UNDERSTANDING PRENUPTIAL AGREEMENTS
With a Qualified Los Angeles Divorce Lawyer
California, just like other states, have laws directly relating to prenuptial agreements. Prenuptial agreements had new laws go into effect on January 1, 2020, and you must be aware of the new laws if you want your prenuptial agreement to be valid. Hiring experienced counsel to draft or review your prenuptial agreement is a necessary expense you must incur.
With California’s community property laws many people with large estates, high net worth, or for peace of mind are opting for prenuptial agreements.
Call Eric J. Proos today to schedule your free consultation to discuss your interest in a prenuptial agreement.
What is a Prenuptial Agreement
A prenuptial agreement, just like your insurance policy, is a written contract. However, instead of addressing insuring your car or house, it addresses the details of your marriage, and more specifically the financial aspect. Simply put, a prenuptial agreement is an agreement between potential spouses made in the contemplation of marriage and is effective upon the marriage. A prenuptial agreement must be in writing, entered into voluntarily, signatures from both parties, signature from a notary, and each side must have at least seven (7) days to seek independent legal counsel and review. The following are examples of what may be addressed in the prenuptial agreement:
The rights and obligations of each spouse as it relates to the property no matter when it was acquired;
The disposition of property upon separation, divorce, death, or other triggering event; and
The making of a will, trust, or other arrangements to carry out the prenuptial agreement.
Even though it is not on the list, spousal support can be waived in a prenuptial agreement if the spouse waiving the spousal support was represented by counsel. A prenuptial agreement may not include any of the following:
Child support or child custody agreement or waiver;
No illegal acts as an obligation to either spouse;
No non-financial requirements, such as a spouse must stay at a certain weight;
Anything regarding the terms of the relationship, such as number of times in a week sexual intercourse must take place (yes, we have seen this).
The Law Office of Eric J. Proos, P.C. has reviewed, drafted, and negotiated numerous prenuptial agreements. Call today at (213) 784-3640 to discuss your prenuptial agreement.