What does a prenuptuial agreement protect? Is it costly to set up?

Question

I make a six figure salary and have almost a million dollars in assets. How does a prenuptuial agreement protect me? I live in California.

Answer 1

I am a divorce attorney. Coragryph is correct in his answer. The more you plan to and agree to now the less hassle there is in the event of divorce.

If you need one drafted, I am happy to provide my services. Contact me through Yahoo! Answers with any questions.

Answer 2

Most states have laws that determine how property ownership is affected during a marriage, and how property division and alimony are determined if a divorce occurs.

A prenuptial agreement allows the couples to set forth their own rules, as a contract, which the court will generally enforce (if they are reasonable).

Generally, an agreement can be drafted in an hour or three by a competent family law attorney, and if there is a lot of money or property potentially involved it's worth hiring professional counsel to get it right. An improperly drafted agreement can cause months (not hours) of litigation if it is later challenged.

Answer 3

It can probably protect about anything you want it to if the other person signs it.

1. if you have kids from prior marriage it can probably protect their financial interests (and don't say that "she/he wouldn't do that to my kids" cause you never know and


2. it protects assets you had prior to the marriage. So if they are basically broke - and you're some rich dude - it would be worth it.
some have clauses about what happens if she cheats and what happens if he cheats, etc

3. just for fun put in a clause about her not smoking on the 3rd moonless, cloudless night a month.


ps- will you marry me?


Oh and if you do have kids - make sure your kids are protected. Don't make family members the beneficiary of the kids. I've seen too many families **** on each other over money - even when there isn't much. Don't make it your wife if you have an ex.

Answer 4

They are pretty cheap in retrospect. All they do is protect what was yours before you are married, it may even discuss a divorce settlement should there be one. I know even though I don't have millions, I will have a prenup to keep my house as mine in the event of a divorce. If they won't sign the prenup, walk away. This nation has a greater than 50% divorce rate, so odds are not in your favor of a successful union. See a good divorce lawyer, they will help you write an iron clad agreement.