Redondo Beach prenuptial agreement lawyers
Each couple is unique and together they can draft their prenup. Some agree on a fixed amount of alimony, or alimony payments for a specific amount of time, or until there’s a trigger event of some sort. It is all up to both parties to decide how they want to dissolve their marriage if it happens in the future.
A Common Misconception About Alimony and Prenups
Most people think that a prenup will prevent someone from receiving alimony, and so they fear that concept – they immediately go against a prenup. They fear being in financial hardship, divorced with children, and perhaps no stable source of income. Little do they realize that a prenuptial agreement can actually protect them from these fearful scenarios. It is quite the opposite. A prenup is designed to protect both parties.
Determining and Amending the Terms of an Agreement
A prenuptial agreement creates transparency between two people. To enter the agreement, each individual has to state their assets. There are no secrets, no hidden agendas in the future, no fear of what’s to come in the worst-case scenario that divorce happens. It is all outlined from the beginning, with both parties deeply involved in each term of the prenup. This creates collaboration and it is a great way to start a marriage.
The topic of alimony must be discussed because it is part of what they need to “agree” upon. This will keep them out of nasty divorce battles in court. Without a prenuptial agreement, the couple’s future is left up to the court system that follows California statutes. It is not a good way to end a partnership, it creates further division and is detrimental for those families who have young children.
One must also keep in mind that the terms originally agreed upon in the prenup regarding alimony can be amended. This is seen when life circumstances change such as when a spouse quits their job for the collective benefit of the family as a unit.
Partners that previously agree on all terms are able to focus on building a good marriage and enjoy the peace that comes from not having uncertainty in their lives. It allows them to harmoniously split if it doesn’t work out and not have legal weapons up their sleeve to use against each other. It is comforting to know that their legal matters are in place and that they will swiftly get through the difficult event that is a divorce.
What’s the First Step to Create a Prenuptial Agreement in California?
The first step is for each partner to obtain legal advice from their selected attorney. Each party must be represented by their own legal counsel.
California has applied the UPAA (Uniform Premarital Agreement Act) since 1986. This law allows for the couple to enter into a written agreement that determines present and future rights to property and other matters in the marriage such as alimony. The statute has been amended and your attorney will find the best way to navigate through your case.
The couple has to agree upon different terms and present them in front of their legal counsel so that a mutually beneficial agreement can be signed and made valid. This type of agreement is a legally binding contract and must include certain information.
These are some of the essential pieces of information to prepare when you are considering a prenup. This is not an all-inclusive list, it points to some major components such as:
1. List of assets that each individual possesses and is seeking to protect.
2. Current debts that each person currently has.
3. Any property, if any, that has been acquired in a partnership between them.
4. Bank accounts and trusts.
5. Business ownership or interests.
In addition to this information, both parties need to consider what will go into the agreement. They’ll have to agree on the terms of alimony, anything related to the marriage, and how the property will be distributed if a divorce comes about.
Selecting a Family Law Attorney
When choosing your legal team look for experience in this particular topic. A good attorney will recognize that matters that pertain to marriage and divorce involve complex issues that are sensitive to deal with. Also, that these proceedings may have a long-lasting impact on a family, their finances, and the quality of their future.
California has particular laws that apply to marriage and divorce. A knowledgable attorney will help you navigate through your obligations and rights.