Why you should consider a prenuptial agreement
Most of us have heard of prenuptial agreements. Sometimes we consider them in a negative light. After all, who wants to consider the demise of a marriage before it even begins? However, more people are considering entering into these agreements as a way to protect not only themselves, but also their children and other family members. The truth is, life is unpredictable, and a prenuptial agreement can provide protection against unpleasant surprises. It might even benefit your marriage to discuss finances and to ensure you are protected before entering the marriage. Many couples do not realize the stress that differing financial situations and attitudes towards money can place on their relationship. By working these things out in advance, a couple can avoid some nasty realizations and arguments down the road.
The Value of a Prenuptial Agreement
There are many ways that prenuptial agreements can help to provide you protection. Your agreement should be tailored to your needs, but here are some reasons to consider entering an agreement:
- You have inherited property or assets that you want to keep in the family. If you enter into a marriage, you will be sharing assets with your spouse. If you have family assets, you might want them to stay in your family if you get divorced. For instance, if you have family heirlooms or property that is significant to your family and that you want to ensure stays in the family, you may want to sign something that will prevent your spouse from walking away with those things in the event of divorce. This is a way to protect not just you, but your family as well.
- Different financial situations. One of the most common reasons people think of to sign a prenuptial agreement is to protect their finances. In some cases, a person might be trying to ensure they are not entering into a marriage with someone who wants to marry them predominantly because of their money. A prenuptial agreement can also provide protection for the spouse with fewer assets though, by ensuring they will not be left with nothing in the event of a divorce. Sometimes one party also has significant debts, and a prenuptial agreement can avoid the other party taking responsibility for those debts.
- Stay at home parents. When a parent quits their job to raise the children, they are not just losing out on income during those years that they are home. When the stay at home parent returns to the workforce, he or she will be making less than they would have if they had spent those years working. Since having a parent home raising the children is something that benefits both parents, the parent who sacrifices their career in order to provide this care should be protected in the event of a divorce. A prenuptial agreement can make sure that in the event of a divorce, the stay-at-home parent is not carrying the entire burden of what was a family decision.
- You are entering a second marriage. If you are remarrying, especially if you already have children from a previous relationship, a prenuptial agreement can protect your children in the event of a divorce, and also in the event that something happens to you.
- Ownership of a company. If you own part of a business, you may wish to ensure that your spouse does not end up with a large share of the business assets in the event of a divorce. This can prove extremely complicated and can harm your business.
Contact Prenuptial Agreement Lawyers in Redlands
Depending on your individual situation, there might be additional reasons to consider entering a prenuptial agreement. If you are worried about the impact such an agreement will have on your relationship, try to think about it as a way to diffuse future arguments about finances, and to put some of your anxieties to rest.
If you are in the San Bernardino, Riverside, or Inland Empire area of Southern California and have questions about California prenuptial agreements, contact the family attorneys at Milligan, Beswick, Levine & Knox LLP at 909-798-3300 for a free consultation.
Stephen Levine, is a Board Certified Specialist in Criminal Defense — an honor achieved by only the top criminal law attorneys in California. Mr. Levine has over 40 years of experience in criminal defense and family law serving Southern California, and is a highly regarded Super Lawyer as well as AV Rated attorney.