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Prenuptial agreements can be critical

On Behalf of | Jan 17, 2020 | Divorce

California is home to many businesses. People who own a business and are considering marriage may want to consider signing a prenuptial agreement before they are married. The costs of not doing this can be considerable both in terms of money and stress.

Ownership of a business could become an issue if there is a divorce. This is true even if a person had the business before getting married. One could also have family money in the form of an inheritance or other assets. This type of situation recently came to light when Jeff Bezos had to give up tens of billions of dollars in shares of Amazon to his ex-wife in a divorce because they had no prenup. A person may also want to consider a prenuptial agreement if they want to make sure that children are provided for in the future.

A person may end up in a contested divorce with their assets at risk without a prenuptial agreement. Anything that touches marital assets may be subject to division in a divorce proceeding, so even if one does not lose half of their assets, they may still have to surrender a significant amount in a divorce settlement. A prenuptial agreement would spell out the terms of the divorce ahead of time. This takes risk off the table.

In order to begin the process of considering a prenuptial agreement, it may be helpful to consult with a family law attorney. The attorney may offer suggestions and advice on the best way to reach a durable prenuptial agreement. They might also handle the process of negotiating the agreement so that a client does not have to get involved in a detailed process with a future spouse. These agreements can be sensitive. Accordingly, they must be handled with a level of tact and delicacy.