California Prenuptial Agreement Attorney
California prenuptial agreements provide many benefits to couples. Though most couples don’t think about divorcing before their wedding, statistically speaking, they should since 50% of first-time marriage end in divorce. Subsequent marriages are 72% more likely to end in divorce. Addressing the fact that most marriages end should make you consider getting a prenup.
Below is an overview on how prenups work in California. Contact San Diego Esquire for more information about our California prenuptial agreement drafting services.
What is a Prenuptial Agreement?
A prenuptial agreement is often viewed as divorce insurance. Prenuptial agreements protect both parties’ financial interest in the event of potential marital conflict. For a California prenuptial agreement to be valid, it must be in writing and signed by both parties. In addition, the spouse receiving the prenup must have:
- Received a complete financial disclosure of the other party before signing;
- Had at least seven (7) days to review the prenup before signing (or his/her attorney);
- Been represented by an attorney (independent of the other spouse’s attorney) or waived their right to be represented by an attorney (must affidavit reflecting waiver) before signing the agreement; and
- Received full disclosure of the terms, rights, and conditions of the prenup;
The prenuptial agreement cannot be unconscionable. This means the agreement cannot unreasonably favor one party. If the spouse receiving the agreement is not fluent in English, the agreement must be translated to his/her native language.
The Benefits of a California Prenuptial Agreement
A prenuptial agreement can protect both spouses separate property interests including their family inheritance, business or professional practice assets, and limit personal liability for pre-marital debts. A prenuptial agreement can limit a spouse’s interest in the other spouse’s business upon divorce. It can also protect a debt-free spouse from having to assume the obligations of the other spouse. Premarital agreements can also limit the amount of spousal support a spouse may receive upon divorce.
Enforceability of a California Prenuptial Agreement
While courts recognize parties’ abilities to contract, California prenuptial agreements may not be enforced if certain factors are present. For example, both parties must voluntarily enter into the agreement. If a party involuntarily signed the agreement, it will not be enforced. The elements mentioned above (What is a Prenuptial Agreement?) must be satisfied in order for a California prenuptial agreement to be enforced.
Contact San Diego Esquire for more information on how to create a California prenuptial agreement. We provide affordable legal services to California residents. Our services include drafting, reviewing, and negotiating premarital agreements. Our attorney can review your existing agreement and provide you with legal advice before execution. We can also draft an agreement for you. Sign up below to get started.