At the Law Office of Lily L. Huang in California, we know how difficult it is for you when your marriage breaks up. You and your spouse may have widely differing opinions regarding child custody and support issues, spousal support issues, and property settlement issues. Often our clients say they wish they had signed a prenuptial agreement before their marriage because it likely would have made their property division considerably easier and less contentious than it is today.
If you are planning marriage in the near future, you may wish to discuss the advantages of a prenuptial agreement with your fiancé. As FindLaw explains, signing a prenuptial agreement does not mean that you and your intended do not trust each other or that you fear your marriage will end in divorce. Rather, it signifies that both of you are mature adults who wish to have a clear understanding of what belongs to each of you in the event the unthinkable happens in the distant future.
Things to include in your prenup
Since California is a community property state, if you decide that a prenup is in your respective best interests, there are many financial things you may wish to include, such as the following:
- The type(s) of separate property each of you brings to the marriage
- Whether you will maintain joint or separate bank accounts after your marriage
- How you will handle credit cards and the debts they impose
- How you will handle your respective retirement accounts, 401(k)s, investments, etc.
- How you will handle a family business if you establish one
- If applicable, how you will provide for your respective children from previous relationships
Things not to include in your prenup
The purpose of a prenuptial agreement is to decide financial issues. It cannot be used for purposes of deciding personal issues such as the following:
- It cannot set out how the two of you will make child-rearing decisions.
- It cannot set out which of you will perform which household chores.
- It cannot set out which of you will make social decisions such as where you will spend holidays or where you will go on family vacations.
For more information on this subject, please visit this page of our website.