Written by Indy G. Colbath, Esq.
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.
When a Community Property asset was initially purchased with the Separate Property of one spouse, the contributing spouse is deemed to have made a contribution to the acquisition of a Community Property asset. The contributing spouse may be entitled to a Reimbursement for his/her separate property contribution. (Family Code section 2640).