How Do You Know if a Prenuptial Agreement is a Good Fit for You?
Many spouses sign prenuptial agreements in the modern era – especially in community property states like California. Many argue that marriage has basically become nothing more than a legal agreement to split assets in a 50/50 manner, and spouses understandably feel concerned at the long-term prospects of this arrangement. But despite what you may think, prenuptial agreements are not bulletproof. If you are not careful, you may invalidate your prenuptial agreement and completely miss out on the potential benefits of these asset-protection tools. But how exactly might your prenuptial be invalidated in California, and how can you stop this from happening?
Was the Prenup Signed Under Duress?
A prenuptial agreement can only be valid if both parties signed it of their own free will without any pressure. If you want your spouse to sign the prenup, you cannot coerce them or threaten them in any way. This can lead to difficult situations, as you are not really allowed to say that you will only go through with a marriage if they agree to sign a prenup. In this situation, they could argue that they felt pressured to sign the agreement because they thought it was the only way to stay in the relationship. Because of this, a prenuptial agreement may only be a good fit if both parties feel relatively enthusiastic about the prospect with few reservations.
Can You Follow Instructions Carefully?
Often, prenuptial agreements are quite complicated. This requires both parties to follow instructions very carefully during the marriage to avoid experiencing legal consequences. If you are not the type who can remember a wide range of legal instructions, a prenuptial agreement might not be for you. Even a simple mistake or oversight could result in serious financial penalties. For example, a high-net-worth couple might create a prenuptial agreement that establishes a six-figure financial penalty for adultery.
Do You Want to Keep Your Finances Private?
If you are the type who values privacy when it comes to your finances, a prenup might not be the best fit. This is because both parties are required to fully disclose their financial situations before signing a prenuptial agreement. In other words, both spouses need to understand what they are getting themselves into – and what they stand to lose if they allow a prenup to dictate property division instead of the normal court process. The issue is that once you reveal your financial situation, this information could get out – potentially damaging your reputation or causing other issues depending on your unique situation.
Are You Willing to Be Realistic?
Prenuptial agreements give you considerable control – but they have limitations. These agreements are often thrown out of court for being too ridiculous – perhaps including conditions about who does the housework, the number of dates you are required to have each week, and so on. These agreements may also be invalidated if they are too strongly geared towards one spouse. You cannot create a prenuptial agreement that leaves your spouse completely penniless after a divorce. If you are not willing to be realistic, a prenup may not be the right choice for you.
Are Conversations About Money Difficult?
Finally, you should ask yourself whether it is easy to have conversations with your spouse about money. If this is a seriously touchy subject that causes arguments whenever it is raised, you might struggle to even reach the stage where you create and sign a prenuptial agreement. Some spouses simply refuse to have the conversation in the first place.
Where Can I Find a Qualified Family Law Attorney in San Bernardino?
If you have been searching the San Bernardino area for a qualified, experienced family law attorney, look no further than the Law Office of Joyce Holcomb. At the end of the day, the best way to avoid future issues with your prenup is to create an effective prenuptial agreement from the very beginning. Book your consultation today, and we can help you create a solid prenup with a lowered risk of future legal problems. If you are currently having issues with a pre-existing prenuptial agreement, we can also help you move forward with a sense of confidence and efficiency. Book your consultation today to get started. Contact our prenuptial agreement attorney in San Bernardino for more legal help.