Prenuptial Agreements: Protecting Children

Marriage involves not only a romantic commitment between two people, but establishes a powerful economic and legal relationship. The institution is designed to join the lives of two individuals, but may have consequences for their extended families. When preparing for marriage it is important to see that not only your personal interests but those of your children, grandchildren, and other family members are protected. If you would like to discuss the merits of a prenuptial agreement with a lawyer from our Los Angeles firm, Stolar & Associates, please contact our Beverly Hills office for a free consultation.

Your premarital agreement can save assets for your children

Premarital agreements are financial contracts, and are commonly used to see that a partner's property passes to his or her children or grandchildren in the event of death or divorce.

How a prenuptial contract functions if you should die: A will, although it is an important component of your overall estate plan, may not be enough to ensure that your home and other assets pass to your children, grandchildren, or another person named in the will. Under California law your spouse has a claim to part or all of your property after your death, even if your will states otherwise. A carefully drafted prenuptial agreement can, however, include a waiver of those inheritance rights.

How a premarital agreement functions if you divorce: Property you accumulate during your marriage, including retirement benefits, increased value in a closely held business, savings, and your home is community property. Any property you brought to the marriage and did not maintain as separate becomes community property also. The court will grant your spouse an equitable share of all community property in the event of divorce. However, you can ensure your assets will be preserved for your children. Distribution of community property and alimony can be designated in your prenuptial agreement.

Attorneys at Stolar & Associates serve clients throughout the greater Los Angeles area, including those in Orange County, Santa Clarita, Santa Ana, and Pasadena. Please call 310.288.1828 or e-mail our L.A. office to make arrangements for a free consultation about prenuptial and domestic partnership agreements.