As you are preparing to walk down the aisle, you are probably not thinking about what could happen if your marriage ends at some point in the future. After all, who plans for divorce before getting married? In reality, there are many benefits to planning for this contingency by drafting a prenuptial agreement. Having one of these agreements does not mean you assume your marriage will fail.
A prenup can make it significantly easier for both parties in case of a divorce in the future. It allows you to outline how you will split marital property, and you can also include specific provisions regarding spousal support. You do not have to be wealthy or have exceptionally valuable assets in order to benefit from this type of protection. You can custom-tailor your agreement to suit your needs, allowing you to look to the future with confidence.
Benefits of a prenup
One of the main benefits of drafting a prenuptial agreement is that it provides you with the ability to address property division in a legally enforceable way. This means, if there is a divorce in the future, there will be no need for costly and stressful litigation over money. Your prenup can also do the following:
- Protect an inheritance
- Shield the financial interests of children from previous marriages
- Protect a spouse who may leave the workforce to care for children
- Allocate debt appropriately and fairly in case of a divorce
- Limit or ensure spousal support payments
Some avoid drafting a prenuptial agreement because they believe it will bring bad luck, while others may avoid this process because they think it’s not necessary for their financial situation. If you are planning to marry, it is in your interests to learn about the specific benefits this type of agreement could provide you and your soon-to-be spouse.
Confidence for the future
You cannot predict the future, but you can make plans that will allow you to feel confident in your long-term interests. Drafting a prenuptial agreement is a practical way you can avoid complications and stress if things do not go according to your plan.
If you do not think you will need one of these agreements or you are unsure of how it could benefit you, you may want to speak with an experienced California family law attorney about how it is prudent for your specific financial circumstances.