Prenup Agreement in High Net Worth Marriage
/0 Comments/in Family Law /by Lonich Patton Ehrlich PolicastriAs common as they are, the potential of a divorce is something that engaged couples often don’t wish to discuss. Although, it may sound pessimistic to discuss prenup agreements, high net worth individuals may want to consider a prenuptial agreement so that a potential division of property later down the road is less stressful.
Who Should Consider a Prenup Agreement?
High net worth owners are highly advised to create a prenup agreement as they have more at stake in the event of a divorce. Additionally, business owners are encouraged to consider prenup agreements as well, as the division of a business is often a complex and contentious issue down the road.
Oftentimes couples sign prenup agreements not because they foresee a divorce happening, but because they want to quell family concerns regarding the distribution of assets down the road. Prenup agreements can also protect assets in the event of untimely death and may redirect funds to dependents or other family members.
What Are the Benefits of a Prenup Agreement?
As unromantic as it sounds, couples who at least discuss the option of a prenup often report that they feel eased by being proactive with considering their future. Sometimes the burden of a potential stressful divorce down the road can cause people to become anxious about marriage and can cause unwanted stress. Signing a prenup doesn’t mean that you want or anticipate a divorce, it simply means that you are aware that they are common and want to be proactive with making the distribution of assets less stressful for you, your partner, and your loved ones.
What Is the Process Like of Creating a Prenup Agreement?
As opposed to many divorces, creating a prenup is typically an unemotional process, similar to a business transaction. While it is significantly less stressful than most divorce proceedings, it is just as meticulous of a process. It is highly advised that both you and your partner hire an estate planning attorney so that you can ensure the agreement is fair and will distribute assets as intended. Additionally, it is highly recommended that partners be transparent about their assets and potential inheritances, as this will ensure that property is not overlooked.
How Do I Talk to My Partner About Creating a Prenup?
Although prenups are becoming more common, with an increase in the number of millennials signing prenup agreements, it is not an easy conversation to have. It is important to approach the subject with thoughtful consideration of the timing, place, and wording.
With any legal agreement, it is important, to be honest. Mentioning that it has always been something that was important to you and your family before you met your partner, or that you are following the advice of friends who have experienced a terrible divorce may help your partner have empathy for your request. It is also helpful to address the fact that a prenup agreement is significantly less timely, costly, and stressful than a complex divorce proceeding.
Approaching the agreement as equals is recommended. When both partners are involved with the creation of the prenup, there tends to be less concern and animosity with the legal agreement. Additionally, it is important to remind your partner that a thoughtful prenup benefits both partners as it reduces financial uncertainty for both parties. While it may temporarily create tension, many couples find that once they come to an agreement, they are able to move forward in their relationship.
If you would like to understand if a prenup is in your best interests, contact LPEP, an estate planning and family law firm in the Bay Area. Our team of dedicated professionals are committed to protecting your assets and have the resources you need to assist you with creating your prenup agreement.
How Is Paternity Determined In California?
/0 Comments/in Family Law /by Lonich Patton Ehrlich PolicastriThe issue of paternity is complex and the laws surrounding it vary state by state. If you are a father or couple who are seeking to determine your parentage in California, you may be wondering what your next step should be. What is a paternity test? How do you get tested? In California, there are three ways you can go about establishing paternity.
Go To Court
When parents think of determining parentage, this is typically the method they think of. This also tends to be the hardest method to determine paternity. If a child’s mother is trying to prove the parentage of a child, and the other parent is denying their paternity, a mother can go to court to establish it. Alternatively, if an alleged father wants to prove their paternity to have rights to custody of a child, they can also go to court to establish parentage.
When going to court, the judge will order a genetic paternity test.. If the alleged father refuses, the noncooperation can be considered evidence of parentage.
To go to court, you must fill out and file several legal documents. These are complex and require a trained eye. Please consider hiring an experienced paternity attorney. LPEP Law serves the greater Bay Area. Set up a free consultation with them here.
Get The Child Support Agency To Determine Paternity
The local child support agency has a right to ask the court for an order on paternity, just as the child’s mother or alleged father does. Having the child support agency provide this service for you is free and can take some of the stress off yourself. In addition to establishing parentage, they will also file for a child support order.
You can obtain these services by calling the local child support agency and setting up an appointment to open a case for paternity and support. If a father denies being the parent of a child, a mother can even open a case while still pregnant for a genetic test to be administered after the child is born.
If a parent is on welfare for the child, the child support agency will automatically open a case for paternity.
Sign A Voluntary Declaration
A declaration of parentage is a legal document that parents sign to claim themselves as the legal parents of a child. It is always voluntary. This document is usually signed by both parents in the hospital after a child is born. However, in cases where this didn’t happen, the declaration can still be signed as long as certain rules are followed.
For a declaration to be signed outside of the hospital, there are only certain public locations that the form can be signed at. The form must be signed in the presence of the local child support agency, the welfare offices, the Registrar of Birth, the local superior court, or the local family law facilitator. You can find your California family law facilitator here. The form must then be filed with Child Support Services to go into effect, and then it holds the same weight as a court order establishing parentage.
After the declaration of parentage is filed, orders for custody and visitation can be filed by a judge. The Court can also make orders for child support. A voluntary declaration of parentage grants both parents who signed it an equal right to custody, but also means they both have a responsibility to support and provide for the child. To learn more about voluntary declarations of parentage in the state of California, visit here.
When You Don’t Need A Paternity Case
There are certain instances in which you don’t need a paternity case in California. These include:
- An unmarried couple signs a voluntary declaration of paternity.
- You are married to the other parent. (This applies to same sex marriages and heterosexual marriages alike).
- Two parties in a DVRO case agree to paternity of a child and the court entered judgement about paternity.
- The child support agency filed a paternity case.
If you live in the State of California and are curious about starting a paternity case, get in touch with our San Jose, California attorneys today. Get questions like “what is a paternity test?” answered. We can help you with the complex paperwork that comes with going to court and can help ensure the process goes smoothly. We offer free 30-minute consultations with our experienced team of attorneys. You can set up your free consultation here. To learn more about paternity, visit us here.
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Located in San Jose, Lonich Patton Ehrlich Policastri handles matters for clients in northern California, specifically San Jose and Silicon Valley. Our services are available to anyone within the following counties: Santa Clara, San Mateo, Contra Costa, Santa Cruz, Monterey, and San Benito. For a full listing of areas where we practice, please click here.
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