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Prenuptial agreements ("prenup") are the subject of many television dramas, and there are many misconceptions surrounding them. Many people think a prenup is to protect the spouse with more assets should there be a divorce. While this could be one use of a prenup, they can be used other ways as well.
Prenups can define who had what coming into a marriage so there is no confusion. They can also define what happens with a spouse's income--does it become community property (subject to a 50/50 division upon divorce) or does it stay separate property (not divisible upon divorce).
Prenups can modify or destroy other rights incident to marriage, such as making medical decisions, inheritance rights, and many others. Prenups are not permitted, however, to address child custody or child support. Very often, prenups do address alimony.
If you need a prenup drafted or if you need one reviewed that the other spouse had drafted, Peter can assist you through this process.
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