What is a prenuptial agreement and when should it be used?

A prenuptial agreement, often referred to as a “prenup,” is a contract between two people who are planning to get married. This agreement lays out the rights, responsibilities, and duties of each partner, as well as how assets, such as bank accounts, real estate, investments, and other properties will be divided should the couple decide to divorce. In California, prenuptial agreements are regulated by the California Family Code, which states that all agreements must be in writing and signed by both parties. This means that if either partner fails to follow through on their duties as outlined in the prenup, they can be held legally and financially responsible. When should a prenuptial agreement be used? It’s typically recommended for couples who have assets or debts that they would like to keep separate in the event of a divorce. This includes individuals who have an existing business, real estate, investments, etc. Additionally, this type of agreement can be beneficial to both partners, as it can help keep things fair and equitable should the marriage end. Ultimately, a prenuptial agreement is an important financial tool for couples in California who are looking to protect their assets in the event of a divorce. If couples are considering this option, they should seek legal counsel to discuss the specifics of such an agreement.

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What is a prenuptial agreement and when should it be used?

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