Some people look upon premarital agreements as an expectation of failure, but this couldn’t be further from the truth. Premarital agreements are simple a way to protect the best interests of both spouses just in case things don’t work out as they had planned (that’s life, after all). Many couples prefer to take control of their own contingency arrangements without having to leave them in the hands of the government.
If you are getting married, you may want to consider creating and signing a premarital agreement in the following cases:
- You are significantly wealthier than your partner. Is your partner marrying you for you, or for your money? Signing a premarital agreement is a good way to find out.
- You earn significantly more income than your partner. In the event of a divorce, your spouse could receive up to half of the marital income. Signing a premarital agreement could help you keep more of what you have worked for.
- Your partner has a lot of debt. Signing a premarital agreement can protect you from being responsible for your partner’s debt in the event of a divorce.
- You are a business owner. If you own a business, your spouse could receive up to half of its value in a divorce. A premarital agreement can ensure that your spouse doesn’t end up becoming an unwanted business partner.
- You wish to protect your estate plan. A well-drafted premarital agreement can help you maintain control of your estate plan and keep certain assets within your family (rather than losing a treasured heirloom, for example, to your spouse during property division).
If you have significant assets or children to protect financially, a premarital agreement is a smart choice before entering into a marriage. Ready to speak with an attorney? Moore, Schulman & Moore, APC has more than 200 years of combined family law experience, which is why we are known as San Diego’s Family Law Experts®. We stand ready to help you draft a clearly defined and well-crafted plan that provides an understanding between parties, ensures fairness, and is compliant with the California Uniform Premarital Agreement Act.
Contact our office to get started: (858) 492-7968.