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Post-Marital Agreement. Are you buying a house or starting your business and want it to be your separate property? Make sure you and your spouse sign a post-marital agreement.

POST-MARITAL AGREEMENT/ POST-NUPTIAL AGREEMENT

What is a Post-Marital Agreement?

The Post-Marital Agreement also known as a Post-Nuptial Agreement (Postnup) means an agreement between spouses regarding property.

Family Code Section 1620 states, “Except as otherwise provided by law, spouses cannot, by a contract with each other, alter their legal relations, except as to property.”

 

The same way as a Premarital Agreement (Prenuptial Agreement or Prenup) the Post-Marital Agreement (Post-Nuptial Agreement or Postnup) describes what will happen with spouses’ assets and debts should the marriage end in divorce or legal separation.

To be valid the Post-Marital Agreement (Post-Nuptial Agreement or Postnup) must meet specific laws and regulations:

  1. Must be in writing. Oral agreements are not enforceable.
  2. Before signing the Post-Marital Agreement both parties have to make full and fair disclosure of assets, income, and financial obligations to each other.
  3. Must be executed voluntary. For example, agreements executed under duress, fraud, undue influence are unenforceable.
  4. Must be fair, it means that the Post-Marital Agreement must not be unconscionable, one-sided.

Limitations:

  1. Spouses cannot waive or limit their respective rights to ask for spousal support.
  2. The right of a child to support may not be adversely affected by the Post-Marital Agreement.
  3. Spouses cannot contract to terms which are in violation of public policy or a statute imposing a criminal penalty.

Main points to follow:

  • Hire an attorney.
  • If you are an initiator of having a Post-Marital Agreement with your spouse.
    • Make sure your spouse has an attorney.
  • Use the following forms to formally disclose your assets, income, and financial obligations to your spouse:
    • Income and Expense Declaration (form FL-150), and
    • Schedule of Assets and Debts (forms FL-142).
  • Make sure your spouse formally discloses her/his assets, income, and financial obligations to you.
  • If English is not your/your spouse’s native language, make sure your/your spouse’s attorney speaks your/your spouse’s native language.
  • Your attorneys will take care of other nuances and formalities of the Post-Marital Agreement.

 

DISCLAIMER: This Blog/Web Site is made available by the lawyer/law firm publisher for educational purposes ONLY as well as to give you general information, not to provide specific legal advice. This article should not be taken in any way as legal advice on your specific legal matter.

Please contact me at 619-737-3919 to schedule a 30-minute initial complimentary consultation to discuss your personal situation.

NOTICE: This Blog/Web Site constitutes advertisement materials and is meant for the residents of the State of California only. By using this Blog/Web Site you understand that there is no attorney client relationship between you and the Blog/Web Site publisher. The materials presented in the Blog/Web Site may not reflect the most current legal developments, verdicts or settlements. These materials may be changed, improved, or updated without notice. The Law Office of Maria Rogova is not responsible for any errors or omissions in the content of this Blog/Web Site or for damages arising from the use or performance of this Blog/Web Site under any circumstances.

 

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About

Ms. Rogova, who is bilingual English-Russian, earned her law degrees from American and Russian universities. She earned her Russian law degree in 2003 and practiced law in Russia for over 7 years. Ms. Rogova has a broad range of legal experience in Russia such as contract litigation, corporate law, arbitration, real estate, and labor law. In addition to her law degree, in 2007 Ms. Rogova earned a Master of Finance degree.

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