Prenuptial agreements are designed to protect the pre-existing assets of each party entering a marriage. As the future is always unknown, prenup agreements are one of the most-effective, and most under-utilized tools for individuals to protect their assets now, and into the future.
As with most things of a legal nature, the cost or overall expense of drafting and signing a prenuptial agreement can vary. Some of the factors that influence cost of prenups range from: individual assets held when entering the agreement, stock holdings or RSUs, retirement accounts, earning potential, and myriad other issues. The best option is to seek the consult of a prenuptial agreement lawyer who offers a free consultation to understand what you will be facing, and how a prenup may benefit you in the future.
It is highly advised you speak with a family law attorney who has a significant financial background to determine if you would benefit from a prenup. Such a lawyer can also advise you what steps need to be taken, what issues commonly arise (California prenuptial agreement laws follow specific and sometimes rigorous standards), and how it may help you should the marriage end in an unplanned fashion.
If you speak with any friends or family members who have gone through a divorce without a prenup, it is almost always the case that they feel cheated out of the court’s decision. Consider a prenup to ensure that in the case of a divorce, you will have protection and security.
This is entirely up to you. As previously stated, prenuptial agreements can be extremely effective tools if a divorce comes about. There are certain requirements that must be abided to ensure the prenup is valid – this is why it’s always wise to consult with a prenup attorney.
In many cases (if not most) a prenup agreement serves its purpose and diminishes the turmoil and emotional frustration that are commonplace in divorce scenarios.
One would be wise to obtain a consultation from a family law attorney with significant experience in drafting, creating, and enforcing prenuptial agreements in California.
Many people wonder what a prenup (or prenuptial agreement) is, whether it’s right for them, whether they need one, or wonder What does a prenup actually do?
The simple answer is: Entering into a marriage is a life-changing decision, and as you choose to move forward together, dedicating the rest of your lives to each other, a prenuptial agreement can give you peace of mind that your assets are protected.
At Kaspar & Lugay, LLP, we guide our clients through the prenuptial process to help them protect their interests, assets and have meaningful discussions about their expectations for the relationship.
We also represent clients in divorces in which prenuptial agreements are at issue. Our team of experienced attorneys has in-depth knowledge of how prenuptial agreements work in California. We leverage this knowledge to protect your interests throughout the divorce process.
This is something to consider carefully with your attorney. A conversation with a potential spouse about a prenuptial agreement in which you demand much more than is reasonable or understandable can cause a significant amount of emotional conflict and strife.
Further, there are limitations on what a prenup can include. The Uniform Prenuptial Agreement Act (UPAA) has applied to California prenuptial agreements. The Act pertains to prenuptial agreements (also called “premarital agreements” or “prenups”) for couples marrying in our state.
Under the Act, couples can stipulate financial matters and protect property. However, they cannot stipulate child custody or child support matters. For example, you couldn’t use your prenup to agree that you would never have to pay child support or that courts couldn’t have a say on child custody and visitation in the event of a divorce.
Thankfully, there is a tool known as a postnup, or post-marital agreement that may, with the consent of both parties, become effective in your marriage.
A post-marital, or postnuptial, agreement is a contract that outlines how a married couple’s property and assets must be divided in the event that the marriage comes to an end, which can be through legal separation, divorce (dissolution of marriage), or death. Because a well-crafted postnuptial agreement delivers the same benefits as a prenuptial agreement, it is increasingly common, and wise, for married couples to consider and create these agreements, as they help set and define clear expectations and mitigate or eliminate any misunderstandings.