A prenuptial agreement (also called a premarital agreement or prenup) is a contract between two people before entering a marriage, that defines how assets will be owned during the marriage or partnership and distributed in the event of divorce or death. They make sense for many couples, regardless of their level of wealth.
You should consider a prenuptial agreement if you or your fiancé:
- Own a home, stock or business (all or part)
- Plan to receive an inheritance or expect a large salary increase
- Have children from another marriage
- Support your parents or other family members
- Support or plan to support your spouse through college
- Are much wealthier than the other
What a Prenup Can Do:
- Keep finances separate
- Protection from other party’s debts
- Provide for children from prior marriages
- Keep property in the family
- Define who gets what if you divorce
- Provide clarity on other financial responsibilities during the marriage
What a Prenup Can’t Do:
- Restrict child support, custody, or visitation rights
- Encourage divorce
- Make rules about nonfinancial matters, like household chores, how to divide childcare responsibilities and pet ownership
It’s important to use a lawyer when preparing a prenuptial agreement, and in fact, both parties should seek independent legal advice to craft a fair and lasting agreement.
Get the help you need and protect your legal rights. Call (415) 242-2400 or email info@cullumlaw.com to schedule your complimentary initial consultation, and review my consultation check list before your appointment.
