Prenuptial agreements are a sensitive topic of discussion. A couple entering into marriage might not warm up to the idea in the beginning. Unfortunately, the growing number of failed marriages and ensuing ugly disputes makes such agreements all the more necessary. Once a couple has decided to sign a prenuptial agreement, the next task is to decide the division of assets. This can turn out to be unpleasant.
Ultimately, discussing a prenuptial agreement can lead to disputes between both the spouses. In such cases, mediation is an excellent way to reduce damages that can happen. Mediation is a form of conflict resolution used in law. A third party assists the spouses-to-be to come to a fair settlement. Such a person is called the mediator.
Mediation is possible
The first thing that a couple who has decided to move ahead with signing the prenuptial agreement should know is that successful mediation of the agreement is possible. Many couples are unaware of this fact. Mediation is an excellent way to resolve conflicts and it helps if the couples research about it by themselves or get the help of a competent attorney.
Mediation starts with people
It is important to sit with an experienced mediator to discuss the potential terms for an agreement first. Both parties need to keep in mind that they are getting married and while the terms in the agreement should be fair, it should also be decided upon mutual agreement and should be fair to both spouses.
Understand the law
Different states have different laws pertaining to prenuptial agreements. The mediator should make sure both parties are aware of existing laws. Divorce and inheritance should not become an issue in case the unthinkable happens. Mediators should provide legal information as to what can happen if one spouse inherits property and what it possibly means for the other spouse. Mediators cannot provide legal advice since they are not attorneys per se.
Understanding either spouse
A mediator should communicate with both spouses to understand any concerns they might have regarding the agreement. It’s important to understand their views on the agreement. Often, it happens that one party may not want to sign the agreement but is afraid to be forthcoming about it. It is important to address the concerns of such an individual and allay their fears. Each term on the prenuptial agreement should be discussed fairly and accurately and should be reviewed against the other terms to make it fair to both parties.
To learn more about the divorce process in California and how mediation can help, please visit our page, What is Divorce Mediation.
Once of the leading reasons people get into divorce is because of the monetary windfall the less privileged spouse can get from his/her wealthy counterpart. However, there have been legal methods developed to make sure financial benefits are not a motivator for divorce. One such act is the introduction of a prenuptial, also known as a pre-marital agreement, between the spouses at a sufficient time well before the wedding date.
What is a Prenuptial (Premarital) Agreement?
A pre-nuptial agreement is an agreement that the spouses have prepared weeks or months before the wedding. Simply put, this agreement outlines the number of assets or the percentage that either of the spouses will be entitled to in case of divorce. Such agreements tend to allow the wealthier spouses to keep hold of much of their estate, instead of having to share considerable chunks of it with their spouses.
Advantages of Prenuptial Agreements
Over the years, with the number of wealthy people increasing, the use of prenuptial agreements has become more of a norm rather than an exception. Here is a list of a few advantages of getting into a prenuptial agreement.
· A Prenuptial Agreement Can Protect Financial Stability
This is the primary reason most people want a pre nuptial agreement in the first place. In cases of divorce that are run and tried for in the Orange County family law courts, the law wants the assets owned by either of the spouse to be shared among both the spouses. This would be a disadvantage to you if you’re the party with the larger number of assets. Once you get into a pre-nuptial agreement though, you are better able to protect your assets.
· Reduces Unnecessary Conflict
When it comes to divorce cases, there are large number of conflicts that can develop between the spouses owing to monetary disagreements and problems with asset distribution. This not only will stretch the divorce case further, but is also likely to have an adverse affect on the children that are part of the marriage.
When spouses get into a pre nuptial agreement, they are already deciding on the percentage of asset distribution and what each spouses will be entitled to after divorce. Once a prenuptial agreement has been signed, both the spouses will be aware of their worth and the assets that they will have a control over if the relationship ends. Knowing this would not only deter the divorces done to gain ample money for them but also help in little asset distribution conflicts among spouses in family law courts.
To learn more about the divorce process in California and how mediation can help, please visit our page, “What is Divorce Mediation.”
One of the most difficult issues to deal with in any divorce proceeding is the division of martial property. Typically the biggest question is what is to happen with the house, a question that may trigger sparring matches between the divorcing couple.
Further complicating a sale may be the presence of a third party in the marriage break-up, which destroys what trust the divorcing couple may have had. The spouse who was cheated on may wish to make things difficult for the cheater. They may make it harder to show the property or withhold disclosure on any issues the house may have – such as structural or water issues. Even if a spouse has children and they want to retain the home, they may not be able to afford to maintain it.
Another point of contention may be overpricing the home in order to attain financial security and thus delaying a potential sale until the price of the property has been adjusted downwards.
In California, if the house is owned jointly, both signatures are required to sell the home. However, only one spouse needs to sign a listing agreement to put the house on the market. In a number of cases, the individual wanting a divorce wishes to get the property listed for sale quickly, to move on with their life or even buy another, smaller home. The person who did not want the divorce may be conflicted about selling, wishing to keep the home for the sake of any children involved. With two different points-of-view in play, things can get difficult and make it harder to get any offer accepted.
Couples with an existing prenuptial are likely to have an easier time with property division and the sale of the home, as most include instructions on how property is to be allocated, should the marriage dissolve. Nonetheless, one partner or the other may not wish to honor such an agreement because they are angry. In such cases, even a valid prenuptial may end up being challenged. However, if it is a solid document, the issue may be resolved according to the fact of the case.
To learn more about the divorce process in California and how mediation can help, please visit our page, “What is Divorce Mediation.”
Prenuptial agreements are a sensitive topic of discussion. A couple entering into marriage might not warm up to the idea in the beginning. Unfortunately, the growing number of failed marriages and ensuing ugly disputes makes such agreements all the more necessary. Once a couple has decided to sign a prenuptial agreement, the next task is to decide the division of assets. This can turn out to be unpleasant.
Gerald A. Maggio is a trained Orange County divorce mediator who has amicably resolved cases many cases out of court, as well as an experienced divorce and family law attorney. Mr. Maggio founded California Divorce Mediators in 2012 with the belief that although “not every marriage can be saved, every family can” and a mission to save families from the financial and emotional distress associated with traditional divorce litigation. California Divorce Mediators is located in Irvine, California, and serves the Orange County area and other counties in California offering divorce mediation, child custody mediation and mediation of other family law matters. 
