What Are Prenuptial Agreements?
It is common for couples to sign a prenuptial agreement before they get married. It will establish the financial rights and property rights if a couple were to get a divorce. It is a good idea to get a prenuptial agreement because half of marriages end in divorce. Many people think that prenuptial agreements are just for the wealthy. However, everyone who is getting married should consider getting a prenuptial agreement.
What Will a Prenuptial Agreement Do for Me? Do I need a Los Angeles Prenup Lawyer?
How to Make Sure That Your Prenuptial Agreement Is Valid
It is important to make sure that your prenuptial agreement is valid. In order for the agreement to be considered valid, it must be fair to both of the parties that are involved. Even though it is possible to come up with your own prenuptial agreement, it is best to have it reviewed by a Los Angeles prenup attorney.
The Top Benefits of Having a Prenuptial Agreement
What Is a Postnuptial Agreement?
A postnuptial agreement is similar to a postnuptial agreement. The only difference is that you make a prenuptial agreement before you get married, and the postnuptial agreement is made after you get married.
Why People Decide to Get a Postnuptial Agreement?
People decide to get a postnuptial agreement for the same reasons that they decide to get a prenuptial one. However, some people decide to get a postnuptial agreement because they want to change the terms of their prenuptial agreement. It is important to note that neither prenuptial nor postnuptial agreements provide provisions for child support or child custody.
Why a Prenuptial or Postnuptial Agreement May Be Invalidated
Why It Is a Good Idea to Have an Attorney When You Make a Prenuptial And Postnuptial Agreement
One of the best things that you can do to ensure that your prenup will be valid is to hire an attorney. Your Los Angeles prenup lawyer will make sure that everything in the prenup is fair for you and your spouse. There may also be a time limit that applies. Your Los Angeles prenup attorney will make sure that you meet the deadline.
There are a lot of laws that you and your spouse will have to abide by. That is why it is best to consult with an attorney before you come up with the draft. The Los Angeles prenup attorney will make sure that everyone’s best interests are protected.
When you’re engaged, or about to get married, you should have a cautious feeling when it comes to discussing postnup agreements. While it’s true that prenup agreements have a negative perception, it takes the love and romance out of a marriage. The fact is, prenup agreements serve a significant role. Having a prenup allows you to protect your property in a marriage. When you create a prenup agreement, it can be difficult to have a conversation with your significant other. You most likely need the help of a Los Angeles prenup attorney in order to have a valid agreement. At Spodek Law Group, our Los Angeles prenup lawyers can help you create postnup agreements, as well as help you understand what the law allows you to do.
What’s a postnuptial agreement
This is a voluntary, signed contract, between married couples which establishes the terms of dissolution if the marriage fails. Postnup agreements are done after the marriage, and it’s the equivalent of a prenup agreement. It plays a huge role in resolving problems in marriage by getting rid of the potential disagreements over assets, finances, etc. It also helps couples that intended to create a prenup agreement but didn’t have time to address the legal/financial/family issues in case a divorce does happen. Many people think that postnup agreements are invalid, are not as enforceable as prenup agreements in Los Angeles. This is not true. Nuptial agreements are not about when they were signed, they are about the substance and the agreement.
If you want to get a postnup agreement in LA, you will need the help of an attorney who can help. He, or she, will help you come up with an agreement that makes sense. One spouse may want to get a postnup agreement in Los Angeles in order to curb the other spouse.
For starters, a prenuptial agreement is a written contract entered by a couple before marriage. The marriage agreement, a prenup, helps a couple set the terms of the civil union. A prenup defines the legal rights that each partner gets upon marrying and in case of a divorce. Some of the critical issues that prenups solve in advance are how property should be divided, how spousal support (alimony) is to be allocated, and how retirement benefits and savings should be handled during a divorce.Before drafting a prenuptial agreement, the two parties need to have a prenuptial attorney, and preferably one lawyer for each partner. It may seem tedious at first, but the following prenuptial agreement benefits might serve as reasons why you may need to get one:
As you enter into marriage, one partner may have considerably more wealth than the other. In that case, getting a prenuptial agreement can act as a way of ensuring that your partner does not marry you for the money. A prenuptial agreement defines the properties of one spouse and keeps them separate from the marital estate.
In marriage, money-related conflicts have been highlighted as being among the most intense and divisive issues. Similarly, during divorce, most irreconcilable differences revolve around the division of wealth and property. If you own a business, the process of divorce might put it in jeopardy. A spouse might claim a share of the business’s increase in value during the time of marriage. In such a case, a prenup can come in handy and help to avoid some of these financial conflicts.
In most cases, people do not want to enter into marriage, thinking about how it might fail. But consider this, nobody gets car insurance wishing to get into an accident. On the other hand, a prenuptial agreement can help the spouses open up and communicate rationally about wealth. Discussing issues in a prenup can prepare the couple for some of the most challenging conversations in marriage.
On account of the high rates of divorce going on, a prenup agreement would also be realistic. During this conversation, you both open up about your financial status, concerns, and needs. By doing this, you also get to know your partner better.
At times, there are some family properties that you may want to remain within the family at all times. These may be part of your family inheritance or any other cherished assets. This may not have to be left to the court system on where it should go with a prenup. Prenuptial agreements address issues of inheritance and ensure that the estate plan is undertaken according to your wishes.
Apart from sharing wealth during divorce, debt burdens are also things people get from marriage. Unfortunately, in the same way, some spouses join a marriage union with assets debt is another thing that they might bring in as well. In the event of a divorce, you may not want to creditors coming your way in the name of the shared marital assets.
A prenup can safeguard you from the other spouses’ debt burden even in divorce. The agreement should outline the different assets that each partner comes in with and separate them from the debts accrued during the marriage.
