Rosemead prenuptial agreement lawyers
A prenuptial agreement gives you and your partner an opportunity to stipulate terms with regard to property rights and other issues in your marriage.
Gone are the days when no one wanted to have anything to do with a divorce. More people are getting divorced, than ever before. This means that couples need to plan ahead in light of this new trend.
Creating a prenuptial agreement is simple. All you have to do is imagine a scenario where the two of you have agreed to terminate the relationship. How will you divide the property? Who will take custody of the children? How about the marital home?
These are just but a few of the questions you should ask yourself, when formulating a prenuptial agreement. It would also be good to seek advice from a divorce lawyer, about things that you are not sure about certain things.
Having said that, there are several reasons why a prenuptial agreement is important to couples, getting married. Below are some of the reasons:
1. To keep your assets and finances separate
The main purpose of a prenuptial contract is to define what you consider as private property from marital property. It is upon you do determine if your private assets such as a car and business will be part of marital property.
The following are some of the circumstances where separating assets through a prenuptial agreement is important:
• If you think you are richer than your partner – a prenuptial agreement will eliminate the doubts that he or she is marrying you because of your property
• If you are running a business empire – a prenuptial agreement will prevent your spouse from laying claim to it
• If you earn a higher salary than your spouse – the contract can help to minimize the amount of alimony in case of a divorce
2. Protect yourself from the burden of debt
There’s no doubt that many people are entangled in debts. Unfortunately, some will try to use marriage as a way of running away from those debts. In case of a divorce, the court might decide that both partners must repay the debts equally.
This is obviously unfair to the other partner. But with a prenuptial agreement, partners will have to lay bare all their assets and liabilities. They will then agree on how much the other partner will contribute to settle the debt in case of a divorce.
3. Property rights and distribution
Most states have divorce laws that stipulate how marital property should be divided in case of a divorce. Most states dictate that such property be distributed equally among partners. But with the equitable distribution law, property is usually divided fairly, considering a number of factors.
The court process can be long and tedious when it comes to property distribution. That’s why most couples prefer outlining how the property will be shared out through a prenuptial agreement. With a prenuptial contract, there will be no need to involve the courts in the division of property.
4. Avoid stressful situations
A divorce process can cause a lot of stress and frustrations between two people. Although you may not foresee a separation, things can get to a breaking point, where the two of you can’t bear with one another.
It is good to have a plan in place for such eventualities. For example, you should discuss who will take custody of the children, who will keep the marital home among other issues, in advance. Agreeing on such things through a prenuptial contract will save you a lot of stress during the divorce process.
5. To protect family property
You could be having an heirloom that you don’t want to be taken away from your family, in the event of a divorce. A prenuptial agreement will ensure that such property is well protected and doesn’t fall in the hands of your ex-spouse.
Additionally, a prenuptial contract can be used to address any issues to do with inheritance and make sure that your property is distributed according to your wishes.
The importance of a prenuptial agreement in today’s society cannot be overemphasized. Various studies indicate that a big percentage of marriages today do not last. This means that those getting married should marry each other bearing this fact in their minds.
What is a Prenup?
A prenuptial agreement (also called antenuptial, or premarital agreement) is a contract between two people who are planning to wed.
Why Should I Have a Prenuptial Agreement in Place?
In fact, prenups are not only for rich people. A prenup can, for example, protect you from later having to take responsibility for your spouse’s debts. It can also help prevent arguments in the event of a decision to divorce, according to Rocketlawyer.com.
With a prenup in place, you can:
- Be secure that your assets are passed on how you would like them to be
- Have documentation in writing verifying the ownership of your property, that of your spouse and all property that is jointly owned
- Have an inventory of each spouse’s separate property
- Be clear about the legal ownership of any property, assets and income gained during the marriage .
- Be clear on how you and your spouse’s finances should be dealt with under a variety of circumstances.
Does a Prenup Have to be Done by a Lawyer?
As with any contract, you can draw up a prenuptial agreement without a lawyer. There are prenup templates, some of which were supposedly reviewed by licensed lawyers. That said, can you do a prenup that can be enforced under the laws of your jurisdiction?
All jurisdictions have their own statutory and case law regarding what is and is not permitted in a prenup. Only a seasoned attorney would know and understand what these are to incorporate in your prenup.
prenups in California can differ from marriage and divorce legislation
The Family Code of California delineated the respective rights and obligations of the spouses. Some of these marital rights are negotiable and can be circumvented by an agreement.
There can also be terms in the contract for making decisions in the case of the unfortunate death of a spouse.
Certainly, prenups in California can differ from marriage and divorce legislation.
How Can I Know That My Prenup is Valid?
For your prenup to be valid:
- It needs to be in writing,
- It must have been voluntarily signed by both spouses
- There must have been a wedding between the parties who signed.
When a marriage is annulled, any prenuptial agreements in place may prove impossible to enforce, or enforcement may only be minimal.
Limitations of the Scope of a Prenup
Here are several important limitations to the scope of a prenup in California:
- Alimony/Spousal Support – Unfairly Waived The court will not enforce clauses in the agreement that limits on spousal support if the spouse whose rights have been reduced or revoked had no opportunity to retain their own legal representation at the time they signed.
- Alimony/Spousal Support – Unconscionable Waiver If a court deems the waiver of spousal support unconscionable, they can decide against upholding it and award support.
- Child Support The California Family Code states that “[t]he right of a child to [receive] support may not be adversely affected by a premarital agreement.”
- Obligation to Commit a Crime A contract that obligates the one or both of future spouses to commit crimes or otherwise violate laws or public policy cannot be deemed valid.
- Lifestyle Clauses in Prenups Lifestyle clauses, like clauses layout terms related to sex between the spouses or those curtailing visits from in-laws normally are not enforceable by in a court of law.
The Uniform Premarital Agreement Act
To see all of the applicable statutes relating to prenups in the state of California, please refer to The Uniform Premarital Agreement Act.