Why Premarital And Postmarital Agreements Work
Many people believe that premarital and postmarital agreements are an indication of trouble in a relationship. However, they can actually help couples prevent future trouble by setting expectations for both parties and helping both people plan for the future together. Common aspects of a prenuptial agreement may include protection against the other party’s debts, protection to preserve family property, protection for estate plans or retirement accounts, and many more considerations. The reality is that marriage is complicated, especially when both partners bring different assets to the relationship. There’s nothing wrong with discussing the future of these assets before or after getting married.
At The Gillespie Law Firm, I help clients on a regular basis determine what is most important for them to include in their premarital agreements and postmarital agreements. Sometimes these documents are simple and other times they are complicated and detailed. Every couple is different, and it’s important to work with an attorney who can provide guidance that is personalized to your needs and goals.
What Could Be Included In Your Agreement?
Marital agreements can save you money and future heartache. They don’t have to take the joy out of starting your life with your partner. Marital agreements often foster effective communication for you and your spouse to have a healthier relationship. A premarital agreement is a practical way to:
- Communicate and set financial goals before getting married
- Identify assets and debts and determine marital property
- Characterize and define property
- Determine how to resolve potential financial conflicts
- Minimize money disputes
Marital agreements will provide you and your partner with a clear understanding of your expectations during marriage and can help you avoid future problems. You can determine the management of:
- Household expenses
- Credit card spending
- Savings contributions
- Retirement benefit allocations
- Separate businesses
Most married couples will discuss these things eventually, but not everyone gets them in writing. However, writing your plan down can ease future tension and ensure the expectations are clear for both parties.
Let The Gillespie Law Firm Help You Plan Ahead
I will work together with you to create an agreement that allows you to know what you and your partner want. Call The Gillespie Law Firm at 310-986-2919 to learn more about how we can help you with premarital and postmarital agreements. If you prefer to reach our Los Angeles office online, please complete our contact form.