A prenuptial agreement is an important legal tool for couples planning to marry, especially when it comes to protecting assets and defining financial responsibilities should the marriage end. In California, where state laws impact how assets are treated upon divorce, having a clear understanding of prenups is essential. Keep reading to learn more about the key considerations you should be aware of before signing a prenuptial agreement, and how Kendall Gkikas & Mitchell, LLP can help.
Understand What a Prenup Can and Cannot Do
A prenup addresses the division of property and spousal support in the event of a divorce. It can protect inheritance rights, separate property, business assets, and investments. However, it cannot dictate terms regarding child custody or support, nor can it include personal preferences or matters unrelated to finances.
Knowing the scope and limitations of prenuptial agreements is crucial in setting realistic expectations. Below are things to be aware of before signing a prenup.
Full Disclosure is Required
Transparency is key in drafting a valid prenuptial agreement. Both parties must fully disclose their assets, debt, income, and expenses. Concealing information or misleading your partner can result in the prenup being invalidated by a court. Ensuring full disclosure not only protects both parties but also strengthens the enforceability of the agreement.
Seek Independent Legal Advice
Each party should have their own attorney to provide independent legal advice. This helps prevent conflicts of interest and ensures that both individuals understand the terms and implications of the agreement. Having separate attorneys review the prenup can also reinforce its validity, as it demonstrates that both parties had the opportunity to seek advice and fully understand the agreement before signing.
Consider the Timing
Timing is crucial when signing a prenuptial agreement. Introducing a prenup too close to the wedding date can lead to claims of duress or coercion, potentially invalidating the agreement. It is recommended to discuss and draft a prenup well in advance of the wedding to give both parties ample time to consider and negotiate the terms without pressure.
Fairness and Reasonableness
For a prenuptial agreement to be enforceable, it must be fair to both parties. An agreement that heavily favors one side may be deemed unconscionable by a court, which can make it unenforceable. Ensuring that the prenup is reasonable not only makes it legally sound but also reflects a mutual respect for the interests of both partners.
How Kendall Gkikas & Mitchell, LLP Can Help with Your Prenuptial Agreement in Claremont CA
At Kendall Gkikas & Mitchell, LLP, we specialize in drafting, reviewing, and negotiating prenuptial agreements in Claremont CA. We understand the legal, financial, and emotional aspects of prenups and work diligently to ensure that your rights and interests are protected. If you’re considering a prenuptial agreement, contact Kendall Gkikas & Mitchell, LLP today at 909-482-1422 to schedule a consultation and start your marriage with confidence and security.
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