Prenuptial agreements are no longer reserved for wealthy couples looking to safeguard their considerable assets. According to a poll conducted by the American Academy of Matrimonial Lawyers, 73% of divorce lawyers witnessed an overall increase in prenuptial agreements between 2005 and 2010. With the divorce rate still lingering around 50% and more women entering the workplace, a growing number of couples are finding it in their best financial interests to make plans in case of divorce.
Determining whether to get a prenup
Creating a prenup isn’t always about money. Prenuptial agreements can cover a range of non-financial issues, such as who gets custody of the pets. Couples can also include a clause on handling their affairs upon death. In today’s economy, many people are getting married with credit card debt or student loan debt to their name. Signing a prenup helps protect the other person from sharing responsibility for that debt if the marriage ends.
Talking about a prenup
Prenuptial agreements were traditionally considered unromantic because they involve making plans if the marriage is unsuccessful. In reality, marriage is a contract, and signing a prenup helps clarify certain agreements within contract. For a couple to seriously broach the subject of a prenup, it’s best to talk about it as soon after the engagement as possible.
Creating the prenup
Once a couple agrees to create a prenup, the next step is to consult with a family lawyer, even if the prenup is relatively simple. If a couple creates a prenup without the help of an attorney, the court might not actually recognize it as legitimate, even if it is notarized.
Moreno Family Law has more than 20 years of experience practicing family law. Whether you would like to learn more about preparing a prenuptial agreement or you would like to file for divorce, we can help. Call (408) 266-9011 to schedule an appointment in our San Jose office.