Pico Rivera prenuptial agreement lawyers
Any couple needs to enter into a pre-marital agreement before getting married to each other. This should happen regardless of the net worth of each of the parties to the marriage. Prenuptial agreement comes in mostly when entering into a high net worth marriage. The deal comes in hand when the marriage comes to an end; it reduces the complications involved in the separation process, especially concerning finances. The agreement also ensures that both spouses and financially secure, and the children can access the assets in an event where the spouses enter into another marriage.
Prenuptial agreements are governed by the particular laws of the state in which the couples reside. It implies that they may differ from one country to another. The content and manner in which pre-marital agreement will be handled in California may not be the same as New Jersey. However, the parties must have a representation of an attorney who is familiar with the drafting of the prenuptial agreements. The agreement must also address all the possible concerns of each of the parties. In an event where there is a dispute, the document will be admissible in court.
The agreement must be entered into voluntarily by both parties. Suppose the courts decide that one of the parties to the deal did not understand the agreement’s content or was coerced to sign the agreement or that the contract is unconscionable. In that case, the court could nullify the validity of the document. When entering into a high net worth marriage, it is essential to follow all the necessary steps to ensure that your spouse understands all the agreement’s implications before signing it to ensure protection if the marriage comes to an end. Your ex-spouse will not use it against you.
Protection from Debts
Sometimes, one spouse might be into so many debts before marriage. If the wedding takes place without the prenuptial agreement, the spouse will bring the marital debts. Sometimes, the other party may not be aware of the other party’s obligations until marriage occurs. This is a critical issue to discuss before the wedding because if the marriage ends, the other party is likely to inherit his or her spouse’s debts. The prenuptial agreement can put a limitation on the non-debtor spouse’s liability and bar the lenders from going after the marital property to repay the debt.
Protection of Assets
Some laws govern the division of property and support from spouses when marriage comes to an end. The prenuptial agreement can be used to override these laws. The deal will give a specification of how marital and non-marital assets will be divided should a divorce arise. A perfect prenup will provide a good support plan for your estate. It is easier to deal with the distribution of assets where there is a valid prenuptial agreement.
Financial Security for both parties
A prenuptial agreement comes in hand to ensure the spouses’ financial security, especially in an event where one of the parties to the marriage is wealthier. The more decadent party would want to protect their wealth and limit the amount and the extent to which they can offer spousal support should a divorce arise. The spouse who is not so wealthy would also want a promise of financial security or pecuniary assistance in an event where the marriage ends. As a result, the agreement would have protected both parties financially.
A business owner would want to protect his or her business should a marriage come to an end. The protection could be in terms of finances and intrusion from the ex-partner. Without the prenup, the ex-spouse who does not have any claim might acquire a significant portion of shares in that business when the marriage comes to an end. In this case, the business owner will have to buy out the non-owner ex-spouse’s claims, causing detrimental effects in the business’s cash flow, or he or she will have to put up with interference of the non-owner ex-spouse in the business decision making. A prenup would be the ideal route to follow to protect one’s business.
A prenuptial agreement is a useful tool for both parties to a marriage. It helps them protect their businesses, their assets, protect them from debts, and ensure their financial security in an event where the marriage comes to an end. The agreement elaborates everything, including how assets would be distributed should a divorce arise. Signing a prenuptial agreement prevents all the complications that arise when spouses want to separate. Sometimes, violence occurs. However, with the prenup, the divorce will be concluded smoothly without any complications or violence. Make a point of signing a prenup for your peace of mind.