San Francisco Family Law Blog

Married people who live in California and who become suspicious that their spouse is not being honest with them financially may often wonder what they can do about their concerns. If the couple is still married, these suspicions might point to an impending divorce. If a couple is in the midst of a divorce, the concerns may raise a flag about the legitimacy of the divorce negotiations that are currently underway.

One thing that some people do when they have fears that a spouse is hiding assets is to hire a forensic accountant. As explained by the Forensic CPA Society, these professionals can be involved in both investigating allegations or concerns as well as in providing support during litigation, such as in a divorce case. They are skilled at identifying hidden assets and at calculating any losses or damages that may be related to the hiding.

Aside from the social element of marriage and the creation of a household, the institution is largely financial. As soon as the marriage partnership is final, the partners become subject to standard contract rules that govern the division of property, care for children and other important economic concerns.

This practical side of marriage is the sole concern of premarital agreements. Married couples already enter into this contract by default, and prenups simply define the terms in a way that fits for the couple personally. That is in contrast to marrying with out one, which would apply a standard set of rules determined by lawmakers to be the best default agreement for everybody in California. Almost everyone could benefit from specific terms, but children of wealthy individuals should be among the most interested in this option.

When you divorce your one-time partner in California, you will undoubtedly need to work through certain matters, such as who is going to keep the house, whether one party will need to help support the other and so on. Increasingly, though, many divorces are becoming contentious with regard to who gets to keep the family pet, and the state has recently changed the way it handles these situations.

According to NBC News, dogs and other pets are a common point of contention in many modern divorces, and California’s courts will no longer necessarily handle dogs in the same manner they might cars, artwork or other assets. While couples have fought over who gets to keep the family pet for decades, California’s courts may now handle pets in a manner similar to how they would shared children.

Dating or engaged couples in California who are wondering if a prenuptial agreement might help them should get the facts about what can make a marital contract most beneficial to them. They should also learn about what might make a prenup invalid so they can avoid this type of pitfall. 

As explained by CNBC, a good prenuptial agreement requires both parties to be completely honest and transparent with each other. This means they should both fully disclose not only their assets but also their debts. While this can be difficult, especially if someone has a lot of debt that they may be embarrased about, it is an essential step in the prenup creation process.