Wednesday, December 16th, 2009

California Prenup Enforcement Basics

Some couples sign premarital agreements that include terms they know aren’t enforceable.  They do this because they wish to memorialize agreements in writing, whether or not California courts will uphold those agreements.

Other couples care mostly about protecting assets in case of a future breakup, and so enforcement is a top priority.

Either way, couples should consider the three prenup enforcement basics.  First, both parties absolutely must be represented by an attorney (even if one of the parties is an attorney themselves).  The case law has been quite clear on this score: when one party doesn’t know what they’re getting into, the prenup can be overturned.  Don’t risk it.  Get counsel.

Second, give the process time.  You must wait 7 days between delivering the final draft of your agreement to your fiancé, and the signing of that that draft.  Also, it’s best to begin negotiations before the wedding invitations go out.

Third, full disclosure of your financial picture is vital.  When in doubt, over disclose.  Each of you needs to know what you’re getting into if you want your agreement to be fair and enforceable.

Tuesday, September 1st, 2009

Getting A Divorce? Don’t Drag Your Heels! – Tips To Simplify Your Divorce

It goes without saying that a divorce can be one of the most difficult experiences in your life. So why make it any harder?

I see divorce clients every day. The first thing they often tell me is “I just want this to be over with.”   So here are some simple tips to make that happen:

First, get organized! A divorce requires delivery of nearly all your financial records to your spouse. Even if you and your spouse have been sharing all the accounts, you will still need to put together copies of statements from every financial account, including bank statements, credit card statements, retirement accounts, pay stubs, etc. Start collecting PDF copies of all these statements now. If you stay organized, you can streamline and speed up.

Second, get your paperwork done! The divorce process requires a great deal of paperwork. The faster you work with your attorney to complete the paperwork, the faster you can finalize. The single (so to speak) most time-consuming task in a divorce is dividing community property. This is a difficult task, and can require lengthy negotiations. The negotiation process can’t even begin, however, until your attorney knows what assets you have. That means you need to complete your asset disclosure paperwork! The longer you wait to deliver those documents, the longer your divorce will take.

Third, reach a settlement! The number one most efficient way to wrap up your divorce is to reach a settlement.  While this is not always possible, if you are willing to negotiate and  reach a fair settlement, you will save yourself a great deal of time and money.  A good divorce attorney will help you understand what a fair settlement looks like.

Competent divorce attorneys will do everything in their power to speed the divorce process along, but remember, you are the ultimate decision maker. Don’t drag your heels!