What is a prenuptial agreement?

A prenuptial agreement, or commonly known as a “prenup”, is a contract between two people entering a marriage that outlines the financial rights and obligations of each party in case of a divorce or death. Prenuptial agreements are often used to protect separate property brought into the marriage, such as property, investments, and inheritances, as well as separate debt obligations. In California, prenuptial agreements cannot contain provisions that will encourage one partner to get a divorce, but must be negotiated in good faith and in writing before a marriage. Prenuptial agreements can also be used to lay out the financial obligations of both parties in the event of a divorce. These agreements can be used to specify spousal support, spousal maintenance, and other financial terms. Additionally, prenuptial agreements can cover the rights of each party with regards to the division of assets acquired during the marriage, and can provide clear details on how certain debts, such as credit card debt, should be divided. In California, prenuptial agreements can be enforced in court and both parties must sign the documents with independent legal counsel present. Without a prenuptial agreement, the assets acquired and debt liabilities incurred during the marriage are subject to the state’s divorce laws, which may not be to one party’s benefit. Therefore, it is important for couples who are considering marriage to understand all the implications and potential benefits of entering a prenuptial agreement.

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