When you think of prenuptial agreements, you may imagine a legal document reserved for rich people. You are not a millionaire, so you do not need to worry about getting one, right?
Not necessarily. Anyone can benefit from having a prenuptial agreement in place. When you get a prenup, you need to have an honest discussion about your finances, and what better way to start off your marriage on the right foot?
But let’s face it — prenups are not exactly romantic. In a prenuptial agreement, you are basically outlining what will happen to your finances in the event of a divorce. And who wants to discuss divorce before the marriage even begins?
Still, a prenup makes sense for most people. Here are some reasons why you should consider one.
You or Your Spouse May Have Baggage
Maybe you have been married before and have children. Perhaps your soon-to-be spouse owns a family business. Or maybe you both have significant debt. A prenuptial agreement can help make things fair for everyone involved. A prenup is especially helpful because California is a community property state. This means any assets acquired during the marriage are divided equally in a divorce. This can cause issues with businesses and other complex assets, but a prenup can make things easier.
You Want to Be in Control
Many people think of a prenup as a death sentence for their marriage, but nothing could be further from the truth. Instead, a prenuptial agreement gives you control. It allows you to decide what will happen to your assets in the event of a divorce, so it is sort of like a will, except you are protected in divorce instead of death. You get peace of mind, so you do not have to worry about your spouse taking millions of dollars should the marriage end.
You Want to Discuss Finances
A prenup can be used as a tool to gauge each other’s money habits and general finances. Does your spouse have a lot of assets? Are they struggling with debt? A prenuptial agreement helps couples discuss money matters and align their financial goals.
Still Not Convinced?
Some people are old-fashioned and not advocates for prenups. Maybe they think they will be married forever. That is OK. If you are coming into the marriage with money, you do not necessarily need a prenup to protect yourself. However, you do need to keep that money in your own account and in your own name. Do not withdraw that money and use it for bills and other marital expenses. Keep that money by itself and have an honest discussion with your future spouse about expectations, and you will be fine.
Contact Us Today
Anyone can get a prenuptial agreement. It can give couples of all financial backgrounds peace of mind.
The Law Offices of Oliver Gutierrez in Redwood City can provide legal counsel for all your divorce issues. I work hard to protect my clients’ rights and family interests. To schedule a consultation, call (650) 590-7675 or fill out the online form.
