Americans have heard the term “prenup” thrown around in celebrity and business mogul divorces, but it is a term that is not often discussed in the divorce of the average American. A prenuptial agreement may not be the first thing on one’s mind when planning to marry the one they love. However, just as the elite classes of the country do, having a prenup might not be a bad idea just in case one ever files for divorce from his or her loved one, especially for certain individuals in California.
An entrepreneur is a class of person who could potentially benefit from having a prenup. Since they have spent great time and effort to build a company, they would probably want to protect it from falling into the divorced spouse’s hands. Other people such as professional athletes who are expecting to get a large amount of money in the near future would also benefit from a prenup.
Frequently, the people who want prenups are those who have felt the financial sting of divorce in the past. Prenups have become more popular in recent years. In fact, a recent survey reported that from 2005 to 2010, 73 percent of family law professionals saw an increase in prenuptial agreements.
Some middle or working class American families may not benefit from making a prenuptial agreement. The point of a prenup is to make dividing assets simple upon a couple’s divorce, so if the couple does not have a lot of assets, a prenup may not be necessary. Couples planning to marry may want to consult with a professional in California family law to see if a prenup would be right for them.
Source: CNBC, “How to Know If You Need a Prenup,” Kelley Holland, June 18, 2013