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All income earned by either spouse during marriage is community property. If you like the idea of pooling income and acquiring assets together, you don’t need a prenup in a community property state.
For example, if we've been together for five years, there wouldn't be alimony, but at 10 years, a certain percentage would be given, and so on. Prenups aren't just for rich people
Gill gave the following example to illustrate this: “One spouse owns a house at the time of marriage and it is valued at $750,000. Later, at the time of divorce, the house is valued at $1.5 million.
A transmutation agreement is a postnuptial agreement that changes the character of the spouses’ property from community to separate, or vice versa. It may be used to change the character of property to be acquired in the future, as well as property that the spouses own at the time of the agreement.
A prenuptial agreement, antenuptial agreement, or premarital agreement (commonly referred to as a prenup), is a written contract entered into by a couple before marriage or a civil union that enables them to select and control many of the legal rights they acquire upon marrying, and what happens when their marriage ends by death or divorce.
A prenuptial agreement is a legal document that couples contemplating marriage use to lay out financial and other obligations that would come into play in the event of divorce or the death of one ...
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