CALIFORNIA FAMILY LAW PRE-NUPTIAL
FAMILY PRACTICE SACRAMENTO - FAMILY ATTORNEY CALIFORNIA
California Family Law - Pre-Nuptial Agreement
Pre-Nuptial Agreement is a contract between a man and a woman who plan to get married. The purpose of the agreement is to protect assets or income of the parties. Generally, couples will sign such an Agreement when one or both of the parties have substantial assets, which have been accumulated before the marriage.
The first step is to sit down with your soon to be spouse and honestly communicate to each other your respective feelings, needs and desires. Among the purposes people have in wanting such written agreements is to try to ensure that their assets remain theirs if the marriage fails, to provide that their assets, or at least a large portion of them, go to their children in the event of death, and to work out arrangements for matters that may become problems after the marriage.
A Prenuptial agreement may deal with a wide variety of issues between prospective spouses including:
- The rights and obligations of each of the parties in any of the property of either or both of them acquired before the marriage.
- The rights and obligations of each of the parties in any of the property of either or both of them acquired after the marriage.
- The disposition of property upon separation, divorce, or death.
- The making of a will, trust, or other arrangement to carry out the provisions of the agreement.
- The ownership rights in and disposition of the death benefit from a life insurance policy.
- The choice of law governing the construction of the agreement.
- Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.
Nobody wants to think at the beginning of a marriage that it will ever end in divorce. However the statistics on divorce in the United States cannot be ignored. Here are some examples:
- In 2003 2.3 millions couples married and 1.3 million couples divorced.
- In 2003 the Bureau of the Census projected that 4 of 10 first marriages will end in divorce.
- People between the ages of 25 to 39 make up 60% of all divorces.
- Over one million children are affected by divorce each year.
- Approximately 1/3 of divorced parents remain bitter and hostile several years after the divorce.
- 75% of women and 80% of men remarry within 5 years after divorce.
- Second marriages are at greater risk of ending in divorce that first marriages.
- More people are part of second marriages today than first marriages.
A properly drawn and executed premarital agreement provides the parties with a measure of certainty as to how property and debts will be divided at the end of an unsuccessful marriage and may greatly reduce or even eliminate the issues which must be expensively litigated.
California has developed strict requirements for the drafting and execution of premarital agreements. It is essential that these be strictly followed.
California family laws and procedures are very complicated and should not be handled without consulting an attorney first. Therefore it is imperative that you consult an experienced family law attorney Gregg Anderson before making any decisions regarding your divorce matters.
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