Table of Contents
What constitutes a prenup?
A prenuptial agreement, commonly referred to as a prenup, is a written contract you and your spouse enter into before getting legally married. It details exactly what happens to finances and assets during your marriage and, of course, in the event of divorce.
Why you should consider a prenup?
No matter what their financial circumstances, a prenup allows a couple to take their financial future into their own hands, rather than having it dictated by state laws. A prenup can also help avoid the cost of litigating a divorce, since the end terms of a marriage have already been laid out at a more harmonious time.
What happens without a prenup?
Without a prenup, the laws of the state will determine how marital property is divided at divorce. Generally, in California, if you divorce without a prenuptial agreement, spousal support is set based upon the income of the parties and the marital standard of living.
Why you shouldn’t sign a prenup?
If you can’t afford to hire a competent attorney. Sometimes,you get what you pay for.
Should you get a prenup?
The main reason for signing a prenup is to ensure the financial stability of the significantly well-off member of the union. If you don’t have a prenup, the financial settlement proceedings of a divorce can financially ruin the other spouse of the now void marriage. So, it’s only wise for many obvious reasons to get a prenup.
Who needs a prenuptial agreement?
You are much wealthier than your partner. A prenuptial agreement can ensure that your partner is marrying you for who you are,and not for your money.
What should be on a prenuptual agreement checklist?
Prenuptial Agreement Checklist Talk to Your Partner First. Have a conversation with your partner about the prenup as soon as you can. List of Assets & Debts Before Marriage. Property Acquired During Marriage. Income and Asset Management. Tax, Debt, and Credit Issues. Contributions. Spousal Maintenance. Family Gifts. Filing Taxes. Paying for School.