Dear Clients and Friends,
Now that the U.S. Supreme Court has legalized same-sex marriages throughout the country, many gay couples who have lived together for many years are getting married.
And while every engaged couple should at least give some thought to a prenuptial agreement, it is even more important for engaged to be married same-sex couples.
Here’s why: When a couple gets divorced and a judge divides their property, the judge takes into account the length of the time that the parties have been married.
Assets that were acquired during the marriage will be divided equally, and assets that were owned at the date of marriage will be held to be separate property.
For example, a couple that has been married for 20 years will have acquired during their marriage most all of their assets, and their divorce decree will reflect an equal division of most all of their assets and debts.
At this time in history, this is not the same for a gay couple that have been together for 20 years.
This is so because for perhaps 17 of those 20 years these same-sex marriages were illegal and the Courts, if left to their own devices, will determine that perhaps 85% of these couples acquired assets and debts will be dealt with as separate property.
For this reason, same-sex couples wanting their entire relationship to be treated as the equivalent of a marriage need to work around the current, default scene as it does not work for them.
Therefore, these couples should have a prenuptial agreement to this effect.
If you, or others that you know, have an interest or questions on this – or on any other family law concerns – you are each invited to call us (310) 550-0110 for a free phone evaluation of your matter.
Best,
Ron