A Breakdown of the Legal Requirements for Prenuptial Agreements

family law attorneysConsidered “taboo” for a long time, the stigma around prenuptial agreements has slowly decreased over the years. These days, many are waiting until later to get married, and individuals often bring a complex set of assets and liabilities to the table. In cases where both parties communicate openly and wish to keep their financial independence from one another, prenuptial agreements can be a great tool.

At the R&S Law Group, LLP, people often ask us about how they can establish a prenuptial agreement easily and quickly. This inspired us to write up this blog post, which describes the legal requirements that you need to account for when looking to establish a prenuptial agreement in California. That said, do keep in mind that this is general information and not legal advice. To learn more about how one of our reputable family law attorneys can help you establish a prenuptial agreement in California, do not hesitate to contact us directly to schedule a free initial consultation.

For now, here are the legal requirements that must be fulfilled before you can establish a prenuptial agreement between you and you soon-to-be spouse.

All Assets and Liabilities Must be Fully Disclosed

Prenuptial agreements require that parties fully disclose all of the assets and liabilities that they “bring to the table.” The primary reason for this is that it avoids “surprises” and ensures that both parties are exactly on the same page. This helps cut down on future conflict and guarantees that each spouse fully understands the nature of the agreement.

Both Individuals Must Have Independent Representation

In order for a prenuptial agreement to be implemented, California dictates that each party must have their own individual, independent representation. That said, the state can waive this requirement under certain conditions. The party who is waiving his/her requirement for independent representation needs to receive an in-depth copy of the agreement that clearly spells out all terms and conditions.

All Parties Must be Granted Time to Consider the Arrangement

Finally, it is important that both parties are given enough time to consider and study the arrangement. Once the agreement is executed, it is legally-binding and fully enforceable, which is why California requires that both parties have at least seven days to mull over the prenuptial agreement before they can move forward.

Want to Learn More About Prenuptial Agreements in California?

Remember, we at the R&S Law Group, LLP are seasoned family law attorneys who can provide you with expert legal counsel on matters relating to prenuptial agreements, as well as any other type of family law matter in California. Call us today to learn more about how we can help.