A prenuptial agreement (also called a premarital
agreement or prenup) can help lay out understandings of property and earnings, particularly in a community property state like California.
A premarital agreement, if done right, can overcome the community property presumption, and spell out who owns which items that wil remain the separate property of the husband or wife. In a society where 50% of all marriages end in divorce, it makes good common sense to agree how the property will be divided if and when things don't work out.
This can be very helpful if one spouse is approaching marriage with significantly more assets than the other, and wants protection. These assets can be a business, a house, property or other things... all which can be spelled out in the prenup.
Prenuptual agreements can also say how property is divided in the event of a divorce. A well-written prenup can address things like joint checking account, which accounts will pay for what expenses, and even address support and custody issues if a divorce or dissolution should occur down the road. This could make things much easier if and when there is a splitting up rather than fight for everything. But it really should be done by an attorney so that it can be bullet-proof to withstand a challenge.
A prenuptual agreement is a valuable contract when approaching marriage and the asset distribution is unequal. It can make the spouse with assets feel protected and remove strains from the new marriage.
Contact an attorney who is experienced in prenupial agreements and prenups.