Prenuptial agreements do not seem very romantic. Many couples decide not to pursue a prenuptial agreement because they feel that may detract from their relationship’s romance. But prenuptial agreements are very important legal documents that can protect your assets in the future.
In the unlikely event that you and your partner get a divorce, a prenuptial agreement can be worth its weight in gold. Couples in Silicon Valley who have accumulated significant property, real estate and other assets may be particularly interested in a prenuptial agreement.
Why consider a prenuptial agreement?
There are several arguments in favor of prenuptial agreements. Many people are initially put off by the thought that they and their partner would ever divorce. Others decide not to spend the money on a prenuptial agreement. But there are major problems to these two arguments. You and your partner are deeply in love now, but the rate of divorces in the United States hovers around 50 percent. It is possible that in the future, you may decide to go your separate ways. And though lawyers’ fees can be expensive, a prenuptial agreement can save immeasurable money, time and effort in the future.
There are several other reasons why couples in Silicon Valley choose prenuptial agreements:
- California is a community property state. This means that in a divorce, any assets that you accumulate during your marriage will be split 50-50 with your spouse-unless your prenuptial agreement states otherwise.
- Divorce can be complicated and acrimonious. A prenuptial agreement that you and your spouse have both signed can make the process simpler and more amicable.
- Dividing a startup in a divorce can be a legal nightmare; prenuptial agreements can address many factors related to startups or other small business.
Creating a prenuptial agreement
If you are thinking about creating a prenuptial agreement, there are a few ways to go about it. One way is to attempt it on your own, but these prenuptial agreements do not always hold up in court. Many couples in Silicon Valley choose to work with a divorce attorney who has experience with local and state marriage laws. Prenuptial agreements may not seem romantic at first, but they can go a long way toward protecting a couple through their marriage or divorce.