Articles Posted in Premarital Agreements

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How Do I Create a Prenuptial Contract?

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Prenuptial contracts can provide marrying couples with substantial advantages and financial security. Unfortunately, these contracts have negative connotations for many people, most of whom believe that the suggestion of a prenuptial contract is an indication of a lack of faith in the success of the relationship. The reality is that prenuptial contracts can provide financial security to marrying spouses, especially those who have financial obligations to children from previous marriages, those who control substantial assets, and those who want to protect themselves from their spouse’s debts.

Creating a prenuptial contract is relatively simple; the difficulty lies in the scope of the contract and the complexity of the issues included in the contract. There are many tools and software applications available that can help you draft your own prenuptial contract, but ultimately it is always best to work with an experienced family law attorney to ensure your contract is fair and enforceable.

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Is an Annulment Right for You?

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Ending a relationship, especially a marriage, is never easy. Depending on the circumstances, it can be rather messy. When involved in a legally binding marriage, there are a few options to consider for ending that legal contract. For many, this path is divorce. For some, this path may be an annulment. It can be challenging to have an annulment granted, so it is crucial to speak with an attorney to help you understand if this is the appropriate route for you. There are limited reasons that qualify for an annulment, and you’ll have to provide adequate evidence to do so. You will also potentially face a statute of limitations, which will put a deadline on your ability to file. An experienced annulment attorney such as the attorneys at Bickford Blado & Botros can guide you in this process.

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Misconceptions of Signing a Prenup

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Getting married is one of the most exciting life events. You’ve decided to settle down with a certain someone, and you’ve committed the rest of your future to that person. Marriage is not only the union of the two individual people but also a union of every different element of your lives, including property, finances, and general way of life. Before heading down the aisle, you may want to consider having a prenuptial agreement on file. While it may not be the most romantic aspect of your wedding planning, it will set up both parties with a secure understanding of what would happen if things ultimately don’t work out. When it comes to having a prenup, many common misconceptions influence making this important decision.

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Can Premarital Agreements Be Broken?

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The purpose of a premarital agreement is fairly straightforward—to provide guidance for how a separation should be conducted if a marriage ends in divorce. Due to its nature, most couples don’t think much of such agreements unless they are actively considering a legal separation. At that moment, it can be incredibly relieving to have such details outlined in advance, especially if the situation between you and your spouse has become contentious. However, depending on the terms of the agreement, there may be questions about whether everything outlined is still relevant or enforceable. To fully understand the limitations of a premarital agreement and under what circumstances the contents may be voided, it’s important to familiarize yourself with a little background regarding what these agreements are and why they exist.

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In many ways, a divorce can seem, and typically is, final.  It requires the filing of a judgment, a judge’s signature, and a marriage that is no longer the same.  But what happens when a party files for divorce and then changes his or her mind?  Or, what happens when a couple finalizes their divorce and then reconciles?  This blog will explore the consequences of these non-traditional relationships.Cartoon red heart with patch on the crack. Cute and friendly character with eyes and smile

First, let’s consider what happens when a party files for divorce but then changes his or her mind and wishes to withdraw the petition for dissolution.  In California, there is a 6-month statutory waiting period before any divorce can be finalized- and this scenario is exactly why.  Sometimes a couple is going through a rough patch and a spouse will file for divorce prematurely.  After discussing and working on their relationship the couple no longer wants to go through with their divorce.  So, what happens? Continue reading

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The infamous comedian-actor Robin Williams once said, “Divorce is expensive.  I used to joke they were going to call it ‘all the money,’ but they changed it to ‘alimony.’”

Alimony, or more commonly now called spousal support, may be awarded to either spouse during the pendency of a divorce proceeding, or in some cases after Judgment has been entered.  There are two types of spousal support: (1) Temporary; and (2) Permanent. Continue reading

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In this era it is hard to meet any young adult who does not have some amount of debt, with the most common form being student loans.  These loans can be hefty, as college, graduate school, and living expenses are incurred.  But what happens when you marry, and then separate from someone who has student loans?  Is the community entitled to any reimbursement for helping pay those loans down during the course of the marriage?  Does it matter if the loans were incurred during marriage or before marriage?  The answer is, it depends. Continue reading

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puzzle-3223941_1280-300x182Whether you are getting ready to file for divorce, or already have, you probably have seen or heard the words “community property” and “separate property” many times.  These are common family law terms that parties will need to understand throughout their proceeding for dissolution.  Pursuant to Family Code section 760, “Except as otherwise provided by statute, all property, real or personal, wherever situated, acquired by a married person during the marriage while domiciled in this state is community property.”  This statute is followed by Family Code section 770, which states, “Separate property of a married person includes all of the following: (1) all property owned by the person before marriage, (2) all property acquired by the person after marriage by gift, bequest, devise, or descent, and (3) the rents, issues, and profits of the property described in this section.” Continue reading

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Earlier this year, Amazon tycoon Jeff Bezos announced his divorce from wife MacKenzie after 25 years of marriage and four children together.  The couple met and married before Jeff founded Amazon.  Jeff, who has a reported net worth of nearly $157 billion is the world’s richest man.

The couple, who allegedly did not have a premarital agreement, reside in Washington state.  Washington is a community property state similar to that of California.  That means that generally all assets and debts acquired during marriage will be divided equally.

Despite the couple’s massive estate, the couple finalized their divorce in July 2019, just 7 months after making the announcement.  MacKenzie Bezos will get, amongst other property, 25% of the couple’s Amazon stock, an amount equal to roughly $38 billion.  This stake in Amazon makes MacKenzie the third richest woman in the world.  https://www.businessinsider.com/jeff-mackenzie-bezos-divorce-official-settlement-38-billion-2019-7 She has promised to donate at least half of her fortune to charity!

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Tracey Hejailan-Amon’s husband Maurice Amon filed for divorce in Monaco in October of 2015. Tracey then filed for divorce in New York. About a year and a half later, the parties are still arguing over which court has jurisdiction over their divorce. Why? Because Monaco’s divorce law allows spouses to take back gifts that were given while married. It appears that New York law, on the other hand, provides that gifts stay with the receiving spouse even after divorce. And the Amon’s divorce is not your typical one. The “gifts” that the parties are fighting over amount to about $70 million dollars!! Continue reading

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