Photo of Professionals at McCoy Fatula, APC
Photo of Professionals at McCoy Fatula, APC

How can prenups help in the divorce process?

On Behalf of | Sep 20, 2018 | Divorce

When most couples in California or anywhere around the nation plan a wedding, they are not likely thinking that their marriages will ever end. However, increasing numbers of couples are considering the need for prenuptial agreements in the event of a future divorce. While a prenup may not be in the forefront of the minds of a typical couple, one might think a couple with millions of dollars between them would consider a marital agreement to be necessary before tying the knot. Yet, rumors about a recent celebrity union include the fact that a prenup was not included in their wedding plans.

It has been reported that entertainer Justin Bieber and model Hailey Baldwin were married recently. There are indications that the couple did not sign a prenuptial agreement. This could create potential problems down the road for Bieber, as his estate is worth around $265 million, compared to Baldwin’s $2 million in assets. Regardless of the amount of assets a couple has, experts recommend considering a prenup to minimize issues.

Basically, a prenup will establish how assets would be divided in the event of a divorce. Each party must completely report all assets and be represented individually by a lawyer. The issue of fairness is considered and may be viewed differently for every couple.

It is also wise to broach the subject of a prenup well before the wedding date since the issues can be addressed more calmly and the document will be viewed more favorably in court. For most agreements, any assets gained prior to the marriage are not included in prenups. Those remain an individual’s personal assets. Some agreements include provisions for alimony; however, any attempt to limit child support is off limits. Death of one spouse may also be addressed, so the prenups are not limited to divorce.

Regardless of assets, it may be beneficial to consider putting a prenuptial agreement in place prior to getting married. If a couple is already married, a postnuptial agreement can address the same issues about property division or alimony. A California divorce attorney can offer guidance to clients for any type of marital agreement.

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