Santa Monica prenuptial agreement lawyers
Most people get married with the expectation that their marriage is going to last forever. Unfortunately, that is not the reality for many couples. Half of marriages will eventually end in divorce. That is why it is important to have a prenuptial agreement. A prenuptial agreement outlines what happens to property and assets if the couple gets divorced. There are several benefits that you can reap from having a prenuptial agreement.
Prevent the State From Dividing Your Property
You have to decide how the property will be divided, or the court will make that decision for you. The law in California states that any property that the couple acquires during the marriage will be divided up equally. However, if you acquired property before the marriage, then it will be considered separate property. Because property division is often one of the main sources of contention in a divorce, it is best to decide how the property will be divided before the marriage.
Protect You From Your Spouse’s Debt
You merge your debt with your spouse’s debt when you get married. However, you do not want to be held responsible for your spouse’s debt after the marriage is over. A prenuptial agreement can prevent you from being held liable for your spouse’s debt after a divorce.
Provide for Yourself After the Divorce
It is common for one person to stop working so that they can stay home and raise their children. If you stopped working to raise the children, then you may have to go back to work after you get a divorce. However, it can be difficult for you to find a job if you have been out of the workforce for years.
You can get child support, but that will end after your children turn 18. A prenuptial agreement can lay out the financial responsibilities of the other spouse if the two of you were to get divorced. You may also be able to get spousal support.
Protect Your Business
Your business can be considered marital property. You can protect your business by getting a prenuptial agreement. You won’t have to worry about losing your business if you get divorced.
Keep Family Assets in the Family
You need a prenuptial agreement if you have a family heirloom that you want to protect. In some cases, a parent may want their adult child to sign a prenuptial agreement. This will prevent their former daughter or son-in-law from getting the family heirloom.
Protect Your Children
You may decide to get married again after you get a divorce. This can affect how property and assets are distributed after you pass away. You can ensure that the property rights of your children are protected. You can designate certain assets to go to your children in the prenuptial agreement.
California allows you to designate pet custody in your prenuptial agreement. If you do not have a prenuptial agreement, then the state can decide who will get custody of the pet.
Avoid a Long, Drawn Out Divorce
A divorce can be a long, complicated process. In fact, it can sometimes take years for a divorce to end. Divorces are never easy, but a prenuptial agreement will make the process go a lot more smoothly. You and your spouse will be less likely to have a bitter divorce if the two of you do not have to fight about who get what. The two of you can get through the process as quickly as possible and move on with life.
Why You Need to Have an Attorney
You and your spouse can come with a prenuptial agreement without any legal help. However, it is a good idea for you to hire an attorney to help you. The attorney will be able to give you legal advice. They will make sure that you understand how the laws in California will affect your prenuptial agreement. If the judge sees that you and your spouse got legal advice, then it will be easier to uphold the agreement in court.
Your lawyer will also make sure that the terms of the contract are fair to both parties. Additionally, your attorney will outline the risks and benefits of having a prenuptial agreement.