Parents in California and all around the nation often have concerns about how their children will fare financially. Some parents may go so far as to offer advice, even if it may be unsolicited. A personal finance columnist recently received a question from a reader regarding a pre-nuptial agreement for his daughter to avoid conflict should a divorce occur in the future.
The father shared that his daughter had earned a significant level of assets. Both the daughter and her boyfriend had advanced degrees, yet the man had student loans. The father wanted to know how the daughter could safeguard her investments if the relationship didn’t last.
The columnist noted that, in community property states, such as California, the daughter would keep whatever assets she brought into the marriage. On the other hand, equitable distribution states would divide the assets. The financial adviser suggested that, while creating a pre-nuptial agreement would be a wise exercise to ensure that both parties’ assets are protected, the decision to have one should belong to the couple.
Respondents to the column recognized that the boyfriend’s debt was a result of student loans. They noted that the man was trying to better himself by getting additional education and that this would benefit him in the long-run. The consensus was that the father should do no more than suggest a pre-nup and allow the couple to decide how they should proceed in their relationship.
It is natural for parents to want to continue having an influence in their children’s lives. However, rather than doling out unwanted wisdom, it would be more beneficial to suggest that someone contact a California divorce lawyer for advice. A knowledgeable attorney can work with clients to ensure that their needs are addressed and that plans are developed for their specific situations.
Source: , “My daughter earned millions at Google, but her boyfriend has student debt – should she get a prenup?“, Quentin Fottrell, Oct. 25, 2017
