Getting married is supposed to be a magical time. The last thing you may want to think about is what happens in the event of a divorce. However, as unlikely as it may seem to you that your marriage will eventually end up in a divorce, it can happen. And if it does, it is best that you are protected.
California law allows engaged couples to draft contracts that, upon divorce, dictate any number of things, from the allocation of marital assets to payment of spousal support. These agreements are known as prenuptial agreements. A prenup is like insurance. You hope you never need it, but feel confident that if you do you will be protected. This article looks at important information that should be included in every prenup in order for the document to be powerful and iron-clad.
Things to Include in a Prenuptial Agreement
Drafting a prenuptial agreement is not an easy task. It is best to hire an experienced Central Valley family law attorney to make sure the agreement includes all the necessary terms and it protects your legal rights as well.
Below are some important provisions that touch on important issues including property, finances and behavior:
– Community or Private Property? Declaration that certain property, whether held prior to or obtained during marriage, will be considered private or community property.
– Who gets the house? How community property will be divided upon divorce.
– Who pays the debts incurred during marriage? Debts may also be difficult to divide. Deciding in advance which spouse will be responsible for specific debts can significantly reduce the stress of a divorce.
– Alimony. Unlike child support, alimony or spousal support can be waived in a prenup. Similarly, prenups can impose certain spousal support provisions. If one spouse earns considerably more than the other, a prenup can be used to construct spousal support payments in the event of a divorce.
– What State law governs? Different states have different laws governing prenuptial agreements. Be sure to specifically state that California law governs.
– How you’ll handle disputes. Although you may agree to the terms of the prenup before you’re married, divorces can change a person and your spouse may not want to play by the ground rules you laid. To prevent such problems, you include exactly how disputes of this nature will be handled.
Limitations on California Prenuptial Agreements
California law allows engaged couples broad discretion in drafting prenuptial agreements. However, the law does impose a number of limitations. Prenups may not:
– Regulate child custody nor child support
– Include terms thought to encourage divorce
– Impose or require obligations on a spouse in the marriage
Call a Central Valley Spousal Support Attorney
For more information about prenuptial agreements or to schedule a complimentary consultation with a Central Valley prenuptial agreement attorney, please call Gurjit Srai (209) 689-2207 or (559) 449-1447, or complete our online form.