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Prenups could streamline the California property division process

Whether getting married for the first time or an additional time, asset protection is important. Because no marriage is perfect, the chance that a divorce could occur does exist, and California residents could find themselves facing the property division process. Most people do not want to enter such proceedings with uncertainty, and creating a prenuptial agreement could help.

Even if it is never needed, a prenup could help act as a safety net. With this document in place, if a divorce does occur, the agreement can help streamline the asset division process as terms have already been decided before the marriage even occurred. Without this document, the proceedings could become contentious and time consuming as a judge's ruling may be necessary to determine who gets which assets according to state law.

If a person is getting married for a second time, a prenuptial agreement can offer different benefits. If there are children from a previous marriage, this agreement could help protect the kids' inheritances, especially if the previous spouse is deceased. It is possible for conflict to arise with new spouses and children regarding a deceased individual's property, and a prenup may be able to avoid such a scenario.

Though many California residents may hope to avoid the property division process by remaining married, it may still prove wise to prepare for the possibility of divorce. If individuals have questions regarding how to create a prenup or how their existing prenup will come into play during divorce proceedings, they may wish to consult with their legal counsel. Knowledgeable professionals could provide reliable and useful insight.

Source: lexology.com, "Premarital agreements: more than just a divorce document", Leonce Richard, Nov. 3, 2017

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