California residents may assume that they have to be wealthy or famous in order to need a prenuptial agreement. However, prenuptial agreements are an option for everyone, regardless of their net worth. There are several myths about prenuptial agreements, and it is important that you educate yourself about how they really work.
Prenuptial agreements are a sign of a weak marriage
When you pull out of your garage, you put your seatbelt on. You don’t do that because you assume you’re going to be in an accident; you do that because you know that vehicle accidents are a real possibility. Putting prenuptials in place doesn’t mean you think your marriage is going to fail; it simply means that you know that divorce is a possibility.
Prenuptial agreements are only for the wealthy
Since celebrity divorces garner more news, many people believe that prenuptial agreements are only a tool for the super-rich. However, prenuptial agreements are a tool that is available to everyone, regardless of personal net worth. There is no minimum amount requirement for an estate to be involved in a prenuptial agreement.
Postnuptial agreements are another option
There is no law that says that you must have an agreement in place before the wedding. Many couples don’t put a prenuptial agreement in place but decide that they need one after the fact. You can put together a postnuptial agreement that is just as legally binding as a prenup.
Couples who decide to put a plan in place regarding their assets should work with an attorney who is familiar with family law in their state. This attorney can review their clients’ assets and help them put a plan in place that works for everyone in the event that the marriage does not work out.