California Prenuptial Agreements
California law defines a prenuptial agreement as an agreement about property between people planning to marry. It covers real property or personal property, including future earnings, which may be presently owned or a future expectation of ownership.
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Requirements
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The parties must fully disclose their property and any financial obligations they have, although one or both may waive the right to full disclosure. Both must voluntarily sign a written agreement. The signing is considered voluntary only if the parties were represented by separate counsel or expressly waived that right, says the Official California Legislative Information web site.
Effectiveness
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The agreement becomes effective when the parties marry. It acts as a marital contract governing what becomes of property in the event of separation, divorce or death of one of the parties.
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Limitations
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The agreement may not place limits on either spouse's right to child support. Provisions about spousal support are enforceable only if the party seeking support was represented by a separate attorney when the agreement was made.
Other Factors
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The agreement must be given to the prospective spouse seven days before signing to become enforceable. A court will not enforce an agreement that is unconscionable, meaning that it is obviously unfair.
Tip
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Avoid problems by retaining separate counsel for each party, says Nolo.
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References
Resources
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