Deciding whether or not to get a prenuptial agreement is a difficult decision for any couple, but it’s incredibly challenging when one partner is wealthier than the other. The misconception that prenups are only for the wealthy leads many couples to think they don’t need one, but this isn’t necessarily true.
It's important to remember that prenups are designed to protect both parties in the event of divorce, and no matter how much money you have, it is always worth considering a prenup if you're planning on getting married.
What Can Be Included in a Prenup?
Prenuptial agreements are contracts. They can include provisions about each spouse's property rights, alimony/spousal support obligations, estate planning issues, and even provisions about specific assets such as a family business or real estate properties. In California, couples can also include clauses about what will happen if one partner commits adultery or abandons the marriage. No matter your financial situation, there are always valuable items and assets that can be protected with a prenup.
Additionally, prenuptial agreements can contain waivers of spousal support—meaning that neither party will ask for spousal support payments in the future should they get divorced. This is especially beneficial for couples where one partner has significantly more wealth than the other because it ensures that neither party feels obligated to pay out more money than necessary in the case of divorce. Even if you do decide not to include this type of waiver in your prenup, having an agreement in place can still help protect both spouses' interests and provide clarity moving forward.
The Benefits of Prenups
Having a prenuptial agreement in place provides peace of mind and security for all types of couples, regardless of their financial situation and income level. A well-crafted agreement will take into account both individuals' unique needs and goals so that any disputes can be resolved quickly and easily in the event of divorce or separation.
Plus, drafting an agreement together before getting married allows both partners to speak openly about their financial goals and expectations from their marriage, which can help set them up for success over time.
Giving You The Upper-Hand During This Difficult Time
Ultimately, getting a prenuptial agreement does not mean that either individual is expecting their marriage to fail—it simply means they want to be prepared should anything unexpected happen down the road. No matter how much money you have or don't have, it's always worth considering a prenuptial agreement before tying the knot, so both individuals know exactly what they're entitled to in case of divorce or death.
Are you considering a prenuptial agreement? Call our office at (909) 315-4588 to schedule a consultation with one of our attorneys and learn more about how we can help you create your prenuptial agreement before your wedding day.