A prenuptial (premarital) agreement decides divorce issues before marriage. A valid prenup modifies California community property rules, ensuring that separate property owned before marriage remains separate, modifies the assets acquired during marriage, and limits spousal support.
To enforce a prenuptial agreement it must comply with California law. These requirements are numerous and complicated but it must include a signed writing of the agreement. If a prenuptial agreement was signed during marriage it is best to consult an attorney to determine if the agreement is legally binding.
The prenup is used procedurally in a divorce as evidence supporting the property characterization listed on the divorce forms.
CALIFORNIA PRENUP FAQ
Should I have my fiance sign a prenuptial agreement?
- When balancing the need for a prenup consider the long-term financial position the divorce laws will impose upon you if you chose not to come to an agreement defining your rights before marriage. Are you willing to give up what you will earn during the marriage and continue to support your spouse even after the love is gone? California is a “no-fault state” which means that a spouse can have multiple affairs, file for divorce, and still collect support and property. Balance that terrible possibility with the hurt feeling your spouse will encounter when she assumes you don’t really think your marriage will last.
How will my fiance react if I ask for a prenup?
- Asking for a prenup translates to “I don’t think we’ll last forever and I don’t want you taking any of my money.” Unfortunately business and romance are intertwined once the couple has married, making the negotiation of a prenup based on fears of anticipation of divorce an akward situation. Explain that you would like to determine your own destiny instead of leaving it in the hands of the legislature and court.
My fiance suggested that we have a prenup, what should I do?
- First, understand that divorce laws protect the spouse in a weaker financial position upon divorce. The State views a marriage as a business partnership with everything earned equally shared. Thoroughly understand the agreement and get assistance from an attorney if necessary.
What is in a prenup?
- A prenuptial agreement contains numerous complicated legal clauses and should be drafted with the assistance of an attorney. However, in general a prenup includes the following:
- Explanation of property laws concerning marriage
- Identification of property interests – I own this. He owns that.
- Separation of expenses – You pay for X.
- Determining ownership for future property – My pension is mine.
- Disclosure of current property interests – This is what I currently have.
- Tax issues
- Does NOT address child support
- WARNING: as of this writing the Supreme Court is reviewing important spousal support addressed in premarital agreements.
Should I used a prenuptial agreement downloaded off the Internet?
- If attorney fees are not a concern, then absolutely not. A court deciding whether to enforce a prenup will examine more issues than the agreement itself. For example the court will determine if the agreement was signed under duress or undue influence. The court is looking for more than a spouse who signed a prenup minutes before walking down the aisle. If you care enough about your finances to have a prenup then spend the money to ensure that it will be enforced by hiring an attorney to at least review the agreement.
How much does a prenup cost?
- Prenups of varying quality and sometime suspect validity are available on the internet for free. An attorney will typically charge $500 at minimum and several thousands for complicated estates.
Is the prenup valid if we leave California?
- Yes, typically with some policy exceptions.
Comments are closed 