Control Your Financial Matters with a Premarital Agreement
You may ask, “Why create and sign a prenup?” A prenuptial agreement is designed to save time and costs if the couple divorces. Prenuptial agreements offer both parties clarity, security, and peace of mind. Such agreements allow the couple to enter marriage with a clear written agreement that controls how certain financial matters will be dealt with during marriage, upon death, and in the event of divorce. Creating a prenuptial agreement also ensures both parties know what to expect, which can strengthen a marriage.
In relation to prenuptial agreements, California law is complex. Navigating the law effectively requires an experienced legal team that pays attention to detail. Prenuptial agreements must meet several requirements in order to be valid under California state law. Rest easy knowing that the Law Offices of Cynthia Ann Harris uses precision and care to ensure such requirements are met.
A prenuptial agreement will:
- Manage separate properties
- Include provisions for life insurance
- Include provisions for medical coverage
- Identify property brought into the marriage
- Include provisions for the division of debt and real property
- Control how income acquired during the marriage will be handled
- Include provisions for the payment of spousal support upon dissolution
A prenuptial agreement will NOT:
- Proscribe specific custody or visitation future arrangements
- Include specific child support for the future
- Be a substitute for proper Will and Trust/Estate Planning
Do I need a prenuptial agreement?
This is a personal choice. If you are coming into the marriage with a business or real estate, a prenuptial agreement may be right for you. A prenuptial agreement can provide financial boundaries for two party’s wishing to marry. These boundaries may allow both parties to feel more secure in the relationship and take the guess work out of what will happen to assets and debts.
Also, if you are getting married for the second time and have children, a prenuptial agreement may be for you. A prenuptial agreement can ensure that any assets a parent may come into a new marriage with will be protected as their separate property, which may in turn provide comfort to the parent.
If you are getting married within the next couple months, now is a good time to start thinking about a prenuptial agreement. There are specific timeframes under California Law- such as the seven-day waiting period. This seven-day waiting period is measured from presentation of the final draft of the prenuptial agreement to the party’s signing the agreement. Failure to adhere to this seven-day period may result in issues with the validity of the prenuptial agreement down the road if the marriage ends in Dissolution. Planning ahead is key when preparing a Prenuptial Agreement.
Choose the law office that drafts premarital agreements on a regular basis and has the necessary knowledge to effectively draft our clients’ prenuptial agreements. We understand the sensitive nature of these negotiations and have a skilled team that will protect both your interests and your relationship.