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Today’s society largely stays in touch over social media and other electronic means. Individuals may share a number of digital assets or may want to keep them separate. Knowing how digital assets will be treated and divided in the event of divorce or death can provide clarity to this issue. Prenuptial agreements can help safeguard digital assets.
Although couples do not enter a marriage with divorce in mind, a prenuptial agreement (prenups) can protect both parties and avoid a long, costly divorce process.
Traditionally, wealth was the driving factor behind premarital agreements; today they are commonly thought of as a financial plan that sets forth expectations in a marriage.
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We live in a culture where marriages are not always “till death do us part.” Although most engaged couples imagine that their marriage will be a lifetime of shared bliss and cooperation with finances, the truth is that approximately 20 percent of marriages end within five years and more than 30 percent end within 10 years. This is why it is important to consider all possibilities for the future before you get married...
Many times people enter into agreements before marriage that outline how property will be divided and what alimony arrangements will take place at the time of a potential divorce. These "antenuptial" or "prenuptial" agreements are often attacked when the couple eventually files suit to dissolve their marriage.
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Given the prevalence of divorce, prenuptial agreements are an increasingly popular way for people to protect assets in the event of a divorce. Most people believe that only celebrities have reasons to have a prenuptial agreement. However, prenuptial agreements are made for anyone that has any assets that need protection in case of divorce. Some agreements also address estate planning issues, alimony, asset management during the marriage and responsibility for debt. Entering into the agreement at or near the time of engagement is highly recommended. In this blog, we will explain the basics of prenuptial agreements by looking at California Family Code Sections 1612 and 1615.
...Many people turn to prenuptial agreements as a form of divorce insurance designed to protect them from the worst effects of a divorce. Celebrity Harrison Ford was not one of them, at least during his first marriage. As a result he was ordered to pay ex-wife and screenwriter Melissa Mathison $90 million during their divorce. More recent celebrities seem to have learned Harrison’s mistake and have reportedly worked some interesting provisions into their prenuptial agreements.
Jessica Biel & Justin Timberlake
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