A prenuptial agreement, commonly known as a prenup, is a legal contract between two individuals who are planning to get married. It outlines the rights and obligations of each party in the event of a divorce or separation. In California, prenuptial agreements are governed by specific laws that must be followed to make them valid.
The standard prenuptial agreement in California must include the following elements:
1. A list of all assets and liabilities of each party. This includes any property, investments, bank accounts, and debts that each person currently has.
2. A statement of how these assets and liabilities would be divided in the event of a divorce. This can include specific percentages or formulas to determine each person`s share.
3. Clauses that address spousal support (alimony) and the payment of attorney fees if a divorce were to occur.
4. Provisions outlining how property acquired during the marriage will be divided in the event of a divorce.
5. A statement that each party has fully disclosed all of their assets and liabilities and that they are entering into the agreement voluntarily.
6. Signatures of both parties and notarization.
It is important to note that a prenuptial agreement cannot be used to decide child custody or child support. These issues are decided by a judge based on the best interests of the child at the time of a divorce.
It is also essential to ensure that both parties have their own legal representation and have had ample time to review the agreement before signing. If one party can prove that they were coerced or pressured into signing the agreement, it may not be considered valid.
In summary, a standard prenuptial agreement in California should include a detailed list of assets and liabilities, address spousal support and attorney fees, outline how property acquired during the marriage will be divided, and have signatures and notarization from both parties. It is critical to follow California`s specific laws to ensure that the agreement is valid and enforceable in the event of a divorce.