WHAT DO I HAVE TO DISCLOSE WHEN CREATING A PRENUP?
Are you planning a wedding in Orange, California? If so, you’ve likely got a lot on your mind. It’s important that you sit down with your future spouse and talk openly and honestly about the expectations for marriage. You should also discuss the signing of a prenuptial agreement. You don’t want to find yourself in a difficult situation should the marriage end in divorce. So, what needs to be disclosed when creating a prenuptial agreement?
When it comes to creating a prenuptial agreement, you are required to disclose every single asset you have to your name. This includes all checking and savings accounts, retirement accounts, brokerage accounts, value of any business you own, real estate and other property.
Should you fail to disclose even just one of your assets, you could wind up in serious trouble. It’s not uncommon for people to try to hide assets from their future spouses when creating a prenuptial agreement. This is done to make it seem like there isn’t much to a person’s name.
When assets are not properly disclosed, the prenuptial agreement will typically be deemed invalid. This means that it cannot be enforced should you wind up getting a divorce. It’s in your best interest to disclose every penny you have to your name when creating a prenuptial agreement, so you can avoid the document being invalidated down the road.
The prenuptial agreement can save you a lot of angst and stress if your marriage ends in divorce. Make sure you disclose all of your assets when creating this legal document so that there are no surprises when the divorce papers are filed.