San Diego Marital Agreement Attorneys

The San Diego, California marital agreement lawyers at Smith Family Law can assist you if you need a marital agreement. Many people going into marriage don’t realize that marriage is a legal contract that can impact your property, your income, your debts, your estate planning, and even your business, if you own one (or plan to start one). Without a marital agreement in place, couples are basically agreeing that their marriage will be governed by California state marriage laws, or the marriage laws in any state where they happen to live in the future. Couples who want clarity about what marriage means to them financially often choose to enter into a marital agreement.

A marital agreement is an opportunity for both sides of a partnership to lay everything out on the table and set expectations. Despite stigmas, they are neither good or bad but simply an option for those entering marriage to establish expectations in the event of a divorce or death.

Here is why a marital agreement can be important or necessary. Marital agreements, or prenuptial agreements aren’t just for the wealthy.

• Debt Management. If you and your partner are going into your marriage with significant debts, a marital agreement can offer clarity about how you’ll manage debts, including responsibility for individual debts and shared debts. If you anticipate that one partner will get into significant debt to attend medical or law school during your marriage, for example, a marital agreement can offer clarity about individual and shared responsibility for these debts. If one partner will launch a business and take out loans to launch the business, a marital agreement can offer clarity about business ownership and even protect marital assets from creditors if the business runs into problems. If one partner has a history of getting into significant debt, a marital agreement can help the couple keep their debts separate, which can protect the other partner’s income and assets. There are limits on what kind of debts can be protected or kept separate under a marital agreement. A San Diego, California marital agreement lawyer at Smith Family Law can offer guidance.
• Income Management. California is a community property state, meaning that any income either partner brings home is owned 50-50 by both partners. This could have significant implications regarding how you can invest and use your income during your marriage, and how income earned during your marriage might get distributed to your children from a prior marriage. A marital agreement allows you and your partner to decide for yourself how your income will be owned and treated during your marriage. It can give both parties the freedom to manage their own money how they see fit without the state getting involved.
• Estate Planning. If you have children from a prior marriage, a marital agreement can be a significant part of your estate planning. A marital agreement allows you and your partner to discuss how your children from your prior marriage will be supported and how your estate plan will work. Because income is owned equally between both partners during a marriage, conflicts can sometimes arise if one partner wants to use a large share of their marital income to support their children (for example, by paying for college). A marital agreement can protect you and your children from prior marriage and prevent misunderstandings or arguments later.
• Children from a Prior Marriage. Because income and assets purchased during your marriage will generally be considered shared property, a marital agreement allows you to set aside marital income and assets specifically for your children from a prior marriage.
• While an inheritance is usually considered separate property even if it is acquired during the marriage, issues can arise if the inheritance gets comingled with marital assets. A marital agreement can offer clarity about inheritance.
• Wealth Protection. If you are bringing in significant wealth into your marriage, your prenuptial agreement can ensure that any wealth you bring into your marriage remains your separate property. While assets and wealth brought into a marriage from before the marriage are generally considered separate property, there are situations where assets can become comingled during a marriage. A marital agreement can help you take steps to protect your assets and wealth and help you develop a financial plan so that your financial structure aligns with your intentions. If you own a home and want to keep it separate, or if you have investments, a business, or separate wealth, a marital agreement might be something to consider.
• Protecting Financial and Non-Financial Contributions. In any marriage, both partners make different kinds of contributions. One partner might contribute more financially while the other might care for children. Childcare for example, could limit one partner’s earning potential. A marital agreement allows both you and your partner to gain clarity about each partner’s contributions and allows both partners to protect their investment in the marriage. In this way, a partner making significant financial contributions or disparate financial contributions might be able to protect his or her investment and earnings during the marriage, or a partner who stays home to care for the children, can do so with the peace of mind that he or she would continue to be supported or receive support to rejoin the workforce later if circumstances change.
• Retirement Planning. If you are getting married later in life and are nearing retirement, a marital agreement can help you and your partner plan for retirement and offer clarity about each partner’s financial contribution during retirement. A marital agreement can also be an important part of an estate plan.

These are just some of the reasons why a couple might want to put in place a marital agreement before they get married. A marital agreement is also a great time for a couple to discuss financial responsibilities and to create a financial plan. Many marriages end and many relationship conflicts stem from disagreements about money and finances. A marital agreement allows both parties to discuss their finances before they get married and address disagreements about money and finances before they become an issue. A marital agreement allows both you and your partner to discuss these crucial questions before you get married.

If you want to ensure your rights and assets remain protected throughout your marriage, you should consider establishing a marital agreement. At Smith Family Law, APC, our lawyers are dedicated to helping Californians develop comprehensive, legally secure agreements that protect their property and quality of life. Contact the San Diego, California marital agreement lawyers at Smith Family Law today.

Types Of Marital Agreements We Offer in San Diego, California

Our attorneys can assist you with the following types of legal agreements:

Marital Settlement Agreements

Marital settlement agreements enable spouses to determine how matters such as property division, child support and custody, and alimony will be handled in the event of a divorce. A marital settlement agreement can be attached to divorce proceedings, allowing the court to incorporate or merge the terms of the agreement into the divorce decree.

Marital settlement agreements offer spouses a more amicable, inexpensive way to obtain equitable terms for their divorce. Our attorneys will work with you and your spouse’s representation to ensure you obtain a settlement agreement that helps you pursue your short and long-term goals.

Prenuptial Agreements

A prenuptial agreement enables spouses to determine how they will distribute property in the event of a divorce and throughout their marriage. Spouses can also use prenuptial agreements to waive one’s responsibility for spousal support in the event of a divorce, unless the court deems the terms of the prenup “unconscionable.”

