Archives for December 2022

3 Myths and Misconceptions about Postnuptial Agreements in California

If you are planning to get married, you may be getting advice from family or friends encouraging you to get a “prenup.” A prenuptial agreement is contract entered into prior to marriage that often contains provisions for property and debt division in the event of a divorce. This article addresses some of the common myths and misconceptions regarding prenup agreements.  

  A prenup dooms your marriage. 

  • Asking your loved one to sign a prenup is not very romantic, but often marriage involves challenges where thoughtful planning and communication can trump the romance and assumptions that come in the courtship stage, which is why loving relatives and friends urge couples to keep the romance alive later in the marriage by tackling tough topics before conflicts arise. 
  • Asking for a prenup is not bucking a trend, but rather following it. As reported on mediate.com, 44% of singles think a prenup is a good idea and 15% of divorcing couples wish they had signed a prenup. 

Prenups are expensive to get or are just for rich people

  • Truth is, not matter how much or little money you have, everyone at some level cares about money because it is the way we survive. 
  • You may have student loans or credit card debts or may plan to incur those during the marriage. 
  • You may inherit money during the marriage. 
  • You may want a safety net against your future spouse’s unhealthy behaviors (money toward addictions, uncontrolled spending, etc. )

Prenups are unfair 

  • The most widely publicized prenup cases are often those that are unfair to one spouse, but the norm is to create a balanced and fair agreement that effectuates the goals of both spouses. 
  • Both parties should be represented each by their own lawyer to ensure fairness in the prenup process. 

Contact an Experienced Family Lawyer

Many couples want a simple prenup that doesn’t break the bank and others want a complex contract that deals with significant assets and future income. Regardless of where you fall on the spectrum of cost and complexity, here at the Law Office of David Knecht, we have extensive experience in prenuptial agreements in California and can help you successfully prepare a contract within your budget that meets your goals. Contact us at 707-451-4502. 

 

Filed Under: Divorce Advice, Divorce Attorney

How Can Prenuptial and Postnuptial Agreements Strengthen Marriages?

Many people are reluctant to broach the topic of a prenuptial or postnuptial agreement to their fiancée or spouse with the concern that it may be seen as a hostile or distrusting gesture, but in an article published at Forbes.com, the author (who is a wealth advisor and divorced parent herself) asserts that these types of agreements can actually strengthen marriage and can avoid disastrous consequences in divorce. 

Why talk about prenuptial agreements and postnuptial agreements before things go sour?

  • Life is unpredictable and marriage is difficult
  • Talking about challenging topics while the marriage is still good is better than waiting until the typically adversarial construct of a divorce
  • Money and communication are the two top reasons why people get divorced,

What is a prenup or postnup and why do you need one?

  • A prenup is a contract entered prior to marriage
  • A postnuptial agreement is similar to a prenup except that it is executed after a couple is already married. 
  • It commonly addresses spousal support and provisions of assets in a divorce
  • It’s not just for the rich and famous. Everyone has something worth protecting.
  • It can address property, debt, future inheritances and earnings. 
  • Information or documents that show assets and debts.

What are topics to consider in a prenup/postnup?

  • Division of assets and debts
  • Amount and duration of maintenance/alimony upon divorce
  • Ownership and use of property 
  • Trusts or wills

Can a prenup or postnup determine child custody or support?

  • No, parental responsibilities and child support are based on the best interest of the children, so they cannot be negotiated in advance of a marriage or divorce.

Contact an Experienced Family Lawyer

An experienced family lawyer can help you with a prenuptial or postnuptial agreement that can save time and anxiety in the future. At the Law Office of David Knecht we have extensive experience with family law in California and can help you successfully prepare these agreements. We look forward to assisting you.  Contact us at 707-451-4502. 

 

Filed Under: Divorce Advice, Divorce Attorney, Divorce Lawyer

What Can We Learn From Hollywood About Estate Planning

For those who follow celebrity news, there have been recent sobering and tragic events. This article discusses the heartbreaking passing of dancer, Stephen (tWitch) Boss, and actress, Kirstie Alley, as well as Celine Dion’s recent news of a challenging health diagnosis with stiff man syndrome. While we mourn with other fans about these events with sensitivity and compassion, we also urge our clients to use these celebrity examples as motivation to consider loved ones and make estate planning priority. Below we share a few lessons that can be gleaned from celebrity news. 

You are never too young for estate planning

  • The recent tragic death of Stephen (tWitch) Boss, a dancer who rose to fame through So You Think You Can Dance, is a case in point as he was only 40 when he died. 
  • There is much public concern as to the reason Twitch took his own life, but no answers that have been made public at this time and the hearts of many of his fans have been mourning his early death and its impact for his wife and children. 
  • The lesson here for estate planning is a heartbreaking one: you may not know the demons your spouse or partner is facing in life or how to help them, so preparing for tragic possibilities is wise even though it can be a challenging topic to discuss with loved ones. 

Estate planning for a health crisis is wise because a health crisis can be severe and unexpected

  • Celine Dion, renowned singe, recently announced a challenging health diagnosis, stiff person syndrome, that is preventing her from completing her upcoming tour.
  • This highlights that disease and disability can happen suddenly to anyone, and that serious health conditions can impact ability to work and qualify of life. 
  • Part of complete estate planning is thinking ahead to your wishes regarding health challenges in the future – for example, who do you want to help make medical decisions for you if a health condition prevents you from making decisions for yourself, how can you plan your assets for protection from creditors in the event of a major health crisis?

Estate planning is necessary because you never know how much time you have left

  • The reality for all of us is that life is precious and the amount of time we have left is unknown, so estate planning to communicate your wishes to loved ones and dispose of your property as you see fit is timely no matter when you begin. 

Contact an Experienced Estate Planning Law Firm

Although these celebrity stores are sobering, the good news is that you can seize today to get started on an estate plan that can help alleviate the stress and sorrow of loved ones in the instance of challenging or tragic events. the Law Office of David Knecht we have extensive experience with estate planning in California and can help you successfully plan for the future. We look forward to assisting you.  Contact us at 707-451-4502. 

 

Filed Under: Estate Planning, Estates