Accounting For Assets And Debts Brought To A Marriage
When two people fall in love and decide to get married, there are numerous topics that should be discussed. In addition to talking about your life plans and goals and whether or not you want to have children, it is also wise to address matters related to finances and the property, assets and debts that you and your spouse bring to a marriage.
Today, many residents throughout California are making the decision to sign prenuptial agreements prior to walking down the aisle. At the Law Offices of Susan H. Witting, we help individuals who own a home or have children from previous marriages or assets to protect draft prenuptial agreements that provide clear directives for how these types of financial assets and liabilities should be accounted for during the marriage in the event a marriage ends.
Prenuptial agreements are beneficial for individuals who have financial goals related to the following:
- A home or property
- A business or a stake in a family business
- An inheritance
- Children from a prior marriage or relationship
- Debt or other financial liabilities
- Allocation of spousal support
Protecting Financial Interests During A Marriage
While a prenuptial agreement must be signed before a couple marries, a postnuptial agreement is executed while a couple is married. From a desire to protect assets or perhaps a sizeable inheritance or to set forth rights and responsibilities during the marriage, there are a number of circumstances that may arise during the course of a marriage that affect one or both spouses personally and financially.
When faced with these types of issues, spouses may choose to establish a postnuptial agreement. Much like a prenuptial agreement, a postnuptial agreement can be used to define and set clear expectations, perimeters and directives related to a variety of events and issues that a married couple may encounter.
Ultimately, prenuptial or postnuptial agreements can reduce conflict and provide peace of mind and financial security. If you are interested in establishing a prenuptial or postnuptial agreement, attorney Susan H. Witting will ensure that a document is properly drafted, executed and achieves your financial goals. Call our Thousand Oaks office at 805-777-7371 or contact us online.