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Specializing In Family Law Litigation And Mediation

Prenups: not just for the wealthy

Prenuptial agreements have grown in popularity over the years, but some individuals still have misconceptions. In the past, some people thought that a prenuptial agreement was only necessary for the wealthy, and some still subscribe to that mindset.

However, that is not the case. There are a few different types of individuals who may benefit from this type of marital agreement.

Parents

Protecting one's children is a great reason for a prenuptial agreement. Particularly in the case of a parent who is remarrying, a prenup can help to safeguard any assets that the parent wants to designate specifically for the child. For example, if a parent creates a college savings account for a child, it is possible to include a stipulation in the prenup that separates the college fund from the couple's shared property.

Professionals

California is a community property state, meaning that any assets a couple garners after their marriage become shared, outside of a few exceptions, such as an inheritance. For those professionals who foresee great success in their future, or who just desire to protect their income, a prenuptial agreement can help to limit or possibly eliminate the inclusion of their income in the division of property in the case of a divorce.

Individuals with other concerns

No two marriages are exactly the same. Therefore, someone may have a specific concern about marriage. Considering that a prenup is a form of agreement, people may add their own particular stipulations to the agreement. For example, some add clauses in their prenuptial agreements that denote the reparations for a spouse who cheats. In designating these particulars, it is important that someone makes sure that the agreement follows the precepts set forth in California family code 1610-1617.

These are just a few of the main types of individuals who may find a prenup to be useful. Those who are planning to get married may want to take some time to review the law and possibly consult with a knowledgeable attorney to determine the best course of action.

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