DECIDING IF YOU NEED A PRENUPTIAL AGREEMENT IN CALIFORNIA
Figuring out if you need a prenuptial agreement is never easy. You’ve likely heard horror stories from some family members and friends who have gone through a divorce without one. These stories could scare you into getting a prenup without considering whether or not you really need one. Let’s look at some factors that can help you decide if you need this legal document for your marriage in California.
If you are entering this marriage with children from a previous relationship, or your future spouse is, it might be a good idea to get a prenup. It can outline how custody will be handled should you die prior to the children becoming adults. It can also help detail how you want your property to be divided among your children from a previous relationship should you get divorced.
Are you the co-owner of a business or real estate property with another family member? If so, it’s best to have a prenuptial agreement in place. This will not only protect your interest in the ownership but also the interest of the other owners should you get divorced.
Does your future spouse have a lot of debt? This can be credit card debt, a mortgage, student loans or small business loan debt. Whatever it is, you don’t want to be responsible for it if you get divorced. A prenup can help protect you from being saddled with this debt.
Each situation is different when it comes to determining if a prenuptial agreement is the right thing for you. Take a look at your situation and what each of you brings into the marriage before making a decision.
Source: WTKR, “Are prenuptial agreements just for the rich? Tips on how to decide you should have one,” May 24, 2018