Many couples choose to enter into prenuptial agreements, prior to marriage. Prenuptial agreements, also called prenups, can help protect the assets you had going into the marriage from becoming community assets.
They also put on paper all of the assets and debts you and your spouse are going into the marriage with so, if in the case of divorce, your property division will be simplified.
Many people find prenups unromantic and a difficult document to agree upon before taking wedding vows. Some people think prenups are just for the extremely wealthy. But it is always a good idea to protect your assets before marriage, no matter how significant.
Postnuptial Agreements
Postnuptial agreements are similar to prenups in that they seek to establish a clear idea of what each spouse has and what they should be entitled to should the couple choose to divorce.
However, a postnuptial agreement, set in place after a couple marries, cannot protect your assets to the extent that a prenup can. Still, many couples may enter into a marriage with very few assets and then through the course of the marriage, acquire significant assets. In this case, a postnuptial agreement may provide some protective measures by putting in writing what each spouse has brought to the marriage and who has contributed what. This document will serve as a guiding force during the property division in a divorce when who owns what is often up for hot debate.
A postnuptial agreement is a legal document, however, is not legally binding in so much that whatever property division was initially agreed upon can be altered based on the circumstances of the divorce. This effectively saves some of the heartbreak and stress of fighting over who gets what during a divorce, a time when your focus should be on starting anew and not fighting bitterly for family heirlooms or savings accounts.
Speak to an experienced family law attorney if you have questions about a postnuptial agreement. A skilled attorney will be able to evaluate your assets and advise you on how best to protect them, even after marriage.
Are you in the Los Angeles area and have questions about postnuptial agreements? Certified Family Law Specialist Steven Fernandez has experience representing high net-worth individuals and handling complex divorces in Los Angeles County.
Serving the Los Angeles and Beverley Hills area, Steven Fernandez can ensure your assets will be protected in a divorce. Call our office at 310-564-5710; email us at intake@cfli.com or contact us through our online form today to schedule a free consultation.