When starting a new life with someone, there’s often more involved than being in love and committed to one another. Careful financial planning is also necessary. In California, prenuptial agreements (prenups) allow couples to establish responsibilities and financial boundaries before tying the knot.
A key legal requirement in California is the 7-day rule, which requires a minimum of seven calendar days between the initial presentation of the prenup and the agreement’s signing. This rule ensures that both parties have had enough time to consider the terms fully.
To ensure that your prenup is legally sound and tailored to your specific needs, it’s essential to consult a qualified family law attorney well in advance of your wedding date. Starting the process early will give you ample time to make necessary revisions and prevent any last-minute rushing.
Prenuptial Agreements in California
A prenuptial agreement in California is a legally bound agreement to help couples achieve financial clarity before marriage. It covers key areas like asset division, debt allocation, and alimony in case of divorce or separation in the future. Beyond financial protection, a prenup can help open up discussions around financial goals and expectations, making a solid foundation for a transparent partnership.
To be valid, a prenuptial agreement needs to meet the following criteria:
- Voluntary Agreement —Both parties must willingly sign the prenup.
- Mutual Signatures —Both parties have to sign.
- Notarization —The agreement must be notarized.
- Full Disclosure —Both parties must submit financial information.
- Legal Advice —Legal advice is recommended, especially if modifying any spousal support.
Prenups can outline how separate and community property is treated, ensuring that income, assets, and debts stay separate or are handled as the couple wants. They also address issues around spousal support, inheritance, and property division, making them valuable for those with unequal wealth or debt. The protection and clarity offered with a prenup can help avoid future legal disputes.
The 7-Day Rule
The 7-Day Rule is part of California’s prenup process that took effect in January 2020. It’s a legal requirement that the final version of a prenup be presented to the other party no less than seven calendar days before the final draft is signed in front of a notary.
This ensures that both individuals have taken time to review the terms of the agreement and, if needed, seek legal advice. Failure to comply with this 7-day rule can render the prenup invalid, which might compromise the protection of each party.
When to Begin the Prenup Agreement Process
The key to making a smooth and legally sound prenuptial agreement in California is timing. Here’s a guide to help you avoid any potential issues:
- Start Early —Start any discussions regarding the prenup six months or more before your wedding to allow enough time for negotiations or drafting.
- Assess Your Needs — Review your debts, assets, and any special conditions you’d like to address in the agreement.
- Seek Legal Advice —While it isn’t required, talking to a family law attorney is highly recommended to make sure your prenup complies with California law.
- Create a Draft Agreement —Collaborate with your family law lawyer to create a document that clearly outlines both parties’ terms while adhering to legal standards.
- Keep the Review Timeline in Mind —When the final version is completed, both parties must have at least seven days to review it before signing.
- Finalize and Notarize — At the conclusion of the seven—day review period, the document must be signed before a notary to become official.
Frequently Asked Questions About Prenups in California
Does a California prenup have to be notarized?
Yes, it must be signed in the presence of a notary, and the final version must be presented to each party at least seven days before signing.
Can you sign a prenup after marriage in California?
No, once you’re married, you would need a postnuptial agreement, which is similar but is created after the wedding instead of before.
Can I write my own prenup?
Yes, you can write your own prenup, but it must comply with California’s legal requirements. Both parties are advised to seek out independent legal counsel to ensure protection.
Do you need a lawyer for a prenup in California?
Although it is not strictly required, California law encourages both parties to seek independent legal counsel to avoid issues like coercion or influence that could invalidate the agreement.
What if my prenup was signed before January 1, 2020?
The California Premarital Agreement Act states that prenups signed before January 1, 2020, required independent counsel seven days before signing. After that date, the 7-day rule still applies, whether legal counsel is involved or not.
Prenuptial Agreements With a California Attorney
A California prenuptial agreement offers several benefits, from bypassing the state’s community property division system to protecting personal assets and addressing debts. Prenups can create more open communication between partners, save time and money in case of divorce, and safeguard personal property and family heirlooms. They can also help protect against debt liabilities and provide support for both personal and family interests.
There are a few misconceptions about prenups that tend to deter couples from getting them. Contrary to popular belief, creating a prenup isn’t a sign of distrust or is only available for the wealthy. It is a practical step for all couples, regardless of their financial status, to help prepare for any future challenges. For a clearer understanding of prenups and to make sure yours meets legal standards, it’s imperative to consult with an experienced attorney.
At The Gorski Firm, we provide clients with solutions tailored to their cases. We handle all types of family law matters, including divorce and separation, paternity and parenting plans, guardianship, custody and visitation, property division, child or spousal support, and domestic violence cases.
Contact us today so we can work together to plan for a great future.
