Asset Protection

Protect your Assets by having a prenuptial agreement (prenup) and/or a trust in place. They each have their purposes and work in tandem for maximum protection.

Prenups

Every couple who gets married in California has a prenup, though they probably don’t realize it. The prenup is called “California Community Property Law.” That is the default prenup the state of California has written for everyone in California. However, the default might not suit you. You and hopefully your spouse to be, will want a custom-made agreement that address your needs and concerns – this is when you need an experienced family law attorney to draft one for you. 

Warning: Do not attempt to do on your own. There are many technical and procedural requirements that change now and then, most recently in 2020. If you fail to follow these requirements with absolute precision your whole agreement will be void and you will have the California’s default prenup. 

Trusts

Living trusts, both revocable and irrevocable, are great asset protectors. (They may not be able to protect you from spousal support though). Unfortunately, there are still many people out there who are just averse to having to sign a custom-made prenup. They think it is not romantic and will jinx the marriage or whatever. Having your business, and other assets that are important to you put in trust will protect them without the need for the prenup. This prevents all the potential backlash, arguments, hassles and the like from bringing up the idea of a prenup. If you are one of the many people like this, a trust may be for you, but remember your trust won’t protect you from spousal support.