The weeks between Thanksgiving and New Year’s Day are the peak time period for getting engaged, and since many people marry more than once, a prenuptial agreement has become an important estate planning tool for those who plan to say “I do” in the near future.
A prenuptial agreement is especially useful if you have children from a prior marriage and assets that you want those children to inherit. A post-nuptial agreement can provide the same protections, but is done after the marriage.
The most important thing in preparing a prenuptial agreement is to ensure that it is valid. To be valid, a prenuptial agreement must:
· Be in writing and signed by both spouses;
· Be signed in good faith with no pressure applied by one spouse on the other;
· Be read and understood by each spouse before signing;
· Include full disclosures of assets and liabilities of both spouses;
· Not include any invalid provisions, such as a modification of child support or gross unfairness to one spouse in favor of the other.
It is also in the best interests of each spouse to retain separate legal counsel to ensure that each is entering into the agreement independently and has his and her individual interests protected.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0042.