When you and your partner decide to tie the knot, you may be elated to begin the wedding planning process. Between picking out flowers and caterers, this is an exciting time for all couples. It is important, however, to consider all possibilities. As such, this is when you and your spouse should discuss whether or not a prenuptial agreement is right for you. If you agree, but are unsure what your prenup should cover, the following blog explores what you must know about these matters. Additionally, you’ll discover why it’s in your best interest to connect with Los Angeles prenuptial agreement attorneys who can help you navigate these complex matters and protect you.
What Is a Prenuptial Agreement?
A prenuptial agreement, also commonly referred to as a prenup, is a document a couple will create before they are legally married. This documents what will happen should the couple divorce or a spouse pass away.
Unfortunately, there is a stigma surrounding prenups that many assume if you are thinking about divorce before you are even married, your marriage is bound to fail. However, creating a prenup allows both parties to feel more secure in the future. Additionally, This allows both couples to go into the marriage with a clear understanding of each party’s finances as you must disclose all assets and debts before creating the agreement.
What Terms and Conditions Should My Prenup Cover?
To begin, one of the most important matters that should be addressed in your prenup is your separate property. Generally, this refers to any assets or debts you obtained before the marriage. This property can be considered marital property if it is comingled with assets you obtained during the marriage. As such, you should address how you will handle your separate property throughout the marriage (such as being prohibited from using marital funds to pay for these assets) and what will happen to them upon your divorce.
Additionally, you’ll find that you can set terms regarding alimony. This is especially important as it provides a sense of security for the lower-earning spouse. You may agree that the higher-earning spouse will pay a certain percentage of their income in alimony for a certain number of years following the divorce.
It’s important to understand that matters related to child custody and child support cannot be determined in a prenuptial agreement, as the courts must consider these matters. Generally, the only thing you can include related to this matter regards whichever parent receives primary physical custody of the children can stay in the marital home, for example.
As you can see, creating a prenup can be complex and many circumstances must be carefully considered. As such, it’s in your best interest to connect with an experienced attorney who can help ensure that the terms and conditions are fair to you. Though you love and trust your fiance, having an attorney review the terms to determine if they are in your best interest is critical. At the Zitser Family Law Group, our team understands how important these matters are, so we are dedicated to fighting for you. Connect with us today to learn how we can assist you.
