Prenuptial agreements are important documents that establish how assets and debts will be subdivided in the event you get a divorce, clarify financial responsibilities during the marriage, protect individual assets and can provide for spousal support arrangements.
As such, it is important to understand what makes a prenuptial agreement legally enforceable. In California, the following requirements must be met for the agreement to be legally valid.
1. The agreement be must written
A prenup must be in writing and signed by both involved parties. Oral agreements, even if agreed upon in good faith, are not considered legally binding. The written document ensures that there is a clear record of the terms agreed upon and helps prevent potential disputes in the future. Both parties should have the opportunity to read and understand the terms of the agreement before signing.
2. Both parties must have entered it voluntarily
You cannot be coerced or pressured into signing a prenuptial agreement. Both parties must enter into the agreement without any undue influence or duress. This means each party should have had sufficient time to think about the agreement and seek independent legal guidance if desired.
3. The agreement must be fair
A prenuptial agreement must be reasonably fair at the time it is signed. This means the terms should not be excessively one-sided or favor one party to the detriment of the other. While California law allows for some flexibility in the terms of the agreement, a court may invalidate an agreement that is deemed to be unconscionable or excessively unfair.
4. Full disclosure of assets and liabilities
Both signatories must disclose their assets and liabilities before signing the prenuptial agreement. This ensures that each party has complete knowledge of the other’s finances and can make informed decisions. Providing misleading information can lead to the agreement being challenged or deemed unenforceable.
If you are considering a prenuptial agreement and are not sure if you fully understand the implications or requirements, it may be important to consider seeking legal guidance.