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A prenuptial agreement needs consideration of several factors

Modern California couples that plan to share their futures often include two people who each have a career and come into the relationships with their own assets. Before the marriage, there are financial issues to address, and an important matter that should be agreed upon in advance is whether their income and assets will be merged or kept separate. Every couple is unique, and combining assets may not be suitable for all. To avoid future disputes while still protecting the interests of both parties, couples may want to discuss the option of a prenuptial agreement.

According to research, almost half of marriages in the United States end in divorce, and although couples may not consider divorce prior to getting married, it is not a statistic to be ignored. When considering a prenuptial agreement, there are certain aspects to consider. Unless a couple decides to move into a more expensive house, moving in together will almost certainly reduce costs. However, a decision on who will be responsible for paying household bills has to be taken. Even when couples decide against merging their incomes, they may want to decide on the amount of money each spouse should contribute toward living expenses.

Financial conflicts are known to have detrimental effects on relationships, and proactively discussing how each spouse's income will be handled may save a marriage. One party may earn considerably more than the other, and one spouse may have unpaid debts. By communicating and compromising, couples can cover all potential pitfalls in a prenuptial agreement. Couples who discuss their goals may become even closer if they work on a savings plan together. Whether they choose to concentrate on saving for emergencies and retirement only, or agree on a mutual goal, it may be wise not to leave such discussions until after the marriage.

California couples may be unsure about the legalities of drawing up a prenuptial agreement; however, they may find comfort in knowing that there are professionals available to guide them through the process. Once such an agreement is in place, couples are bound to understand each other’s wishes and concerns about protecting their assets. Having a prenuptial agreement that will hold up in court in the event of later disputes may provide each spouse with the peace of mind required to enjoy a happy life together.

Source: wallstcheatsheet.com, "5 Tips for How to Combine Your Finances When You Get Married", Sienna Beard, June 24, 2014

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Victoria S. Linder Law Office
5303 Folsom Boulevard
Sacramento, CA 95819

Phone: 916-905-4805
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