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Prenuptial agreements especially valuable for those in business

Marriage, much like life, is unpredictable. Unfortunately, even spouses with the strongest intentions of staying together may end up growing apart and headed to divorce court. For this reason, creating prenuptial agreements before getting married may be a wise move for many couples in California, especially those who are in business or are interested in business.

A prenuptial agreement essentially spells out what will happen to a couple's assets in the event that they get a divorce in the future. For instance, perhaps an individual who is about to get married has a small business. This business owner and his or her future spouse may decide to include in their prenuptial agreement that the business will continue to be treated as separate property even during the marriage. That means that, if they get divorced, the business owner will not have to split the business assets.

A prenuptial agreement may also address a prospective business that does not exist when a couple decides to get married. For instance, maybe a person currently works in a traditional job role but plans to start his or her own clothing store down the road. Considering that careers are unpredictable and changeable, the best prenuptial agreements are those that are flexible.

Fortunately, even if two spouses who are going through divorce do not have prenuptial agreements in place, they can still try to work out issues such as property division and spousal support without the stress of traditional divorce litigation. Alternatives to litigation, such as mediation and negotiation, may help them to more quickly achieve a mutually satisfactory divorce settlement and move on with their separate lives. An attorney in California can help to ensure that a spouse's rights and best interests are protected at each stage of such processes.

Source: forbes.com, "Those Who Are Most In Need Of A Prenup May Surprise You", Alyssa Rower, Jan. 28, 2018

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