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When two inviduals plan to marry
and each has a sizable estate already, it is to both party's
advantage to establish a Prenuptial Agreement prior
to getting married. Even more important is when both parties
have been married previously and have children of their
own that they do not want to have disinherited due to the
new marriage. In those cases, a Prenuptial Agreement,
together with a Trust or a Trust for each
party, serves to protect the children from the prior marriage.
In both cases, if the marriage does nhot work out,
all the rancor, ill will and disruption caused by fighting
over assets is greatly reduced or eliminated. If the marriage
does last that the Trust or Trusts are reflections of the
Prenuptial Agreement, then eveyone's focus can be
on the loss of a loved one, when either spouse dies, instead
of fighting for property.
By completing a simple questionaire, followed
by an initial consultation, drafts of the agreement can
be produced for review. A second attorney serves
as the attorney for one of the parties and then the agreement
is executed. The fees for most couples is $500.00 plus the
cost of the second attorney. Please click on Establishing
a Prenuptial Agreement for a discussion of the provisions
that may be included in a Prenuptial Agreement and
the typical process/time involved.
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ESTABLISHING A PRENUPTIAL AGREEMENT |
When two parties get married, state
law basically decides what happens to the assets of both
parties, should the marriage end in divorce
or legal separation or at the death of either or both parties.
Rather than be bound by state law, the basic purpose of
the Prenuptial Agreement is to allow the parties
to decide for themselves what will happen with their assets,
should the marriage end by legal action or by death.
In addition, provisions that may be included in a Prenuptial
Agreement include a wide range of issues well beyond
simply money:
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-FREQUENTLY ASKED QUESTIONS |
What
is the benefit of a Prenuptial Agreement in regards
to?::
Income
Assets/Debts
Expenses
Real
Property Assets
Real
Property Acquired
Health
Ins. / Medical Care Costs
Children
Amending,
Resolving Difference / Liquidated Damages
Dissolution
Provisions
Death
- Estate Planning
Other/Optional
Provisions
Contact Craig J. Bauman to Find out
(858) 488 - 1497
cjb@californialawpractice.com
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