Collaborative Prenuptial Agreements
Collaborative Prenup Agreements
A prenuptial agreement, also known as a premarital agreement or “prenup,” is a legally binding contract entered into by two people before they get married. The agreement typically outlines the financial rights and responsibilities of each party during the marriage, as well as in the event of a divorce or the death of one party.
A prenuptial agreement includes the following steps:
- Both parties retain separate attorneys to advise them on the terms of the agreement and to ensure that their legal rights are protected.
- The attorneys work together to negotiate the terms of the agreement, including provisions related to the division of assets, spousal support, and any other financial matters that the parties wish to address.
- The attorneys draft a written agreement outlining the terms of the prenuptial agreement, which is reviewed by both parties and their respective attorneys.
- Both parties sign the agreement in the presence of a notary public.
- A Prenuptial agreement is governed by state law with specific requirements for it to be valid. California requires that the agreement be in writing, signed by both parties, and notarized, to be enforceable. It is important for both parties to fully disclose their assets and financial information to each other to ensure that the agreement is fair, equitable, and enforceable. California requires a minimum waiting period before the agreement can be signed, so it is essential not to wait till the last minute. At a minimum, a lawyer should be consulted several months prior to the wedding date, to assure that the inevitable issues that arise are resolved and the prenuptial agreement is signed well before the invitations are in the mail.
To assure an agreement that is reasonable and fair to both parties, it is desirable to have the prenup prepared collaboratively with each party retaining an experienced family law attorney at the beginning of the process. The parties and their lawyers meet together to establish the goals of the parties and for the lawyers to explain the crucial implications of the future spouses’ financial disclosure details and the clauses that take effect in case of a later divorce. This collaborative agreement is developed based on the consensus of the couple. By contrast, a non-collaborative prenup is prepared by the attorney for one of the parties without establishing in advance whether the provisions are agreed. This agreement’s goal is to protect only one party’s interests and often results in hurt feelings – the last thing you want as you approach your wedding day.
Why Partner With Ewing Mediation and Family Law For A Collaborative Prenuptial Agreement
Attorney Deborah Ewing has more than 30 years experience working with individuals who are contemplating entering into a prenuptial agreement. She is skilled not only in drafting the agreement but in carefully reviewing agreements prepared by other attorneys. She evaluates the significance and explains to you the implication of every clause and financial detail in the proposed agreement. She is committed to making sure that agreement covers all the issues that are important to you and that you understand what you are both gaining and what you are giving up – by entering into a prenuptial agreement. We invite you to contact us today to leam more about why a collaborative prenuptial agreement is right for you. We look forward to helping you protect your assets and your relationship in a way that works for you and your future spouse.