When they are in love and planning a marriage or domestic partnership, no couple wants to contemplate the possibility their relationship might not continue “happily ever after.” However, if a couple cannot have meaningful conversations regarding money, property and finances before marriage, the probability of success for their marriage is slim. Prenuptial agreements for Santa Monica area residents are an important financial planning tool for couples. Today, as couples often marry after they have established their careers, each of them may own their own property. Few spouses-to-be want to simply give up their separate property, but many people do not realize the full consequences of marriage on their property.
Further, the hard reality is that more than 50% of marriages end in dissolution.
Expensive, complex problems can arise in a dissolution action because parties fail to consider the possibility of divorce before marriage and fail to take the steps necessary to protect what they may already own. A prenuptial agreement in the Santa Monica area can greatly assist in determining property division in the event of a divorce or dissolution of a domestic partnership. We believe that once both parties have completely disclosed their assets and liabilities, a couple can work together to reach an economic understanding. Proper premarital planning can also significantly reduce the time and money involved should the marriage or domestic partnership break up.
Drafting enforceable prenuptial agreements for the Santa Monica community requires knowledge of contracts and family law. The family law specialists at Trabolsi & Levy, LLP know the law and we ensure that all relevant assets are covered by the prenuptial agreement and that all the proper procedures have been followed to make the agreement enforceable. We advise our clients to develop these agreements as soon as they decide to marry in order to eliminate questions about the timing of the contract.
A postnuptial agreement from our Santa Monica family law firm is similar to a prenuptial agreement, but it is drafted after a couple marries or enters into a registered domestic partnership. Just like a prenuptial agreement, a postnuptial agreement can help couples plan financially, and in the event of a separation, a postnuptial agreement can help make the dissolution go more smoothly.