You’ve hit the relationship trifecta: the right person, the right time and you are planning to share your life together. But, like most people, you have accumulated ‘stuff’ like property, retirement plans, and savings. And you both may have incurred debts and mortgages.
Do you need a prenup? Of course you do. But it can be a very difficult discussion to raise – or to get to the finish line.
Here is why you should have a prenup. Whether or not it is for a marriage or a domestic partnership. At some time in the future, you will encounter life-changing events. A divorce or break-up, health issues, or ultimately, the passing of one of you.
Here are the signs you need a Prenup. If you answer yes to any one of these you should consult a family law attorney. (If you are already married, you can do the same thing with a ‘Postnup’, which is an agreement AFTER you are married.)
- Have you been married before?
- Do you have expectations of inheritance from your family?
- Do you have children from another partner?
- Do you have separate pension plans (IRA, 401(k), etc.)?
- Do you have separate property?
- Do you have separate debts?
- Do you have health problems?
- Do you have wildly different income?
The idea of a Prenup is a sensitive subject, but these agreements can be very helpful in building a future. With a properly constructed Prenup, you can help reduce the emotional stress you experience and potentially save thousands or millions of dollars.
The Prenup sets out how assets or property and income brought into a marriage or domestic partnership, as well as how assets and income obtained during the marriage or domestic partnership will be considered. The Prenup can set forth that specific property and income is to continue as the separate property of one party and can also adjust or avoid the application of community property laws in a dissolution. Debt, division of real property and the payment of spousal support upon dissolution are also addressed in the agreement.
The prenuptial agreement, after full and precise disclosure of your debts and assets, can afford you the knowledge that if a life-changing event happens to you, the future treatment of your assets and debts has been thoroughly considered within the agreement. This will save you or your heirs from expensive litigation. Hassett Family Law can prepare your agreement thoroughly, verifying both parties’ debts and assets then draft arrangements that best safeguard your rights and interests.
We offer a complimentary consultation. Please call (858) 282-0442 to schedule your appointment.