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Focused on reducing the emotional and financial toll to your family.

Offering divorce and family law options to fit
your needs, and focused on reducing the emotional
and financial toll to your family.

Financial planning and the possibility of divorce

California couples who are planning to get married might want to consider a prenuptial agreement. If they are already married, they may want to consider a postnuptial agreement. Both of these can help protect people financially in a divorce. While some people might think these types of agreements indicate a cynical approach to marriage, one financial planner points out that financial precautions are no different from safety precautions such as wearing a seat belt.

Even if a couple already has or does not want a prenup or postnuptial agreement, there are other steps they can take to protect their finances. Even couples who primarily share a joint account may want to consider also having their own separate accounts for managing any separate property. For example, if a person receives an inheritance and does not wish to mingle it with marital property, it should go into the individual account. If the inheritance is a piece of property such as a home and the person needs to renovate or make other changes to it, those funds should come from the individual account.

People going into the marriage with assets such as a business might want to have its value appraised prior to the marriage. It is also important to keep records of transactions, inheritances and other financial matters.

In a community property state like California, for couples who do not have a pre- or postnuptial agreement, assets acquired since marriage are considered marital property. Therefore, if the couple does not have precautions in place and they get a divorce, the assets are supposed to be split equally even if they were primarily obtained by one person. The couple might use mediation or another alternative dispute resolution process to negotiate an agreement for property division, and this does not necessarily mean they must split all assets 50/50.

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Miller & Associates, Attorneys LLP
Miller & Associates, Attorneys LLP
6542 Lonetree Boulevard
Rocklin, CA 95765

Phone: 916-780-0848 
Fax: 916-780-0787
Miller & Associates, Attorneys LLP
2280 E. Bidwell Street, Suite 204
Folsom, CA 95630

Phone: 916-365-4941 
Fax: 916-780-0787

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