Prenuptial Agreements

Los Angeles Family Attorneys

A prenuptial agreement or prenup is a written contract between two people who are planning to marry that sets out the terms of asset possession, how future earnings will be treated and other financial arrangements-all in the event of a future divorce. If either party has substantial assets, large income potential or expected large inheritances, a prenuptial agreement would be recommended.

There are different types of prenuptial agreements:

  • Unmarried couple who plan to marry
  • Couple who are married – also called a postnuptial agreement
  • Unmarried couple who are cohabitating (living together)
  • Registered Domestic Partners can also enter into a prenup but are not afforded the federal income tax benefits that married couples have

Children of the marriage and their support cannot be regulated in a prenuptial agreement. All issues regarding the children must be determined in the children’s best interest.

These matters should be taken into account to execute a valid agreement:

  • Each party should be represented by counsel. Community property rights can be waived in this agreement and thus must be carefully considered.
  • The contract must be in writing as in a formal agreement. Prenups written on a napkin or orally are not likely to be recognized.
  • The contract cannot be “unconscionable” which generally means that the agreement was grossly unfair to one party. Thus the agreement must be carefully crafted to ensure it will hold up in court.
  • Will the agreement have seniority over a will which provides for the surviving spouse in the event of death?
  • A “sunset provision” could be part of the agreement whereby the agreement is cancelled in the event of certain occurrences, such as the birth of a child or a set time period.

Prenuptial agreements are a complex area of family law. To speak with one of our family lawyers serving the greater Los Angeles area about this or other family law issue, please contact us today at 626-440-9518 for a complementary confidential consultation.