Marriage is an exciting affair especially when you know that you are going to spend the rest of your life with a special someone. Marriage is more than just a bond between two individuals. It is also a bond between two families. And as the bond strengthens, it is only likely that the couple will make plans for finances and assets to secure their future. But such plans are slowly becoming a thing of the past. Now, most couples want to secure their personal finances which include properties and other assets. And this has given birth to something called a prenuptial agreement.
A prenuptial agreement is a legal agreement made before marriage to secure personal finances during a divorce. As per divorce laws in California, properties must be divided equally among both individuals. Prenups can be helpful during property division, but it can also have negative effects as well.
Prenups can be the result of divorces
A marriage is based on faith and trust and a prenuptial agreement is proof of lack of both. The one who files for a prenuptial agreement doubts the other over property and assets. He/she does not trust that his/her partner will play fair if a divorce arises in the future. It is likely for a divorce to take place because of trust issues. The individual against whom the prenup is made feels cheated to some extent. Divorce in such cases can be initiated by either of the two partners.
Prenups can protect personal finances
Prenuptial agreements may sound bad but they were made for a good cause. Prenups protect personal finances and assets from unfair property divisions during divorce. A prenup prevents a California court from dividing a personal property which has been claimed by an individual in a prenuptial agreement.
Prenups can damage the relationship between families
As mentioned before, a marriage is a bond between two families. Sometimes, during prenuptial agreements, either of the couple’s families become upset. The reason for being upset is the same as that of the individual who must agree to the prenup agreement. Prenups make relationships bitter and most family members remember it long after the divorce.
Prenuptial agreements can be a good idea if you wish to protect your personal financial assets during a divorce. However, there are negative consequences and a lawyer should be hired to handle a prenup in the best way possible.