When you and your soon-to-be spouse are planning a wedding, there are many considerations you’ll need to make from florals to catering. However, among the dress shopping and invitation mailing, there may be something you have not considered – a prenuptial agreement. Though it may not seem romantic to discuss divorce before you’ve even tied the knot, you and your partner should determine if this is right for your needs. If so, understanding whether or not elements like alimony can be in a prenuptial agreement is critical. The following blog explores what you should know about these matters and why it’s in your best interest to connect with Los Angeles prenuptial agreement attorneys.
What Is a Prenuptial Agreement?
A prenuptial agreement is a legally binding document a couple will create and sign before the marriage. Essentially, this allows the couple to determine how they will divide their assets in the event they divorce. Not only does this allow you to discuss your finances before the marriage to ensure you are both on the same page, but if you do get a divorce, this will help speed the process up, as the terms of your separation have been determined.
While all couples can benefit from creating a prenuptial agreement, these are especially beneficial for couples where one or both parties are high-net-worth individuals. This is because California follows community property laws, meaning each couple is entitled to a 50/50 split of the marital assets during the divorce. Creating a prenuptial agreement allows the high-net-worth spouse or spouses to protect themselves and their assets in the event of a divorce.
Is It Possible to Discuss Alimony in a Prenuptial Agreement?
If you and your spouse have decided that a prenuptial agreement is in your best interest, you may want to determine if alimony is something you’ll need to establish. There are many ways in which you can include these terms in the prenup.
It is first essential to understand that it is a common misconception that the lower-earning spouse will automatically receive alimony. During a divorce, the party must request these payments if they wish, and their spouse will either agree or disagree with the terms. If they disagree, the courts will determine if alimony is necessary.
If you and your spouse wish to discuss alimony, one option is to provide a minimum payment amount the lower-earning spouse would receive from their partner in the event of a divorce. There could be stipulations that, depending on their salary at the time of the divorce, the payments could rise in accordance with their increased income. Additionally, you may decide that alimony will only be awarded should you and your spouse are married for a certain period, such as five or seven years.
As you can see, there are many considerations you’ll need to make when determining what to include in your prenuptial agreement. That’s why it’s in your best interest to connect with an experienced attorney as soon as possible. Though you love and trust your future spouse, ensuring the terms reflect your best interest and fairly and accurately represent you is critical. At the Zitser Family Law Group, APC, our team will do everything possible to assist you during these matters. Connect with us today to learn more.