A prenup is a great way to ensure your marriage remains equitable. This type of agreement protects your assets if you and your spouse end up parting ways. Our attorneys are here to guide you through the process and make sure your agreement sets you up for success.

Postnuptial Agreements

Like a prenuptial agreement, a postnup enables spouses to determine how they’ll designate property during their marriage, divide it in the event of a divorce, or handle alimony should they part ways. If you recently married and realized that you want a marital agreement to cover your bases, our attorneys are here to help.

What Happens without a Marital Agreement in San Diego, California?

Without a marital agreement, your income, assets, and property will be subject to California’s community property laws. This means that any income you bring in during your marriage will be owned 50% by your spouse. Any property you purchase during your marriage using marital income will be owned 50% by your spouse. And any debts either partner gets into during your marriage will be 50% your responsibility. This is a general rule, however, and there are situations where things can become more complicated than this. Inheritance is generally considered separate property and any income earned from investments made prior to your marriage is generally separate.

Without a marital agreement in place, you might be limited in the amount of money and assets from your marital income you might be permitted to set aside for children from prior marriages. Without a marital agreement, you might also be limited in how you can use marital income. If you want to make a big investment, or start a business, or make a major purchase, you might need your partner’s permission if it involves more than 50% of your marital income or assets.

If you don’t have a marital agreement in place, you are basically leaving your marriage property rights up to California state law. Many people get married not even aware of the financial and legal contract they are getting into. With a marital agreement in place, you get clarity and control. You get to choose how to structure your marital finances. Some couples want to keep finances out of their marriage and want to keep their income and property separate. A marital agreement can allow you to do this. Other couples want to leave the door open to start a business, go back to school, or see major financial changes on the horizon, and want a marital agreement so that they can make these decisions with peace of mind.

Without a marital agreement, so many couples go into marriage unaware of the financial and legal contract they are signing. Marriage is a contract, after all. Rather than go into marriage not knowing, a martial agreement offers clarity and choice. Contact the San Diego, California marital agreement lawyers at Smith Family Law today to learn more about whether a marital agreement is right for you.

“Ironclad” Marital Agreements in San Diego, California: Are They Possible?

When it comes to matters of the law, nothing is ironclad. Everything is subject to interpretation under the law. Yet, there are ways that a marital agreement can be weaker or stronger depending on how you structure the agreement and how you go about entering into the agreement. Here are some things to keep in mind if you want to create a strong marital agreement.

• Transparency is Key. For a marital agreement to be valid, both parties must honestly disclose all their finances, debts, and assets. If you fail to disclose something, even in error, this could be seen as suspect by the courts or by a judge. Many marital agreements are crafted with the help of your financial planner and advisor who can review your portfolio and financial situation to help with disclosures. This ensures that your marital agreement is framed within the transparency required by law.
• Each of You Needs a Lawyer. Both parties should each be represented by their own lawyer. You should have your lawyer review the agreement before you sign it. A marital agreement is more likely to be accepted by the court, if the judge sees that both parties had their own independent representation and were aware of their rights and the contract they were signing.
• Timing Matters. You should work on your marital agreement before any invitations to your wedding go out. Ideally, as soon as possible after you get engaged. If there’s any sense that one party was coerced into the agreement, a judge could throw it out. So, no signing a marital agreement days before your wedding, or right after your spouse makes a big non-refundable downpayment on a wedding venue or on tickets to your honeymoon.
• Don’t Include Prohibited Provisions. A marital agreement can include protections for separate property, provisions about spousal support (whether it will be paid or waived, and how much will be paid), and clarity about debt ownership and payment. Yet, couples including waivers on spousal support need to be cautious about this. If a waiver of spousal support will leave one partner destitute or if the waiver is deemed unfair by a judge, your marital agreement could be found unenforceable. A San Diego, California marital agreement lawyer can help you navigate this delicate topic. You also cannot include provisions about child custody or child support, and you cannot include “lifestyle clauses” on things like allocating chores or consequences for infidelity. Including prohibited provisions could put you at risk of having the whole agreement rendered invalid. Your San Diego, California marital agreement lawyer can help you put together a sound marital agreement that avoids some common pitfalls.
• One-Sided Agreements are Generally Unenforceable. If your marital agreement benefits the wealthier spouse or only benefits one spouse, the agreement is less likely to be enforceable. Power dynamics and financial imbalances must be addressed honestly and fairly.

There are other important limits on the enforceability of a marital agreement in San Diego, California. For example, if one spouse becomes disabled or ill, waivers of spousal support could be deemed unfair by a judge, even if they were seen as fair when the contract was written. A marital agreement cannot protect a spouse from certain debts and responsibilities, for example, child support, unpaid taxes, and debts in both partner’s names.

A San Diego, California marital agreement lawyer at Smith Family Law can help you with drafting your marital agreement. While there’s no such thing as an ironclad prenup or ironclad marital agreement, your marital agreement attorney at Smith Family Law can help you craft a marital agreement that is fair, sound, and more likely to stand the test of time and your marriage. A marital agreement often must account for divorce laws, marital laws, family law, and even estate planning laws. Having a marital agreement lawyer on your side before you sign a San Diego, California marital agreement can make a difference. Contact Smith Family Law today.

Talk To One Of Our San Diego Attorneys About A Marriage Agreement

To work with an empathetic, experienced legal team who can guide you through the process of obtaining an agreement for your marriage, contact us online or via phone at (619) 431-3131.