Santa Barbara Prenuptial Agreement Lawyer
What Is a Prenup Agreement?
A prenuptial agreement, commonly referred to as a prenup, is a legal agreement between two people before their marriage. The most common function of a prenup is to determine what will happen to the spouses’ finances if a divorce occurs, although certain other issues and arrangements can be settled as well. A prenuptial agreement can seem like an unromantic prospect with your wedding around the corner, but it could offer you – and your spouse – peace of mind about what happens if life changes and a divorce becomes unavoidable.
No one really plans on death or divorce, after all, but in only one of those circumstances is the outcome ever certain. Just as a will is a plan for what to do after someone’s death, a prenup can be a plan for legal arrangements and boundaries should spouses seek a divorce.
If you want to know how a prenup can benefit you, call Morales Law at (805) 422-7966 for more information.
What Can a Prenuptial Agreement Protect?
A prenuptial agreement is often foremost concerned with what occurs to finances in the event of divorce, but provisions can be added to protect your interest in property and other aspects of life. Generally speaking, this boils down to drawing clear outlines for separate property and community property that might be recognized in divorce proceedings anyway, but a prenup offers a chance to clearly make such distinctions before a dispute arises.
A prenup can do the following and more:
- Outline spouses’ major responsibilities in marriage (managing household bills, joint bank accounts, credit card spending and payment, savings contributions, etc.)
- State directions for property division in the event of divorce
- Maintain your control over your estate plan
- Protect family property such as heirlooms, family businesses, future inheritance, etc.
- Ensure children existing before your marriage inherit some of your property
- Guard you against liability for your spouse’s personal debts