Prenuptial & Postnuptial Agreements
Understanding Marital Documents
If you are currently engaged to be married or are currently married, you likely have assets that you want to protect. At Barnholtz & Kugler, Attorneys at Law, we have the resources and information to help you know how to ensure that you literally get out of the marriage what you put into it. A prenuptial or postnuptial agreement can help ensure that your assets are protected and that you are free from the debts of your current or future spouse. For couples who have a lot of money and for those who live modestly, there are many benefits to these documents.
Prenuptial and postnuptial agreements are for the purpose of protecting what is important to you and to define the separate and marital assets of each spouse. They have two primary purposes. It protects your assets in the case of divorce and makes that procedure less complex and expensive. These documents can also ensure that any children from a previous marriage will be financially secure in the case of your untimely death. The both have separate purposes, so speak with a Valencia divorce attorney today to learn more!
What is a prenuptial agreement?
A prenuptial agreement, often called a "prenup", is a legal document that many individuals enter into before they get married. The state of California imposes many laws and regulations on those who get married, which causes a serious problem for couples who dissolve their marriage. It provides them with an opportunity to end the marriage with less of a hassle and expense than it would be without one. It allows spouses to determine how they should handle their finances, rather than allowing the state law to define their rights. It is a written contract that lists all of each individual's property and debts and specifies what their rights will be after the marriage has concluded.
This is a document used to protect the assets of those who are rich and those who live by modest means. There are specific reasons that some individuals choose to obtain a prenuptial agreement. They may want to pass their separate property to their children who are from previous marriages. This is so that they can be in control of their property when they pass away. It is also used to clarify each individual's financial rights. Whether the couple has or does not have children, they can lay out each person's financial rights and responsibilities during the course of the marriage. A prenuptial agreement helps to prevent unnecessary arguments and protects spouses from each other's debts.
What is a postnuptial agreement?
A postnuptial agreement is for those who are already married but interested in protecting their financial future and that of their children. It is similar to a premarital agreement, except that it takes place between two individuals who are married already. Those who have accumulated much over the course of the marriage often choose to protect these assets. For those who did not have many assets prior to marriage but have now obtained items they want to protect, a postnuptial agreement may be a great idea.
Before you decide to enter into a postnuptial or prenuptial agreement, there is a lot that you and your current or future spouse will have to discuss. You should be aware of one another's separate and mutual assets, as well as all debts. It is important to be open and honest about each individual's assumptions and expectations in regard to how the property should be handled. You and your spouse should discuss your current financial status including spending habits, roles, and responsibilities. These documents many benefits to one's marriage and can help those who are concerned about what will happen to their property in the course of divorce. As your Valencia divorce attorney, we can help you become informed about the benefits of a prenuptial and postnuptial agreement.
Contact a Valencia divorce lawyer today at Barnholtz & Kugler, Attorneys at Law!