Prenup Agreement Lawyer in Beverly Hills
Clarifying How a Premarital Agreement Works and How It Can Protect Your Financial Interests in Los Angeles County
Getting married is one of the most significant decisions you will make in your life, and it is critical to consider the financial responsibilities and repercussions. A prenuptial agreement, or premarital agreement as they are called in California, gives you the chance to discuss issues related to money, property, and each party’s expectations with your intended spouse before you actually get married. Putting a premarital agreement in place doesn’t mean you’re destined for divorce. It means you are taking steps to build your marriage on a firm foundation by addressing any potential issues before they happen.
If you are considering a premarital agreement or are not sure if you need one, contact Baron Family Law, PC, at 916-694-1164 to schedule an appointment with a prenuptial agreement lawyer to learn more.
How Does a Prenuptial Agreement Work?
A prenuptial agreement is a legally binding contract that soon-to-be spouses make before marriage. This contract protects both parties financially if the marriage doesn’t work out.
During the negotiation process, the parties will make preemptive decisions about how they want to handle the separation of the finances and property division in case of a divorce. This commonly includes things like what will be considered separate or marital property and whether either party will pay spousal support. An attorney guides you through these negotiations to ensure that you end up with a fair agreement that protects your rights and interests.
A prenuptial agreement does not go into effect until the marriage occurs. Once a premarital agreement is in place, it can only be changed or revoked with the express written agreement of both parties.
Are Premarital Agreements Enforced in California?
Premarital agreements are enforceable under California law as long as they meet specific requirements. This includes:
- Both parties entered into the agreement voluntarily
- Each party was provided a fair, reasonable, and complete financial and property disclosure from the other
- Neither party was subject to any coercion or duress when signing the agreement
For prenups signed after Jan. 1, 2020, the parties must also have had at least seven days to review the agreement before signing.
The judge always has complete discretion regarding enforcing a premarital agreement. Situations that make it more likely that a judge may choose not to enforce a premarital agreement include:
- Evidence of coercion or duress
- Lack of full disclosure
- Either party didn’t have independent legal counsel
- The presence of frivolous or unenforceable terms
Working with an attorney to draft, negotiate, and review your premarital agreement dramatically increases the chances of it being upheld in court. It also makes the deal more likely to be fair for both parties and reflect your financial interests.
What Can Be Included in California Prenuptial Agreements?
Premarital agreements are focused on financial decisions. Most premarital agreements are generally based on terms related to property division. One of the primary reasons people decide to have a prenup is to ensure that there are clear parameters on what will be considered separate property vs. marital property in a divorce. This is especially important with California’s community property laws. For example, someone who will inherit a family business at some point may want to ensure that this is stipulated as separate property to protect their business interests.
A premarital agreement can also cover whether the parties will be responsible for each other’s debts if the marriage ends. In California, all debt acquired during the marriage is generally deemed community property, regardless of whose name it was taken out in. A premarital agreement can change this to specify that each party is responsible for their own debt in the event of a divorce.
Other issues that can be handled with a premarital agreement include spousal support, life insurance, death benefits, and ownership rights. If spousal support is being negotiated as part of the premarital agreement, both parties generally need to have their own legal representation for this part of the agreement to be enforceable.
A premarital agreement cannot include any provisions for child support, child custody, or parenting time. Other aspects of the agreement also cannot affect the child’s right to support. These matters are handled separately by the family court system based on the best interests of the child. Premarital agreements can also not include any illegal terms or anything that violates public policy.
Should You Have Your Own Prenup Lawyer?
It is strongly recommended to have your own legal representation when you’re negotiating a premarital agreement. Doing so ensures that you understand what your rights are under California law and that the deal is fair and reflects your unique needs as a couple. An attorney can also help you review financial disclosures and provide the required counsel to be able to include terms regarding spousal support.
A premarital agreement can provide valuable protections and financial security if the worst should happen, but it still involves making decisions now about a hypothetical future you’re hoping doesn’t happen. Legal professionals can provide much-needed perspective during this process to help you avoid the common issues they see during divorce cases and provide you with peace of mind that you’re protected.
Navigating a premarital agreement doesn’t have to be a negative or depressing experience. It is about having honest conversations with your future spouse and setting expectations so that both of you can feel secure about your futures. Working with the family law attorneys at Baron Family Law, PC, can ensure you have legal guidance and representation during each step of this process. Call our Beverly Hills office at 916-694-1164 to start the process by talking with an attorney.