Commonly known as prenups, prenuptial agreements have increasingly become part of the pre-marriage picture. Without one in place, California law becomes the default if the marriage does not work out. Although no one wants to enter into a new marriage with an eye toward its ending, leaving it up to California law to hash out can be prevented with a bit of pragmatism. At best, a prenuptial agreement spells out clearly where each partner stands concerning financial matters and creates a foundation for trust concerning money matters. If you’re getting married, here is what you need to know about prenuptial agreements in California.
Prenuptial Agreements Aren’t Only for the Well-Off
Because California is a community property state, both partners potentially have something to lose when the marriage doesn’t go as hoped. Ideally, a well-crafted prenuptial agreement protects both spouses, and those that are viewed as unfair or lopsided by the courts may be deemed unenforceable.
Prenuptial Agreements Can Be Customized
Because no two unions mirror images of one another, no two prenuptial agreements should be either. These agreements can be customized to meet the individual needs and preferences of each couple. Suppose one party is set to inherit a significant sum of money or property at some point in the future. In that case, a prenuptial agreement can limit the amount awarded to the other spouse upon dissolution of the marriage. If one person collects certain items as a personal passion, the agreement can protect that collection from being split down the middle by the court.
Prenuptial Agreements Lessen the Pain of Divorce
Hashing out financial details through multiple back-and-forth communications with attorneys and court appearances takes a toll on everyone. When it comes down to divorce, most people would prefer to make a clean break, and a good prenuptial agreement can help facilitate this. One of the essential things California couples need to know about prenuptial agreements is that they need to be appropriately timed to be accepted by the court. California law states that these agreements must be finalized at least seven days before the marriage is scheduled. Because these agreements typically involve a significant amount of back-and-forth communication between the couple, it is advised that they not try to hurry through them. Ideally, the process of crafting an effective and fair prenuptial agreement should begin shortly after the couple has solidified their marriage plans.
Please feel free to contact MNB Law Group at 818-344-9200 or use our handy online contact form for more information about crafting a customized prenuptial agreement that will stand up in California courts.
