing a prenup before getting married, you should work with an attorney to ensure your agreement will protect your rights and meet your needs.

What Is a Prenuptial Agreement?

Before looking into the possibility of establishing a prenuptial agreement, it is important to understand what this type of agreement actually entails. In short, a prenuptial agreement is a document that establishes how certain matters will be handled in the event that a couple’s marriage ends through divorce or death. A prenup can decide how community property (assets and debts acquired by a couple during their marriage) will be divided, and it can determine how spousal support payments will be structured. However, a prenuptial agreement will not cover issues such as child custody or child support. 

Why a Prenuptial Agreement May Be Necessary

A prenuptial agreement may not be necessary for everyone, but it can provide essential protections for people in certain situations. If you have children from a previous marriage, your prenup can establish how you want them to be financially taken care of in the case of death or a divorce. If you own a successful business, or if you earn a higher amount of income than your partners, a prenuptial agreement can establish your separate assets and can explicitly describe how community property will be divided. If your future spouse has accumulated large debts, a prenup can state that they alone will be responsible for these liabilities in the event of a divorce. 

If you believe that a prenuptial agreement will be needed to protect your financial well-being, it is best to discuss the agreement with your partner well in advance of your wedding date. If a prenup is signed too soon before getting married, this could be seen as a sign that a spouse was coerced into signing it, and the agreement could potentially be found to be invalid. 

Contact a Los Gatos, California Prenuptial Agreement Lawyer 

If you are considering a prenuptial agreement, Attorney Benita Ventresca will walk you through the process of developing a document that will protect your financial security. Having a prenup in place can help you avoid a great deal of uncertainty and stress about your future. To schedule a complimentary initial consultation with a knowledgeable Los Gatos family law attorney, contact us today at 408-395-8822. 

Sources:

https://www.forbes.com/sites/christinefletcher/2018/09/18/10-things-you-need-to-know-about-prenups/#7a24226e62ba