in the day of quick marriages and even quicker divorces, the use of a Prenuptial Agreement is not as unusual as it once was. In the past, there was a stigma associated with using these agreements. This is no longer the case, and more and more couples are finding them a useful tool for planning for the future.
These Premarital (Prenuptial) Agreements are designed for use by couples who have yet to marry. The agreements sets out in specific detail the distribution of any assets and/or debts in the event of divorce or death.
Even if you feel that you don't have a large amount of assets, it is still important for many couples. For instance, if your partner has a high amount of debt, a Prenuptial Agreement will prevent creditors coming after you in the event of a divorce. Or perhaps you have a child from a different marriage, or previous support obligations. If you should pass away, the agreement could keep your previously acquired assets separate from your current marital estate.
Prenup Agreement Features:
The agreement will allow the parties to set out the property being brought into the marriage that should remain separate in the event of death or divorce.
Identifies property that will be shared;
Division of Property.
Sets out how all property will be divided in the event of death or divorce.
Alimony, Support and Maintenance.
Sets out any payments that will be made.
References the estate plan and/or wills of the couple and identifies what will be included,
Prenuptial Agreement California
Prenuptial agreements in California are governed by California's Uniform Premarital Agreement Act. You can find the official version here.
Under this act, a prenuptial agreement California is known as a premarital agreement. Section 1610 of the California Family Law Code defines what a premarital agreement is – basically it is an agreement made by an engaged couple that will take effect when they get married. Section 1610 also defines what property is, and the definition is very broad, encompassing pretty much anything of value.
Under section 1611 of the California Family Law Code, a prenuptial agreement California must be in writing. Oral agreements are worth the paper that they are written on.
The next section, California Family Law Code section 1612, sets out what can and can't be in a prenuptial agreement California. This is fairly similar to most other states. Generally any financial issue can be dealt with in a premarital agreement. Issues relating to children, including child support and custody are not permitted. Nor is one allowed to contract about obligations during the marriage, such as household chores, frequency of sexual relations, or penalties for adultery.
If you would like end up getting a particular and also binding premarital agreement (also referred to as a prenuptial agreement or "prenup"), it is best to receive legal help from your a lawyer. In truth, you should have two legal professionals - one intended for each of you. Nevertheless just before your Prenuptial Agreement Lawyer commence composing your prenup, an individual and also your loved one ought to decide on the fundamental phrases with the agreement.
Getting into a premarital agreement presents several positive aspects, especially safeguard and also guarantee with what can happen if the relationship ends in a divorce. When the relationship ends, lawsuit in excess of monetary problems is usually eliminated in case a good agreement is in place.
The most crucial components into a L . a . prenuptial agreement usually are disclosure and also self-sufficient portrayal. Disclosure signifies the complete and also correct revelation coming from all earnings, resources, financial obligations and also chances which exist at the moment and also in the foreseeable future.
Our experienced family law attorneys can help you with all matters relating to prenuptial agreement. Call or email us today for a free consultation.