If you are engaged, then you may be wondering whether or not you need a prenuptial agreement. It is always wise to create one of these documents that will govern the divorce settlement in the event that your marriage does not work out. At present, you may be smitten with your future spouse, and creating a document to prepare for potential separation sounds anything but romantic. Still, if you fail to take advantage of the opportunity to create a prenuptial agreement, you may regret it down the road. It is always best to prepare for the worst so that if it does come to divorce you are ready. About 50% of all marriages end in divorce, so it is never wise to ignore the possibility of a termination of marriage.
A premarital agreement is a private agreement that is made between you and your future spouse about the future of your finances. When you create a prenuptial agreement, you should include details about how you will divide property in the event that you and your spouse separate, and how properties that you acquire during the marriage will be divided. Also, you should include how income and earnings are going to be treated during the marriage and how they will split in the event that you separate.
Also, you can write into a prenuptial agreement when alimony or spousal support will be appropriate in your divorce, and how you will pay any attorney's fees in the event of a legal separation or divorce. Sometimes, prenuptial agreements include how spouses will pay for any expenses if there are children or stepchildren that result from the marriage, and how any property is to be handled in the event of one spouse's death after the divorce. Don't hesitate to create one of these documents with the help of a Mission Viejo divorce attorney today and prepare for the future!