Protecting Assets With A Marital Agreement
As a couple’s wedding day approaches, a prenuptial agreement may seem secondary to abundant wedding plan demands. But a marital agreement can help couples address financial issues and outline asset ownership before tying the knot. It also removes ambiguity over property division and protects individual assets should the marriage end.
I am Robert Borsky, an attorney with over 30 years of family law experience. As a Family Law Specialist certified by the California Board of Legal Specialization, I am uniquely qualified to draft or review your marital agreement. Let me help you begin your marriage with clarity and honesty.
The Purpose Of An Agreement
A marital agreement is an agreement made between spouses that summarizes ownership of individual and marital assets and the process for division if the marriage ends. Couples may find an agreement beneficial when:
- Either spouse has assets they want to protect for their biological children before remarrying
- A spouse owns a business and wants to protect it in the event of a divorce
- A spouse wants to designate property or wealth to specific beneficiaries if they die during the marriage
- One spouse has more assets than the other
- One spouse earns substantially more than the other
- One spouse has significant debt
Before Or After Exchanging Vows?
A prenuptial agreement is signed before the marriage takes place and becomes effective once the couple exchanges vows. A postnuptial agreement is a contract made any time after the marriage occurs and functions similarly to a premarital agreement.
However, under state law, a prenuptial agreement is presumed to be valid, whereas a postnuptial agreement is presumed to be invalid until the court determines validity.
Ensuring Enforceability With My Help
The enforceability of a prenuptial or postnuptial agreement hinges on validity. To be valid, a marital agreement must be:
- In writing and voluntarily signed by both spouses
- Fair to both spouses
- A full disclosure of financial information for both spouses
Whether you need to draft an agreement or have an agreement reviewed before you sign it, I can help. Email my firm or call 818-869-1016 to arrange an appointment. From my Woodland Hills office, I serve residents throughout the San Fernando Valley.