Pre-Marital Agreements
What Is A Premarital Agreement?
You might have heard the term premarital agreement in many places, but what really is it? In simple words, it is a contract signed between the two parties before getting married to state the regime of ownership of each person’s assets in case of a divorce as well as their management during the union.
What To Consider Before Getting Married
After getting engaged, it is normal to get super excited and start planning the wedding right away, but as a family attorney specializing in premarital agreements, I highly recommend you talk about your assets and the possibility of consulting a lawyer for family legal services.
Drafting a premarital agreement while planning the wedding does not have the best reputation, which is why it is best to dive deep into what you’ll do with your money, properties, and decisions during your marriage and what could possibly happen in case of a divorce before doing anything else.
Key Things About Premarital Agreements Not Many People Know About
When it comes to premarital agreements, you should always consult a family attorney before signing anything or even begin drafting your agreement.
You might have heard about Barry Bonds’ case where he consulted an attorney but his wife-to-be didn’t and signed anyway. When the couple split six years and two kids later, the wife was left with absolutely nothing.
What’s more, there’s a seven-day period you have to respect before signing the prenup. The parties have to wait seven days before they’re allowed to sign the agreement, this way both have time to carefully read and consider the magnitude of the contract before sealing the deal.
Premarital agreements are not a road to divorce or anything like that, but rather a tool couples can use to ensure their assets are protected during their union and after if something happens. These agreements can give couples peace of mind as well as avoid fights about what each one has. Plus, it is an act of education and respect for what both parties have.
- Unlike what many people might think, there’s nothing wrong with talking about a premarital agreement with your partner, and it doesn’t mean you’re planning to get divorced. Instead, it is all about educating yourselves about what community property implies, what the law already protects, and what you can safely keep despite your love story.
If you are looking for more information with regard to pre-marital agreements,
and currently reside in Madera or Fresno Counties