No couple enters into a marriage planning on the relationship ending in divorce. However, many couples find peace of mind in addressing questions of marital property rights before the wedding occurs. This is possible through a legal document known as a prenuptial agreement.
There are a variety of circumstances where these documents make sense. An experienced attorney could advise you on how a prenup could protect your children from a prior marriage or address a substantial inheritance.
With a premarital contract in place, couples can move forward with their marriage from a position of financial certainty and mutual understanding. In cases where the relationship breaks up, these agreements can address issues like spousal support upfront. A Thousand Oaks prenuptial agreements lawyer could advise you on how these documents could act in your best interests.
There are many ways a prenuptial agreement could work out in favor of both spouses. Drafting a premarital agreement puts potential financial conflicts up for discussion before the wedding. This can provide stability and allow both potential spouses to move into the marriage with confidence.
These agreements can also protect one spouse’s business that existed prior to the marriage. Some businesses cannot survive any form of a split, meaning a divorce could risk the future of the company. These agreements could spell out ownership of the business if the marriage breaks up.
Many prenups also address questions of spousal support. This is a valuable question to address in cases where there is a large wealth disparity between the couple. These agreements can head off costly litigation over spousal support in case of divorce.
Lastly, if a person enters into a marriage knowing they are set to inherit substantial assets, they might desire to ensure those assets stay in their family in case of divorce. A prenuptial contract can clarify that these assets may not be split in the event of divorce. A lawyer in Thousand Oaks could explain all of the benefits a prenuptial agreement may have for a particular couple.
There are strict requirements that a prenuptial agreement must meet to be legally enforceable in court. Most importantly, these contracts must be in writing, and both parties to the marriage must sign the document. Before the agreement is signed, both parties must fully disclose all of their assets and property. Full disclosure is necessary to ensure that both parties are treated fairly in the contract. If one spouse hides or otherwise fails to disclose assets, it could invalidate the agreement.
The law also requires that the parties enter into the agreement voluntarily. Any effort to coerce another party or rely on fraud to execute the document could result in a prenup being void. Both parties must have access to independent legal counsel when considering the prenuptial agreement. An experienced Thousand Oaks attorney could help a couple meet all of the legal requirements necessary for a valid prenup are met.
Initiating a discussion about preparing a prenup prior to a marriage can be difficult. However, laying out the financial realities of a relationship can have its benefits. With everyone entering the marriage on the same page, both spouses are likely to benefit.
If you have questions about your rights regarding a premarital contract, it is important that you speak with legal counsel right away. Contact a Thousand Oaks prenuptial agreements lawyer today to learn more.