Prenuptial Agreements – Yay or Nay?
- 11 12, 2018
- Irwin & Irwin
When two people plan on getting married for the first time, a prenuptial agreement is probably the last thing on either person’s mind. However, there are situations which warrant a prenuptial agreement, such as, when one potential spouse has more assets (as compared to the other), or when one of the spouses has divorced in the past. In situations like these, a prenuptial agreement may come in handy.
However, because California is a community property state, the presumption is that everything acquired by a married couple during the course of marriage is community property. This means that each spouse has a one-half interest in the entire property, whatever that property may be. For this reason, unless otherwise stated in a prenuptial agreement, the California presumption applies.
Since 1986, the Uniform Premarital Agreement Act (UPAA) has applied to California prenuptial agreements.
This law basically states that written prenuptial agreements signed by both spouses prior to marriage automatically becomes effective upon marriage. However, the signing of this agreement must be done rationally and voluntarily, not under any other circumstance. This agreement concerns only the couple’s present and future property rights. It cannot negatively affect or limit a future child’s rights – visitation, child support, etc.
With that said, do you think a prenuptial agreement is right for you?
Authored by IRWIN & IRWIN.
IRWIN & IRWIN Family Law is located in Fullerton and Newport Beach, California. We provide a full suite of family law services from divorce litigation, divorce mediation, child custody issues, domestic violence restraining orders and representing minors in court. “Every situation is different, and some come with very complex financial issues. Our legal team is here to support you during a very troubling time and prepare you for court, or to at least help negotiate or mediate the issues out to establish an equitable legal resolution,” says Kelly Irwin, Senior Litigator at the firm.