The idea of creating a prenuptial agreement may cause an uneasy feeling for some California residents. However, rather than thinking of such an agreement as an anchor destined to drag a marriage down to divorce, individuals may wish to consider it a safety net. These days, having a prenup may be more beneficial than ever as parties are marrying later in life, marrying multiple times and bringing their own assets to the relationship.
Having premarital assets is a significant reason that both men and women may wish to consider creating a prenuptial agreement. In the past, some individuals may have considered such a document necessary only for wealthy men to protect their assets from women only interested in their money. However, more often, women are amassing their own wealth, and it makes sense for both parties to be interested in protecting premarital assets for themselves and their children.
Gifts can sometimes be a contention subject when it comes to property division in divorce. One party may have bought the gift but gave it to the other party. As a result, ownership may become a bit murky. However, adding specific details in a prenup could help clear up such uncertainties before they arise.
Understanding that a prenup does not destine a marriage for divorce may be the first step in utilizing this type of agreement. Additional information on prenuptial agreements could help individuals better determine what they may wish to include in their documents. Consulting with experienced California attorneys could allow interested parties to gain further knowledge on this asset protection avenue.
Source: jaxdailyrecord.com, "Prenups are for women, too", Heather Quick, Feb. 20, 2017