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Prenuptial agreements increasing as couples wait on marriage

The days of graduating high school and then getting married appear to be over for most California couples. Now, rather than rushing into domestic bliss, many young people are waiting until later in life. They are looking to first graduate college and begin a career. With this in mind, when these couples do decide to get married, they usually bring a variety of assets and debts into the marriage. As a result, the number of couples signing prenuptial agreements prior to saying wedding vows in increasing.

Many engaged couples find that the prenuptial agreement is a useful tool in taking an honest look at their individual finances. Each individual has his or her own view on how finances should be handled, and this agreement provides a good starting point for discussion. Of particular concern to couples is the debt that individuals bring into the marriage. The prenuptial agreement can address how student loan, credit card and other debts are to be handled in the event of a divorce.

Another area of concern for these couples is the assets that each individual has accumulated prior to the marriage or expects to inherit while married. The prenuptial agreement can protect both an individual's existing assets as well as inherited assets. In addition to what the individual has accumulated prior to the marriage, many prenuptial agreements also address the issue of one individual taking a break from the workforce in order to care for any children that the couple may have.

Prenuptial agreements are often thought of as planning for the worst. However, many California couples find that they actually help the couple to plan for their financial future. By working with their respective attorneys, each individual can be certain that their specific areas of concern are addressed prior to problems arising.

Source: wfmz.com, "Life Lessons: Prenups: I do or I don't", Nancy Werteen, April 20, 2017

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