Many Russian couples today prefer to sign a prenuptial agreement before committing to a marriage. It is important to note that a prenup has its own merits and demerits. Also, it is also important to understand that the decision whether to agree on a prenup is entirely subjective; each couple and their circumstances are completely different and unique. These unique circumstances should be considered before coming up with a sound decision. Be certain to utilize the services of a San Diego Russian family attorney you can trust.
However, this write-up will look at a prenup from various dimensions before coming up with a conclusion. Is a prenup right for you?
Advantages to a Prenup
– Keeping an accurate record of each partner’s property for protection as a separate entity
– Avoiding court involvement in matters of divorce to distribute or allocate property and other assets
– Distinction between marital and communal property
– Detailed documentation of any special arrangements between spouses
– Avoiding time-consuming court sessions, which can be expensive in legal and divorce fees, as well as attorney fees
– Establishment of rules and procedures governing any issues that night arise after that
– Minimizing conflicts in the event of a divorce
– Avoiding sharing debt liability accrued by a partner before marriage
– Can be uncomfortable when discussing issues involving debt, finance, and property
– Discussing property, finance, and debt can dull the relationship in one way or another
– Some estate laws may cover the issues of interest in a prenup, making it unnecessary for couples to discuss the matter
– A prenup does not cover child support and custody matters. Calculating child support can be left to the court to make the decision.
– Excludes important personal preferences such as the individual to assign specific house chores, what schools the children will attend, and where to go to for a holiday vacation.
– Prenups are solely meant to discuss financial matters only, and may not touch on any private domestic matter that may arise in the process.
Is a Prenup Right for You? How to Decide
With pros and cons in the palm of your hand, it is now time to make a decision. However, this is the time to look at your specific situation or circumstance carefully. To begin with, establish whether you possess/ own real estate. Secondly, determine whether your assets are worth more than $50, 000. Then, assess whether your annual income is more than $100, 000. Ownership of a business or part of it, having more than a year’s worth of pension or retirement benefits, and stock options or other employment benefits are also important factors to consider.
If any of the factors mentioned in the above paragraph refers to your situation, then a prenuptial agreement is something you would want to consider. While signing a prenuptial agreement or discussing it can be uncomfortable and unromantic for partners before marriage, it is important to discuss financial matters beforehand. It might reduce or kill the romance, but failing to do so is a disaster waiting to happen. Is a prenup right for you? Well, the answer is that it depends on with your situation. Speak with a family law attorney before making and critical decisions that may affect your future.