A prenuptial agreement can help save you a lot of trouble in the future should your marriage end. It also helps set expectations and can make it easier for you and your spouse to discuss financial matters because it opens that door for you.
Since your assets can become marital property after marriage, a prenuptial agreement helps to secure your ownership over separate property. When creating an agreement, California Legislative Information explains there are specific things you can and cannot include along with specific situations that could invalidate the agreement.
You must create your prenuptial agreement when you are considering marriage and prior to the marriage. It must be in writing and you and your fiancé must sign it of your own free will.
You can cover anything in the agreement as long as it is legal and does not violate public policy. You can cover any assets, rights and obligations of each party during the marriage along with the right to control assets. You can choose which laws will govern the agreement and make decisions about property division in the event of a divorce. You can also include estate planning information.
You must each voluntarily agree to the specifics in the document. You must knowingly consent to the details. You also must both offer a fair disclosure of y our financial situation and property. Finally, you have to give seven days from the time of presenting the agreement to the time of signing it.
While your prenuptial agreement may cover many things, it cannot include details about child support. It also cannot cover spousal support unless the party that would receive payment had proper legal representation.