Why is a Prenuptial Agreement Important?
Prenuptial lawyer in Orange County: If you are wondering why is a prenuptial agreement important – Obtaining a prenuptial agreement is important to consider before getting married if you have separate property that you do not wish to ever be considered community property. This is something both parties will want to consider before they are married. By setting up a prenuptial agreement this protects both parties separate property and limits exposure in the event of a divorce. In the California Family Law code when a couple is divorcing their assets and debs are divided equally. Depending on the length of the marriage and needs of the parties, spousal support may be an issue among others that may arise. If you have written up a prenuptial agreement the assets you obtained prior to your marriage can be protected. Each party can agree in advance to treat these as separate property of a party. When the characterization and division of property is agreed upon a head of time in a writing, this could potentially help the divorce process move faster, and more smoothly.
Prenuptial agreements protect both parties’ assets prior to marrying one another. With a prenuptial agreement the parties will decide amongst one another which items they would like to consider “separate property”, this signifies that if, in the event, the parties marriage does not work out and a divorce is necessary the “separate property” will not be involved when the parties community property is divided 50/50. Of course this protection only exists if the prenuptial agreement was prepared properly and each party had legal representation.
Although discussing financial issues with your soon to be husband or wife can be difficult, it is important to have open lines of communication. If you work out your financial situation prior to marriage this can help avoid future arguments, or concerns you may have. Moreover, if you are still unsure whether a prenuptial agreement is right for you, please conduct some research on the matter, and speak to a legal professional to know your rights and the process involved in writing up the prenuptial agreement.
For more information contact the Prenuptial lawyer in Orange County
For additional information regarding family law and prenuptial agreements, please call your local family law attorneys. Please call Yanez & Associates at 714-971-8000, for your free initial consultation. We look forward to assisting you with your family law matter.