A prenuptial or postnuptial agreement is a great way to protect assets in the event of a divorce. Most individuals can benefit from having some type of agreement when entering into a marriage, especially those who have businesses, significant assets or children from a previous relationship.
While prenuptial agreements can serve many purposes, there are some specific legal issues that it can (and cannot) address. Issues such as child support amounts and spousal support (sometimes called alimony) often times cannot be pre-determined.
It is important that if you choose to have some type of agreement that it is carefully crafted. While a simple, quickly drafted agreement may offer some form of asset protection in the event of a divorce, it may not fully protect your interests.
So, what can you do? Take time to learn about what the purpose of a prenuptial agreement. Learning about the benefits of a prenuptial or postnuptial agreement before you sign the document can help you make an informed decision.
There are many considerations to make when crafting a prenuptial or postnuptial agreement. Once the agreement is finalized, it is also important to consider the enforceability of the agreement in the event of divorce.
Are all parts of the contract enforceable? Are there financial ramifications if you want to deviate from the agreement? How much will California courts consider the agreement in divorce?
These are excellent questions to discuss with a divorce and family law attorney when you consider having a prenuptial or postnuptial agreement. Ultimately, you should make a decision based on your goals and your needs.