If you consider getting remarried after divorce, several challenges might come your way. If your family is joining another family, that means that you are getting into another complicated situation. The two spouses coming together may have different assets and children. This situation might mean that there is a possibility of children, additional assets, and child support.
A prenup agreement can help address arising issues from the previous marriages and define the distribution of wealth if one partner dies or a divorce ensues. In conjunction with a will or living trust, the prenup can ensure that the person’s children inherit what was intended to be theirs.
Divorce can, at times, be messy and expensive. In addition to splitting wealth, the parties involved tend to lose a lot in costly legal battles. In addition to your former spouse’s negative feelings, agreeing on dividing property can be a daunting task. Getting a prenuptial agreement before marrying can help solve some of the conflicts and make the whole divorce process more manageable.
The State of California sets policies on how to divide property during divorce. However, you can have control over much of the decision-making if you get a prenuptial agreement beforehand. Occasionally, the property is divided equally. However, to avoid having the courts decide how things should go, a prenup can give you an upper hand. The prenup agreement can also stipulate how property such as insurance benefits are allocated when one partner dies.
In conclusion, a prenuptial agreement can help a couple look at marriage and marriage issues more realistically. It can also help the couple avoid lengthy court proceedings at the time of divorce.
Prenuptial agreements (also referred to as antenuptial, premarital agreements, or prenups, for short) are contracts between spouses-to-be, who are considering getting married. In America, they rose in popularity in the eighties, but reportedly, even the ancient Romans signed them.
Why Opt for a Prenup?
California legislation regulates the mutual rights and requirements of spouses and domestic partners. That said, some of these privileges can be altered by agreement. If the spouses wish to deal in advance with their property division during marriage or in the event of a split up, or the unfortunate death of a spouse in a different manner than the default under the present state law, then a prenuptial agreement could be an appropriate option for achieving the desired outcome.
A prenup only takes effect upon marriage. Should the marriage happen to get annulled, a premarital agreement might not be enforceable at all, or perhaps only to a minimal extent. In regards to domestic partnerships, the date of registration is the same as the date of marriage.
Is My Premarital Agreement Valid?
To be considered valid, the premarital agreement needs to be in writing, and signed by both parties. A prenup can be modified or revoked after the couple is already married, but as we stated before, only in writing, with signatures by both of the spouses. Notably, due to the special, intimate connection husbands and wives share, any premarital agreement can give rise to the presumption of undue influence. This presumption could provide advantage to a party looking to invalidate a prenuptial agreement in court.
The California Family Code provides that the confidential, fiduciary relationship between spouses “imposes a duty of the highest good faith and fair dealing on each spouse.” The courts have the authority to penalize a breach of fiduciary duty by awarding the full value of a previously undisclosed asset in a divorce to the spouse that was misled. Fiduciary relationships do not begin to exist between partners contemplating marriage. Therefore, a presumption of undue influence would not apply to prenuptial agreements.
The Scope of Premarital Agreements
Prenups can touch on matters such as the interests of the future spouses in their separate or community property. Such interests encompass the right to buy, sell, lease, or mortgage real estate. Even the drafting of a will or a trust, or disbursement of a death benefit from a life insurance policy can be validly placed under limitations by a prenuptial agreement. Often, and with the greatest notoriety, a prenup is invoked in the context of a potential separation or a divorce. A spouse, who would, pursuant to California law, be otherwise entitled to alimony following a divorce, can validly forfeit the right to future spousal support in a premarital agreement.
Limitations of Prenuptial Agreements
But, some key limitations exist regarding the subject of prenuptial agreements: California statute expressly dictates that “[t]he right of a child to support may not be adversely affected by a premarital agreement.” The courts will only enforce provisions that limit spousal support, if the spouse whose rights have been limited, had their own legal representation at the time of signing.
In addition, should the courts deem the waiver of spousal support unconscionable, they will not permit it. An agreement between future spouses or future domestic partners cannot violate criminal laws or public policy. So-called life-style clauses “curtailing visits from in-laws or how often you have sex” usually cannot be enforced by courts.
Validity of Prenups
Generally speaking, courts look upon premarital agreements favorably. That said, there are circumstances under which the prenup will not be enforced: for instance, if one of the two spouses did not sign the agreement voluntarily. Any coercion at signing, if it can be proven, will invalidate the agreement.
There are additionally some less visible legal requirements that impact the validity of a prenuptial agreement. For the court to rule that the signature was voluntary, the party presented with the contract must either seek advice from an independent attorney of their choosing, or needs to, in writing, waive the right to bring in legal counsel.
Pursuant to California law, the future spouse has to be allowed at least seven days to consult an attorney, before signing a prenuptial agreement. The spouses have to provide each other with “fair, reasonable, and full” disclosure of their respective obligations and separate property holdings, unless they forfeit the right to such information in writing. If a wife has no legal representation at signing, she must also be provided a clear and appropriate explanation as to the contents of the contract.
Prenup: The Opinions
A prenuptial agreement may produce some unexpected results. There are people who believe that the obligation to expose everything and lay out the couple’s finances in full before the marriage forces honesty about such details. Without such disclosure up front, the secrecy may lead to a divorce down the line. As certain financial liabilities cannot be effectively limited by a prenuptial agreement, the conversation about such debts induced by the obligatory disclosures can prevent some headaches in the future.
There are also attorneys who find prenups “corrosive” with regards to a first marriage. This comment was spoken in the context of a debate over the high-profile divorce of the Petrakis’, when a prenup was invalidated, because of involuntariness and fraud. In the same discourse, one perspective proposed that “every married couple already has a prenup whether they want one or not. The laws covering marriage and divorce in every state are nothing more and nothing less than premarital agreements.”
The Uniform Premarital Agreement Act
For applicable California Statutes, please refer to The Uniform Premarital Agreement Act..
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