What are the Benefits of a Pre-Marital or Pre-Nuptial Agreement?
Prenups can be useful even if there never is a divorce. One reason is because they can address non-financial issues such as the religious upbringing of children. Bear in mind, however, that insignificant non-financial details in a pre-marital agreement will not be enforced in court; so, only important issues should be addressed. Likewise, “prenups” can secure assets upon death for children from a previous marriage.
A pre-marital or pre-nuptial agreement is important because 50% of marriages in California end in divorce. If 50% of houses burned down, you would get be wise to get fire insurance even if you felt confident about your own house. Marriage is no different. Divorce is an unfortunate reality, and you would be wise to hope for the best but prepare for the worst. California is a community property state, so without a pre-nuptial or pre-marital agreement, your assets from before the marriage have the potential of becoming community property which in the event of a divorce will be equitably divided between spouses. Particularly if you have assets which are hard to value, such as a business which was founded before the marriage, primps can help reduce uncertainty as to what value of the business is assigned to whom as separate property and what value is community property. Contact a Sagaria Law attorney today to schedule your initial consultation to learn more.