Premarital agreements, also referred to as Prenuptial Agreements are agreements entered into between couples in anticipation of marriage. These agreements allow the parties to create a roadmap for resolving their differences. Premarital agreements generally address issues such as property division and characterization, spousal support, and the division of property should the marriage come to an end. While the general legal purpose of a premarital agreement is to make arrangements for the end of a marriage, these financial discussions can often lead to strengthening a relationship. Why? Because many marriages run into trouble over disagreements about money. Discussing a premarital agreement fosters discussions about finances that couples might have otherwise skipped until their first big disagreement over spending.
In addition to fostering discussions about finances, premarital agreements are more important today than ever because people often remarry or marry later in life. This means that rather than both spouses just getting started in life with few assets to their name, it is increasingly likely that one or both will have children from a prior relationship, assets to manage and protect as well as debts or foreclosures to consider. Many may have previously experienced a contentious divorce in the past or may wish to have a clear understanding of how they will resolve their differences should the relationship fail. It is important to understand your rights and obligations in entering into a marriage as it can result in outcomes that you never intended.
Premarital agreements are so important because they protect or waive important legal rights in the event of a divorce or other premature end to a marriage. It is vital that both parties fully understand the agreement and have it achieve the legal effect that they desire.
For assistance with a prenuptial agreement in Contra Costa County, Dublin, or surrounding Bay Area counties, contact Seo Family Law today.