Many people have heard of the term “prenup,” which is short for a prenuptial agreement. These agreements are often not discussed, and you may think they only involve the wealthy and famous. That is not the case. At the Law Offices of Ronald K. Stitch, we know that premarital agreements are valuable tools used by couples entering a marriage. They offer protection, and our Westlake Village premarital agreement attorney is ready to help you have peace of mind as you enter your marriage.
Understanding why premarital agreements are helpful
Premarital agreements are not uncommon, and they are governed in California through the Uniform Premarital Agreement Act (UPAA). The law states that any written prenuptial agreements that both sides sign will become effective as soon as they get married.
That sounds simple enough, but ensuing a premarital agreement is drafted correctly and is enforceable is important. First, we need to discuss what a premarital agreement can cover. They usually revolve around a couple’s current and future property rights. There are times when the terms of possible future spousal support will also be covered in a prenup.
If one or both parties in the marriage have significant assets before they come into the marriage, these agreements could provide extensive protection. In California, all marital assets are considered community property and have to be split equitably in the event a divorce occurs. A premarital agreement can define what separate property each party has as well as how to handle property acquired during the divorce.
A premarital agreement cannot have a negative impact on child support, meaning a couple cannot make an agreement that says one party will not have to pay child support in the event of separation. These agreements can also not govern issues related to child custody or visitation.
Premarital agreements must have the consent of both parties
Any premarital agreement must be consented to by both parties. A person agreeing to the prenup must be mentally sound and not influenced by any party.
Under California law, the premarital agreements will only be enforced if a spouse:
- Receives a complete financial history of the other party involved.
- Has had seven days from receiving the agreement to review it or have an attorney review it.
- Was represented by an attorney separate from the one who originally drafted the agreement (though they can sign a waiver for this).
Let us help you get this started
If you are planning a marriage, you may have heard of premarital agreements. Many people do not like the thought of needing these agreements, but they are great ways for a couple to protect themselves. At the Law Offices of Ronald K. Stitch, we will sit with you and discuss how these agreements can help your marriage and protect you in the future in the event separation occurs. When you need a Westlake Village premarital agreements attorney, you can contact us for a free consultation by clicking here or by calling 818-237-4574.