Many people understandably become attached to their possessions. This attachment may form due to sentimental value or due to the symbol of success that the assets represent to a person. No matter what the reason, California residents will likely want to protect those assets, especially in the event of divorce and property division proceedings.
Luckily, individuals can take steps to protect their assets before they get married. Prenuptial agreements can offer a variety of benefits, and individuals in the millennial generation have apparently been taking advantage of this option. Because millennials tend to get married at an older age than those in generations before them, they often accumulate more assets and have greater career and business success before tying the knot that they would like to protect.
These documents can also help protect each spouse in the event that the marrying parties have different spending habits. Individuals who like to save money could stipulate terms that would help protect their savings from their spouse's more risky business ventures. Additionally, prenups can also help protect future earnings in the event that one party sees further business growth than what was present at the time of the marriage.
Property division can often be one of the more contentious aspects of the divorce process. However, individuals who choose to take the proactive approach may avoid unnecessary upset by having created division terms well ahead of time. Prenuptial agreements do not always go into use as many California couples remain married, but they can serve as a beneficial safety net for the possibility of a divorce taking place.
Source: sentinelandenterprise.com, "Why today's couples seriously consider a prenup", Jonnelle Marte, Aug. 20, 2017