Premarital agreements, explained
The wedding date is on the calendar, the ceremony plans are well underway and the excitement has fully settled in. At this stage, most California couples would likely ask, what could go wrong? Needless to say, it be difficult to contain one’s elated feelings during such big life changes, but there are often details of the marriage process that get left behind. The below information explains the steps of a premarital agreement, as well as the importance of completing these documents.
A premarital agreement, as defined by The Knot, outlines a couple’s financial plan for marriage through a legal lens. Of course, discussion of divorce is probably the last topic future newlyweds would prefer to discuss, but The Knot reminds readers that it is crucial to communiate openly during this process. Avoiding this talk might only invite complications in the future. In a similar vein, rushing this procedure could make way for trouble. Placing emotions momentarily to the side to discuss these vital steps can leave more room for the enjoyable aspects of the union itself.
One Bankrate article points out some reasons why engaged couples should sign a premarital agreement in the first place. First and foremost, those with personal or business assets can benefit greatly from these agreements; furthermore, this process can ensure that future income from assets remains in the right hands, should a separation take place. Bankrate also shares that premarital agreements can address property acquired before the vows, and can cover the waiving of areas such as death benefits or spousal support. As for California specifically, Bankrate notes that couples must sign an agreement at least seven days before its initiation. There are many other areas of fine print involved in premarital agreements, and those in these stages may look to local regulations to complete the process and move on to that highly anticipated and joyous day.