San Diego Premarital Agreement Series Wrap-Up
This is the final post in my series discussing how to know if a premarital agreement is the right decision for your marriage. Throughout this series I have discussed several individual scenarios that are common catalysts for one spouse to seek a premarital agreement. The topics we have discussed include:
- How a prenuptial agreement can protect a couple when one spouse owes back taxes to the IRS
- How a prenuptial agreement can protect a couple’s financial future when one spouse has considerable debt or may have to file for bankruptcy
- What a business owner needs to know about mingling separate assets with community property
- How to broach the subject of a premarital agreement with your partner
- What to do if your partner asks you for a premarital agreement
The subject of a premarital agreement often makes couples’ uncomfortable; one spouse will inevitably take a premarital agreement request as a sign that the other spouse believes that the marriage will fail. However, taking a prenuptial contract personally ignores the reality that with marriage comes tax and financial implications. For older couples who have already established credit, acquired assets, or gone into debt, it is more complicated to completely merge finances with another person. As we have discussed, in many cases, a premarital contract not only protects both spouses’ in the event of divorce, but there are many occasions where having certain assets separate can protect the couples’ financial future. Considering both partners finances before marriage, and planning accordingly, can save the couple a great deal of money down the road.
If you are getting married in California, and are not sure whether or not you need a premarital agreement, contact a family law attorney today. Our attorneys will answer your questions and assess your situation. Contact our San Diego office to set up an initial consultation.