Prenups: Not Just for the Rich and Famous

Prenuptial agreements have long been associated with wealthy celebrities looking to protect their assets in case of divorce.

However, according to Holly J. Moore, Founder of Moore Family Law Group, prenups are not just for the rich and famous. In a recent interview, Moore shared her insights on how prenups can benefit people from all walks of life and why they should be considered by more couples.

Moore points out that a common misconception about prenuptial agreements is that they only address existing assets.

In reality, prenups help couples characterize and label future assets and debts, providing a clear roadmap for handling finances in the event of a divorce. This proactive approach can save couples from unnecessary emotional turmoil and costly legal battles.

Prenups can also address more unusual assets, such as thoroughbred horse sperm.

"I once had a set of clients who raised thoroughbred horses and wanted to characterize how they would handle future horse sperm as an asset in the event of a divorce since it's an asset that can be sold and has value," says Moore.

Many people might think of the prenup clauses they've seen in the media about things like maintaining a weight, frequency of intercourse, or infidelity. However, Holly J. Moore says those are illegal and unenforceable, prenups can still provide a solid legal foundation for dealing with various assets.

As a family law attorney, Moore sees firsthand the emotional and financial toll that divorce can take on individuals. She encourages people to approach their divorce and litigation strategy as they would an investment, considering the potential return on their efforts.

Couples who enter into prenuptial agreements are more likely to handle their divorce in a rational, level-headed manner. By having a clear understanding of how assets and debts will be divided, they can avoid the kind of petty arguments that can quickly escalate legal fees, such as the infamous Keurig coffee machine dispute Moore recounts from her time in court.

"One time I was in court, and the people started talking about the Keurig. Knowing my current rate, I know if we're talking about this for more than two minutes, you're already in the hole," says Moore.

While a Keurig is an example of what can draw out a divorce proceeding, they're not the underlying reason for prenuptial agreement. Prenups are meant to help couples understand their rights regarding specific assets that they will acquire in the future.

For example, many people may not be aware that they are entitled to reimbursement for a down payment made on a marital home using pre-marital funds. By outlining these details in a prenup, couples can ensure they receive what they're entitled to in the event of a divorce.

Moore also discussed the issue of domestic violence in family law cases, highlighting the low standard for obtaining a restraining order in California. She explains that her firm often defends clients against frivolous restraining order requests, which can have severe consequences on child custody and visitation.

"It's terrible because anybody can get these orders, and then they clog up the system," says Holly J. Moore.

As Moore states, family law should be practiced ethically, tastefully, and compassionately. By considering a prenuptial agreement, couples can avoid much of the emotional distress and financial strain that often accompanies divorce proceedings. In the end, a well-drafted prenup can be a valuable investment in the long-term well-being of both partners.

By addressing future assets and debts, outlining the division of property, and clarifying legal rights, prenups can provide couples with the peace of mind they need to enter into marriage confidently.