Pasadena prenuptial agreement lawyers

Posted By Aaron Denton, On August 25, 2020
Reasons Why Prenuptial Agreements are Important
Different people are motivated by different things to pursue prenuptial agreements. In most cases, it is always to protect each spouse’s interest, especially if they are getting into marriage as already established individuals. Some people may think of it as selfish, and a chance that breeds mistrust, but those who opt for this have their reasons. Are prenuptial agreements good? Should they be encouraged? While there is no straight answer to these questions, there are several benefits that come with these agreements. Consider the following benefits.

Separating Yourself for your Spouse’s Debt

Marriages are meant to start on a trustworthy point. Unfortunately, with today’s society, this reality is not always true. People tend to come into marriages with undisclosed baggage’s, making them a liability. Sadly, sometimes the other spouse is unaware of such baggage, especially in large debts, until the marriage is done. Having signed a prenuptial can help eliminate the chances of losing too much in case the marriage ends. The pre-nuptials will restrict the much an ex-spouse can cater for if they do not want to inherit debt. However, this has to be agreed upon before the marriage, as it can be problematic. It is easier if the debt is too obvious, and the spouse in question has nothing to hide. Signing the agreement can show confidence that it is not the money he or she is after.

When You Want to Protect your Assets

Whenever you are coming into a marriage with a considerable amount of wealth, you want to make sure this value is protected from the word go. Make sure the agreement specifies how marital and non-marital assets will be shared in case of a divorce. This is even more crucial if you have a substantial inheritance from a relative, and you need to safeguard it. Work with a lawyer who can help draft a prenuptial that supports your estate plans. It is much easier to follow up on a divorce claim if you have a clearly stated prenuptial agreement. The last thing you want is to lose property that has been in your family for years.

When Both Parties want to Ensure Financial Security

While this may not be a way to advocate for divorce, life sometimes turns out unexpectedly, and couples opt-out of each other’s lives. When this happens, worries about financial stability because of shared investments and assets creep in. This can be a very scary experience for someone who was once independent. To protect your interest, signing a prenuptial agreement is the best way to go. This way, you can always fall back to what you had before the marriage as you try to stabilize. This sense of financial security is something that most established individuals go for when getting into marriages. Even as couples hope for the best in marriages, it is always good to prepare for the worst.

Business Protection

This is probably one of the major reasons why people sign prenuptial agreements when they get married. If you met your spouse while running a successful entity, you might not be willing to put it at risk considering the hard work that went into establishing it. You can talk about a prenuptial agreement that protects the business no matter what happens between the two of you. This way, even with legal separation and divorces, the original company owner keeps the entire share just like it was before the marriage. Apart from the financial protection these agreements provide your business, there is the fact that there will be no interference from the ex-spouse in case you divorce.

Foster Healthy Financial Communication

While most of the other reasons mentioned above may be personal and biased sometimes, when a couple gets into a prenuptial agreement to enhance their financial communication, they are likely to make their marriage work better. This document is a legal agreement that happens before marriage. Most people have the misconception that these agreements are for the rich and famous only. On the contrary, they work for everyone since each person has an interest they protect. After all, assets are valuable regardless of who owns them.

It is possible to keep assets outside the marital space, but this only works when there is peace in the marriage. Sometimes the turbulence may run deep, causing serious rifts that could end up jeopardizing the assets of either spouse. For you to avoid such eventualities, it is safer and legally advisable to sign a prenuptial agreement that is comprehensive enough to even cover how retirement investments will be shared.

Prenuptial agreements address several issues, including division of assets during a divorce, debt allocation during a divorce, and Property use and ownership during a divorce. Hire the right lawyer to prepare your prenuptial agreement, making sure everything is clear before appending your signature. This should serve as your safety net in case of anything.