A Prenuptial Agreement is a financial contract between two people before they are married. Often called Prenups, Prenuptial Agreements are two-way contracts intended to protect both spouses' assets and to outline who carries the burden of specific debts. These documents outline the assets and debts of each person and how these assets and debts should be managed if the relationship dissolves or a spouse dies.
Prenups are not just for the rich and famous, they are suitable for any couple who wants to responsibly manage their finances, whether they are together or separate.
This (Agreement) is made , by and between (), an adult residing in , , and (), an adult residing in , , in consideration of the contemplated marriage of the above-named parties. This Agreement shall not be effective until the marriage contemplated by the parties is solemnized.
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. The parties desire to define their rights and responsibilities regarding property and financial matters to the extent these can be foreseen.
In consideration of the marriage about to be entered into by and between the parties and other valuable consideration as described below, the parties mutually agree to the following:
Or later acquired Any and all transmutations of property by the respective spouses per California Family Code Section 852 are described in Exhibits C and D to this Agreement, which by this reference are incorporated into this Agreement. The parties expressly intend that this Agreement will override the doctrines involved in the California cases of Van Camp v. Van Camp, 53 Cal.App. 17 (1921) and Pereira v. Pereira, 156 Cal.1 (1909), and similar later cases, under which a business was deemed to be partially separate property and partially community property by virtue of an apportionment based on either the asserted reasonable return on invested capital or the asserted reasonable value of services for a business (whether incorporated or unincorporated). This Agreement shall be interpreted under the laws of the State of California regardless of the parties' future domicile. The parties' interests in their community and separate property shall be as provided under the laws of the State of California regardless of their future domicile.
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E. Pension Benefits. Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.
E. Each party waives the right of reimbursement under Family Code 2640, for the party's separate property contributions to the acquisition of property of the community property estate, and the party's separate property contributions to the acquisition of property of the other party's separate property estate, regardless of tracing to the source.
F. Each party waives the right of reimbursement under Family Code 2640, for the party's separate property contributions to the acquisition of property of the community property estate, and the party's separate property contributions to the acquisition of property of the other party's separate property estate, regardless of tracing to the source.
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Presently owned by presently owned by leased in the name of shall not be affected by this Agreement. shall shall not be affected by this Agreement. shall shall be considered the community property of both parties.shall be considered the sole and separate property of .
. LIVING EXPENSES. It is the expectation of the parties that their personal earnings, and the income from the assets and investments of either or both parties, shall be used for joint household expenses or other joint purposes. However, such use shall not be construed to imply joint ownership of any assets owned by either party.
Nothing in this Agreement shall limit the obligation of each party to contribute such further amounts as are reasonable and necessary from time to time for the above purposes.
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At any time that the balance of this account exceeds or is greater than the amount reasonably necessary to pay these common expenses, then such excess shall be transferred to a joint savings account. Such savings account shall be used for whatever purposes are agreed upon by the parties. Items purchased through joint accounts shall be jointly owned.
The parties agree and understand that nothing in this Agreement shall preclude them from acquiring property interests during the course of their marriage as joint tenants with rights of survivorship or as tenants in common with undivided interests. Additionally, nothing in this Agreement shall preclude them from making binding transfers of real or personal property to the other at any time during the marriage.The parties agree that all property, whether real or personal, acquired by either of them after the marriage ceremony using joint funds, shall be owned
. TAXES. Nothing in this Agreement shall be construed as waiving (i) any rights of the parties to report their income for federal or state income tax purposes in the same manner as permissible for any other spouses, (ii) any rights provided for spouses under the federal gift tax laws with reference to gifts, or (iii) any rights under the federal estate tax laws with reference to any transfer to which such laws may apply. If the parties elect to file federal and state income tax returns on a joint, rather than on a separate, return with the other, this election shall not create any community property or any other rights or interests in contravention of this Agreement. If the parties elect to file a joint income tax return during their marriage, each shall be liable for any and all taxes associated with his/her separate property. jointly.separately.
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Agrees that the following items will be transferred to as one hundred percent 's sole and separate property. acknowledges and agrees that this transfer negatively affects 's rights in this property.
Agrees that the following items which are currently the sole and separate property of will be transmuted into community property shared with .
Renren, as long as married to , shall provide a home and reasonable support for the health, education, maintenance and support of , child(ren) of , without establishing any legal requirement to do so upon separation or dissolution of the marriage. is not and shall not be liable for the necessary expenses associated with the health, education, maintenance, and support of 's child(ren). , as long as married to , shall provide a home and reasonable support for the health, education, maintenance and support of , child(ren) of , without establishing any legal requirement to do so upon separation or dissolution of the marriage. is not and shall not be liable for the necessary expenses associated with the health, education, maintenance, and support of 's child(ren). The parties will jointly provide a home and reasonable support for the health, education, maintenance and support of any children born to or adopted together by them during their marriage, without establishing any legal requirement to do so upon separation or dissolution of the marriage.
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The parties will jointly provide a home and the other costs of health, education, maintenance and support for any children born to or adopted together by them during their marriage, without establishing any legal requirement to do so upon separation or dissolution of the marriage.
. Each party shall have an equal interest in all property acquired by either party during the course of the marriage (except property that is merely the result of an increase in the value of property owned separately by the parties prior to the marriage, as listed on the attached schedules).
. Each party shall have a proportionate interest in the increase in value (during the marriage) of the homestead real estate, that proportion to reflect the relative values of the contributions, both monetary and in-kind, toward the necessary household expenses and childcare/household duties during the course of the marriage.
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. All savings, investments, retirement accounts, and all property listed on the attached schedules as separate property (owned by a party prior to the marriage) shall remain the separate property of that party who brought such property into the marriage, including any appreciation, income, or other increase to such property.
. Any income tax liability, refund, or benefit in the year of the separation and/or dissolution of marriage shall be allocated prorata to the parties based upon the data which caused the tax result.
. The parties shall have joint custody of any children born to or adopted into the marriage. Such joint custody entitles each party to equal visitation time, or time which is otherwise fair and equitable.
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Each party has been self-supporting for a period of time prior to the contemplated marriage. Nothing in this Agreement shall be construed so as to waive the right of either party to inherit from the other or to forego any right of election in the estate of the
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