In any divorce action involving children, the most important decisions will always revolve around the care and well-being of the kids. For most of us, our children are the most significant elements in our lives. With that in mind, it is easy to understand why child custody disputes are often the most hotly contested issues in any divorce.
California allows prospective spouses to contract their future relationship and marital property rights, including whether or not a community estate will be created during the marriage. A prenuptial agreement can be fairly basic, addressing only a few potential issues, or can be extremely comprehensive. Prenuptial agreements become effective on the date of marriage and are enforceable without consideration; however, for an agreement to be valid, it must be in writing and signed by both parties. Also, it is imperative that both parties enter the agreement voluntarily and with fair and reasonable disclosure of the other party's assets and obligations.
Generally, under California law any property that is acquired during a marriage is considered community property. In an earlier blog post, we discussed a scenario in which a divorcing spouse might be able to keep certain assets considered as separate property from a marital estate. However, it is more likely that most couples will share equal ownership of any property and assets they have acquired throughout their marriages.