To Prenup or Not to Prenup – That Is the Question
Considering a prenuptial agreement prior to marriage and feel it shows a lack of trust? On the contrary, it’s a smart move.
These days, more and more Americans are opting to have a prenuptial agreement drafted prior to marriage. “Premarital agreements, also known as prenuptial agreements, are a smart move to protect your assets going into the marriage,” said Gerald A. Maggio, of the Maggio Law Firm in Irvine, California.
Once upon a time these agreements were regarded as a lack of trust in the other party, regarding the upcoming marriage. Nowadays, those about to be married, particularly those who are older or on second marriages, realize the value of having a premarital agreement in place should anything go sour later. In addition, prenups are for the protection of both spouses, not just the one with the most money.
Are prenups “unromantic?” “Perhaps in some respects they are, but not signing one in the State of California means the marriage would then be governed by a convoluted set of rules known as the California Family Code. What all this legal jargon boils down to is that either the people planning on getting married choose their own rules to live by, or live by the rules of the State. Most people prefer living by their own rules,” added Maggio.
Of interest is the fact that Jewish marriages have traditionally called for a prenup called a Ketubah. It is considered the whole foundation of marriage in the Jewish culture. The Catholic Church also has a similar idea, called a “Prenup Dialogue” as part of their marriage preparation courses called Pre-Cana. The bottom line here is that prenups prepare people for the marital journey ahead of them. “Talking about money ahead of time may save heartache later,” explained Maggio.
While it might cause a few moments of utter stress as the negotiations for a prenup get started, the whole process may result in a surprising turn of events. It may actually strengthen a relationship in that both sides need to be brutally honest and open about how they handle money and plan for the future. Knowing the rules going into the marriage is far better than being surprised later by rules no one was aware of and disagrees with as well. This only makes good common sense.
“When in doubt, make certain to have a consultation with an expert family law attorney who will outline what is required for a prenup in the State of California and how the prenup may be affected by California community property law,” suggested Gerald A. Maggio, of the Maggio Law Firm in Irvine, California.
For more information or to schedule a consultation with Orange County divorce lawyer Gerald Maggio, contact The Maggio Law Firm by calling (949) 553-0304 or visiting Maggiolawfirm.com.
As soon as the divorce proceedings start, it has been observed that many people try their best to hold back what according to them is their own property or money….