How A Prenuptial Or Postnuptial Agreement Can Protect Your Financial Interests
At any stage in life, it is wise to take steps to protect your financial interests. This is especially true in cases where an individual has a significant amount of assets, is the beneficiary of a sizable inheritance or owns a stake in a business that is poised for success.
For individuals who plan to marry or are married, a prenuptial or postnuptial agreement provides unique and important protections both during a marriage and in the event of a subsequent divorce.
Why Establish A Prenuptial Or Postnuptial Agreement?
California is a community property state. This means that, barring a legally binding document such as a prenuptial or postnuptial agreement, all assets and debts accrued during the course of a marriage are subject to being divided equally between spouses.
At Thompson & Thompson, our attorneys have decades of experience helping clients protect their finances, businesses, livelihoods and other interests using prenuptial and postnuptial agreements. Financial and personal assets and matters that may be accounted for in such an agreement include:
- Family residence and other real estate
- Motor vehicles
- Artwork, collectibles and family heirlooms
- Spousal support waivers and allocations
- Who pays certain debts
- Financial responsibilities of each spouse during a marriage
Prenuptial And Postnuptial Agreements — Why You Need An Attorney
When it comes to drafting and ratifying a prenuptial or postnuptial agreement, every state has specific legal requirements and restrictions. Not every family law or divorce attorney has a firm understanding of this area of law and even seemingly minor mistakes made while an agreement is being drafted, negotiated or reviewed can end up having serious financial and personal consequences.