Post Nuptial Agreements

I recently read an article on Yahoo Finance on postnuptial agreements. As unromantic as it may sound, it is a fact that a majority of marriages end in divorces, and a lot of the post breakup mess can be avoided through professional pre and postnuptial agreements. Surprisingly, when I discussed this issue with my San Diego Family Law Attorney, I understood that postnuptial agreements are the ones which are rising in popularity.

It did seem counterintuitive to me, so I went and read the article again. It seems that in the poll of members of American Academy of Matrimonial Lawyers (AAML), post nuptial agreements are rising. I know of a San Diego divorce lawyer who suggests that any dramatic change in status (be it sudden wealth like inheritance) warrants a postnuptial agreement. So do I see a rush for drawing up, especially in big cities like Los Angeles and San Diego post nuptial agreement?
But does a written document increase or reduce the stress of married life? You will get your answer based on who you ask.

As per AAML President Gaetano Ferro (Guy), “Post nuptial agreements, where valid, can be a good tool for addressing and solving problems spouses might be experiencing in their marriage, and having a written document with expectations and obligations clearly set forth reduces the areas of disagreement for spouses and can remove a good amount of stress from everyday married life.”

Among the strangest items included in some postnuptial agreements, AAML members have noted: limits of the future number of children, provisions for pet visitation and care, and the dividing up of cemetery plots in the event of divorce.

Do you agree with this? Do let me know your views.
Source: "America's Top Divorce Lawyers Cite Postnuptial Agreements as Growing Trend" at Yahoo! Finance.

Disclaimer: This blog or article is for information purpose only, and should not be treated a professional advise or price protection guarantee. This blog is mainly used for search engine optimization and other commercial purposes and it is advised that readers seek professional consultation in the field of interest for more information.

Division of Assets & Debts in San Diego California

As part of a San Diego divorce action, usually the court will decide how to divide your property and debts, both real property, like your house, and personal property, like your cars and furniture, and all the outstanding debts. California is known as a "community property” state. What that means is that property acquired and debts incurred during marriage is presumed to be community property and debt.

Aside from matters regarding children, division of assets is often the issue that creates the most fervent disputes during divorce proceedings. During marriage, a couple’s finances become greatly intertwined with one another, so separating them can be extremely frustrating and time consuming. Splitting finances, property, assets, and debts is a process which must be mediated by an outside entity, such as San Diego family law courts & judges.

The first step in San Diego property division is determining what community property is and what constitutes separate property. Separate property can include gifts, inheritance, personal injury settlements, pensions acquired before marriage and a separate property or business in one’s name. Although, separate property can sometimes become mixed with community property, and that almost always complicates an already complex situation.
Often, the most common types of community property that become issues during divorce include family homes, pensions acquired during the course of the marriage, family businesses, and any jointly owned property that cannot be clearly identified as separate.

These properties often take quite a bit of time to process and if they are not distributed equally, the court can sometimes mandate that they be sold in order to compensate for the inequity of asset distribution. It's equally important that all the outstanding debts belonging to both you and your spouse or to both of you jointly are divided as well, both secured and unsecured. This is community debt, which means that you are liable for and will be awarded ½ of the debt (or the equivalent) in the distribution of the community estate.

If you and your spouse can agree on how to divide your property, each representing San Diego divorce attorney will write up a formal agreement called a “Marital Settlement Agreement.” Detailed lists of who gets what will be included in this agreement. The issues of child custody and visitation, child support and spousal support, division of community debts and other related issues also are generally included in the agreement.Read the Marital Settlement Agreement carefully, and ask your San Diego divorce lawyer about anything you don't understand. Once you've signed the agreement and it's been approved by the court, it will be extremely difficult and expensive to try and change it.

Disclaimer: This blog or article is for information purpose only, and should not be treated a professional advise or price protection guarantee. This blog is mainly used for search engine optimization and other commercial purposes and it is advised that readers seek professional consultation in the field of interest for more information.