Whether you have a wedding on the horizon or have already gotten hitched, many spouses seek protection from the possibility of divorce. You may have owned a business prior to your marriage that would be split 50-50 due to California’s community property laws, and want a prenup to maintain full control. Or maybe both of you are high earners, which often results in a postnuptial agreement. Either way, you should be informed of the role of prenups and postnups before guarding your interests.
Get familiar with the roles of prenups and postnups in California, before calling on an Orange County divorce attorney to navigate you through it all.
Prenups vs Postnups
A prenuptial agreement, or a prenup, is a contract between you and your spouse that protects both parties in the case of divorce. It’s agreed upon prior to marriage, and outlines your wishes for the terms of divorce if it arises.
While a postnuptial agreement achieves the same goal, the timing is different. Rather than being drafted before your marriage, postnups are created after you’ve tied the knot. When either of these documents are executed properly, preferably with the help of an Orange County divorce attorney, both you and your spouse’s best interests will be met. In essence, both agreements protect your best interests, allow divorce to proceed more smoothly, and save you significant amounts of money and stress.
What Do Prenups & Postnups Protect?
Throughout divorce proceedings, there are a number of items that you and your ex-spouse will have to agree on. And one of the main benefits to these agreements is the protection from the arguments and financial conflicts often seen in divorce. Here are some areas of divorce that prenups and postnups can help to quell:
Your agreement can tend to spousal support disagreements by outlining the alimony duration, the number of payments to be made, any conditions required to receive support, and other details of your alimony agreement.
Division of Property
Prenups and postnups can also specify how you and your spouse will split your assets. By including division terms for retirement accounts, investment, property, and any debts, you can ensure the property division process proceeds smoothly.
Lastly, a prenup can help determine how business interest will be divided in the case of a divorce. Your agreement can determine how you or your spouse’s business interest and its appreciation will be settled, and helps business owners retain full control rather than splitting it 50-50 due to California’s community property laws.
Reasons for a Prenup or Postnup
Prenups and postnups are fitting options when you’re both high-earners, if you have children from a previous marriage, or if one of you owns a business. Postnups are also useful if you decided against a prenup but changed your mind, or if you’ve received a large inheritance and don’t want to split it. But reaching these agreements can be difficult, especially in high-conflict situations. So, consider reaching out to an Orange County divorce attorney to protect your interests while avoiding any legal pitfalls along the way.
Draft Your Nuptial Agreement with an Orange County Divorce Attorney
Divorce is an emotional journey to endure. On top of the bitterness and anger which often result from a formal separation, the subsequent legal battles tend to make the whole process even more painful. At the Law Offices of Jennifer Owens, we revel in the power of choice. When spouses face divorce, they’re presented with a slew of decisions with a handful of potential outcomes. Our attorneys are believers in the best possible outcome, where a former couple chooses peace over destruction so that they can finally move on to their next chapter. We can help with that. No matter your desired path – divorce mediation, a negotiated settlement, or even litigation – The Law Offices of Jennifer Owens will achieve the best possible outcome by reaching a settlement that keeps all involved parties in mind. Visit our website to review our family law services or contact us online for a free consultation.