California Prenuptial Agreement Attorneys
The rules of property division in California can be very complex and confusing. As a community property state, marital assets acquired during marriage are divided equally in a divorce, unless a prior agreement has been executed by the husband and wife. In a prenuptial agreement (also called a premarital agreement), both parties may agree on how assets are distributed if unexpected events occur, such as divorce, death or disability, as long as neither takes advantage of or defrauds the other. If you and your intended spouse are considering a prenuptial agreement, you should contact an attorney before the marriage. At Russakow / Greene & Tan, our experienced family law attorneys will provide you with the advice and guidance needed to ensure that a premarital agreement is fair, properly filed, and conforms to California guidelines.
What is a Prenuptial Agreement?
A prenuptial agreement is an agreement entered into by a couple prior to marriage that addresses the ownership, management and control of property; and the distribution of property if the couple separates, divorces, or if one party dies. The agreement can also cover such issues as alimony, wills, trusts, and life insurance beneficiaries. Almost anything can be included in a prenuptial agreement. As long as the terms are fair to both parties and the agreement was freely signed by both parties, the court will not normally set it aside.
Why use a Premarital Agreement?
The advantages to using a prenuptial agreement are numerous. Some examples include:
- You will know exactly how your property will be divided in the event of separation, divorce, or death.
- You can protect yourself from debt that your spouse has acquired.
- You can arrange for custody and inheritance rights for your stepchildren.
- It allows couples to define their marital arrangements on their own terms, rather than subjecting them to California’s community property laws.
- In a family business, it allows you to keep your business assets and debts as separate property.
- It allows you to protect assets in the event the marriage does not work out, which is very important if children from a previous marriage are involved.
- It helps both parties to know exactly what would happen if the marriage does not work out. This helps to avoid anxiety during temporary marital conflicts, and often results in strengthening the marriage relationship.
What Guidelines are followed in a Prenuptial Agreement?
California’s Uniform Premarital Agreement Act provides the legal guidelines for couples who decide to make agreements before their marriage. Under the Act, an agreement is defined as “an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.” Before a premarital agreement is considered valid, certain procedures should be followed:
- Each party must fully disclose all financial information (such as assets, income, and debts) that would be relevant to the other party’s decision to enter into the agreement.
- Each party should seek independent legal counsel.
- The agreement must be in writing.
- The agreement must be entered into freely and free from fraud and duress.
- Both parties should have ample time to consider its provisions and obtain legal advice before signing.
- There should be a reasonable amount of time between signing the prenuptial agreement and the wedding to avoid the appearance of undue time pressure.
California Prenuptial Agreement Attorney
A valid premarital agreement can help avoid the uncertainties and stress caused when unfortunate or unexpected events happen in a marriage that cause couples to no longer be together, whether it is separation, divorce, or death. You can also use a prenuptial agreement to provide a solid structure for your financial relationship. If you and your intended spouse are considering a prenuptial agreement, contact the experienced attorneys at Russakow / Greene & Tan. We will help you determine if a premarital agreement is right for you.
