Archive for Prenuptial Agreement

Great post with tips for couples planning cohabitation

couple moving in for cohabitation

Our friends at ClosetBox just posted a great piece with 8 expert tips for couples thinking of living together.  The author, Brittany Anas, was kind enough to include my expert tip, which was to be sure and have a cohabitation agreement.  At least in California, the family code does nothing for non-married partners.  When there is a break-up, couples are treated like business partners in a civil dispute.  A cohabitation agreement goes a long way to help define expectations before moving in together.  That way,  if things don’t work out, there’s a plan.  It’s easy to prepare and can save a lot of heartache down the road.

Other tips for the ideal cohabitation included having a discussion prior to moving in, taking inventory of the stuff, choosing a theme for decor, creating personal space and splurging on the king-size mattress.  Thanks to ClosetBox and Brittany for a great post.

Read the article here.

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FAQ: What is the purpose of a prenuptial agreement?

Prenuptial Agreements Are on the Rise, And More Women Are Requesting Them

The Prenuptial Agreement in California—Dotting the “i’s” and crossing the “t’s”.

 

Prenuptial Agreements Are on the Rise, And More Women Are Requesting Them


In my law practice, I am a fan of prenuptial agreements. It is interesting to see them on the rise among women. That must indicate that women are becoming more and more financially well off prior to marriage, necessitating a document to protect their assets.

I also believe that prenuptial agreements are important because they help couples have that financial discussion before marrying. So many of the divorcing couples I work with have simple never had the conversation.

Additionally, one needs to consider that all couples have a prenup. It is either one you write yourself or the default prenup written by your state legislature. I prefer to write my own thank you very much.

Read the Article at HuffingtonPost

Are You a Victim of Financial Infidelity?


The author in this article presents a very interestin­g take on fidelity in marriage. The idea of “financial fidelity” is a good one. So many of my divorce clients arive at the decision to end their marriages over money issues. As a divorce profession­al, I appreciate the advice to have a moderate response with financial “cheating” is discovered­. Many of my clients opt for a postnuptia­l agreement when such happens as a way to prevent the marriage from disintegra­ting. Having a written agreement with clear understand­ings of the financial boundaries and what is expected from a spouse can have a huge impact on the success or failure of the marriage going forward. I also support having the prenup discussion prior to marriage so that a marrying couple can have the money conversati­on. This prevents misunderst­andings and incorrect expectatio­ns from developing down the road.
Read the Article at HuffingtonPost

No Royal Prenuptial Agreement For Prince William And Kate Middleton


Kate and William have no prenup! I don’t know how things work in Britain, but according to California law, any assets currently owned by William or later to be inherited would be his separate property and not subject to division in the event of a divorce anyway. Perhaps William simply doesn’t need it. Of course, alimony is a whole other story.
Read the Article at HuffingtonPost

This is Not Your Parents’ Prenup: Debunking Prenup Myths

prenup
This article on Huffington Post has some excellent points about the modern prenup. I believe that the prenup conversati­on forces couples to discuss their money and expectatio­ns PRIOR to getting married. To me, that makes for a better marriage. If you can’t have the conversati­on, then perhaps you should think about whether you can have the marriage.
Read the Article at HuffingtonPost

The Prenuptial Agreement in California—Dotting the “i’s” and crossing the “t’s”.

prenuptial agreementI have seen A LOT of malpractice by otherwise supposedly competent attorneys in the area of prenuptial agreements. The California law for prenuptial agreements is fairly strict for what will pass muster and what will be thrown out. If you don’t get it right, your agreement won’t be worth the paper it is written on. Here’s my “formalities” checklist:

1.    The agreement must be in writing. California Family Code § 1611.

2.    The agreement must be executed voluntarily. California Family Code § 1615(a)(1).

3.    There must be full disclosure of financial obligations and property. California Family Code § 1615 (a)(2)(A).

4.    There must be a waiver of further disclosure expressly waiving, in writing, any right to disclosure of the property or financial obligations of each spouse beyond the disclosure provided. This should be executed prior in time to the execution of the prenuptial agreement. California Family Code § 1615(a)(2)(B).

5.    Both parties should be represented by counsel and each attorney should sign off on the prenuptial agreement. California Family Code § 1615 (c)(1). (Technically, California Family Code section 1615(c)(3) provides that a prenuptial agreement could be enforceable with only one attorney. However, it is harder and I don’t recommend it. I won’t do a prenuptial agreement without attorneys on both sides because the requirements to show that the other party was fully informed of rights and obligations is too onerous. It sets the single attorney up for a lawsuit. I simply won’t do it.)

6.    Both parties must have had no less than seven calendar days to review the prenuptial agreement between the time it is presented in final form and it is signed. California Family Code § 1615 (c)(2).

Although it is not specifically required by the code, I always have my prenuptial agreements notarized. Another tactic is to follow the agreement up with a postnuptial agreement for reinforcement. Different rules apply to postnuptial agreements. So, if the prenuptial agreement is thrown out under the premarital agreement act, part of it may still hold up if it’s done as a postnuptial agreement as well.

When you are contemplating your own prenuptial agreement, make sure you do it with an attorney. Don’t rely on an online service or a paralegal service to prepare your documents. Too much can go wrong and it is very easy to have an agreement thrown out if it doesn’t meet the requirements of the code. Also, as mentioned above, don’t let your attorney fly solo on this. Make sure the other party is represented by counsel.

Again, I have seen a lot of attorneys go down in flames because an agreement ran afoul of the code. I have seen even more agreements go down in flames because the parties tried to do it without counsel. Word to the wise: Get it right.

For help and a free consultation regarding your prenuptial agreement, go to weberdisputeresoltion.com.

Shawn Weber, Attorney and Mediator

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