Is a Prenuptial Agreement Right for You?
Prenuptial agreements are not just for the ultra-wealthy anymore. Anyone who has worked hard to accumulate significant assets may consider drafting a premarital arrangement before the big day. Although a prenuptial agreement may seem unromantic, preparing for all possible future events is important. In today’s age of uncertainty and economic fluctuations, California prenuptial agreements are becoming more and more common.
Creating a prenuptial arrangement doesn’t mean your marriage is doomed — it simply means you are a savvy and practical individual. When thinking about a prenuptial agreement, consider these questions:
- Do you or your partner have substantial debts?
- Are you or your partner significantly wealthier than the other?
- Are there children from previous marriages?
- Do you or your partner make more than $100,000 per year?
- Does either partner own all or part of a business?
- Do you own more than $50,000 worth of assets other than real estate?
- Do you or your partner own multiple homes?
- Does one partner plan to not work in order to care for children or pursue an educational degree while the other partner works?
If you answer yes to one or more of the above questions, a premarital agreement may be appropriate. A prenuptial arrangement can help pre-determine property and asset division, alimony, debt assignment and other financial issues in the event of divorce. Let an experienced Irvine divorce lawyer help you draft and finalize a solid prenuptial agreement, which protects both you and your future spouse.
Michel & Rhyne is a full-service family law firm, offering fair and comprehensive legal representation. Let our seasoned attorneys help you create the perfect prenuptial agreement.