Marital Agreements Attorney in San Luis Obispo, CA
One of the primary headaches of getting divorced is the division of marital property. If you’ve personally worked for many of your assets as a couple, it can be excruciating seeing your hard-earned possessions be taken away by a divorce court. A San Luis Obispo marital agreements attorney can assist in prenup and postnuptial and help you fight for your right to keep your assets. Schedule a consultation with us today!
Prenuptial and postnuptial agreements are “just-in-case” terms that can let you keep a chunk of the assets you own before the marriage. While no one wants to think about the dissolution of the marriage or the death of their spouse, it’s better to do this early on to prevent any issues.
Our experienced San Luis Obispo family law and divorce attorney is here to guide you through the prenup or postnup processes to ensure that you don’t get the short end of the stick if you get divorced. Contact us today for more information!
What is a Prenuptial Agreement?
A prenuptial agreement is a legal agreement made among fiancées or engaged couples before they marry. Prenuptial agreements in California do not need the spouses to give up a right or interest in the need for the arrangement to be legal.
Prenuptial agreements are used for different reasons, including:
- To secure the assets for children from a previous marriage
- Maintaining a family business and ensuring that it continues to exist
- To guarantee the payment of spousal support in the case of a separation
- To restrict the amount and asset value retained by the death of a spouse or if they get divorced.
- To arrange tax-saving changes to your personal property.
Circumstances for Prenuptial Agreements
Prenuptial agreements may cover a range of concerns, including:
- Whether earnings will be considered a separate asset or a community property.
- Which properties will be declared as common property and how to categorize them
- Dividing assets and liabilities in the case of divorce
- Whether one spouse will provide spousal maintenance and support, how much it will cost, and how long it will last
- How property is dealt with if one life partner passes away
- Which partner is liable for the debts accumulated during the marriage
- When the husband and wife are planning to remarry.
Restrictions for Prenuptial Agreements
- The spouses cannot include provisions that restrict child custody arrangements or child support payments.
- Prenuptial agreements can’t include rules that punish one partner for making a mistake like infidelity.
- The parties cannot devise an arrangement that drives them to perform illegal conduct or disobey public policy.
Criteria for a Valid Prenuptial Agreement
In California, prenuptial agreements should comply with strict legal guidelines. According to California’s Uniform Premarital Agreement Act (UPAA), the requirements are the following for the agreement to be valid:
- You must draft these contracts voluntarily;
- Includes all prenuptial agreements that are legally enforceable;
- You must write any explanations about the property in a language that the other party understands;
- Both parties should sign it;
- When a party tries to enforce an agreement that was reached by physical violence, undue influence, coercion, or fraud, the court will void it; and
- A notarized signature.
- Unless both spouses expressly waived separate agreements and legal advice, each spouse should be handled by independent legal counsel.
- The party should have at least seven days from the time the divorce settlement is offered to get separate legal guidance.
Those are the most important factors to consider when drafting a prenuptial agreement upheld in the California court. When writing a premarital agreement, it is recommended for couples to seek legal advice from an experienced California marital agreements attorney.
A lawyer’s assistance can address questions, ease fears, and produce a deed that California courts enforce. A divorce lawyer from 805 Law Group can guide a couple through the process of creating a legally binding prenuptial agreement in the state! Call our San Luis Obispo County attorneys to schedule a consultation.
Inheritance and Community Property
California is one of the community property states. Without a prenuptial agreement, both spouses will return assets held by each spouse before marriage to that person, but wealth jointly shared during the marriage will be divided equally. The couple can decide to classify separate property as community property or vice versa through the help of a prenuptial agreement.
Inheritance rights are affected by California’s community property rules. You can draft a will, but some regulations govern spousal succession that you need to follow. Even if you specify that you do not want your partner to be the heir of the assets when you die, the court would still grant them half of your communal property. As long as it doesn’t harm your minor children, the prenuptial agreements allow you to change your inheritance rights.
The laws covering prenuptial agreements in California are confusing in nature. That’s why you should hire an attorney to guarantee that the terms of the agreement are equitable and understandable. Before you say “I do,” talk to our competent San Luis Obispo marital agreements attorney to find what’s best for you!
What is a Postnuptial Agreement?
Postnuptial agreements differ from prenuptial agreements in that they are made after the wedding has taken place. Unlike prenups, which are legally enforceable once signed, postnuptial contracts must be filed with the family court and approved by a judge.
Many couples do not plan on parting or divorcing when they take their marital vows, but there is a risk. Prenuptial and postnuptial agreements were designed to secure each spouse: whether one spouse enters into a union with large properties or if one spouse gets significant assets during the marital relationship. It not only protects the wealthier spouse but also secures the spouse with far fewer assets.
A postnuptial agreement, like a prenup, splits wealth and property in the case of divorce. A postnuptial agreement might detail the spouse’s property ownership and how the court will distribute marital property to prevent lengthy divorce proceedings. This is especially helpful if you have plenty of assets and you want to avoid a high-income divorce, or if you have a business that you want to protect during a divorce. Schedule a consultation with our prenuptial and postnuptial agreements lawyer today.
Criteria for a Valid Postnuptial Agreement
The California Family Code Section 1500 grants spouses substantial property rights once they marry. A settlement such as a postnuptial contract agreed upon by both spouses might change those rights.
Likely, for a postnuptial agreement to be enforceable in California, you must achieve specific statutory requirements. It must meet the following criteria for a California judge to recognize it:
- You must write these contracts voluntarily.
- Includes all prenuptial agreements that are legally enforceable
- You must write any explanations about the property in a language that the other party understands.
- Both parties should sign it.
- When a party tries to enforce an agreement reached by physical violence, undue influence, coercion, or fraud, the court will void it.
- A notarized signature
- The two parties should disclose a complete and comprehensive accounting of their possessions, earnings, properties, and debts.
- It should be fair and just. Terms should not be one-sided.
Married spouses owe each other a fiduciary obligation, which means they should treat each other with respect and honesty while carrying out deals between them.
Is a Postnuptial Agreement Necessary?
You might consider a postnuptial agreement to secure your rights once you realize that your relationship isn’t working out.
If the other spouse inherits wealth, shifts their career, or enjoys a considerable increase in income, the couple may consider engaging in a postnuptial agreement. Since inheritances are regarded as an independent property, they can be combined or transmuted into marital property, putting them vulnerable to divorce division of assets.
If you’re unsure if a postnuptial agreement is good for you — or if your spouse has requested that you sign one, you should speak with our seasoned marital agreements attorneys in San Luis Obispo and Atascadero, CA.
Talk to a San Luis Obispo Marital Agreements Attorney!
Prenuptial and postnuptial agreements have negative associations with them. But these matters can benefit you and your spouse greatly! At 805 Law Group, we’ll reach an agreement that you will undoubtedly benefit from. Our trusted San Luis Obispo marital agreements attorney can handle your case with compassion and empathy, but we can also employ aggressive tactics to ensure that your rights are not violated.
Don’t wait until it is too late! If you need help with your prenup or postnup, contact our San Luis Obispo family law office. Contact us here to schedule a consultation today with our knowledgeable marital agreements attorney for prenuptial and postnuptial.