Fill and Sign the Ca Prenuptial Agreement Form

ACKNOWLEDGEMENT OF RIGHTS AND OBLIGATIONS RE: PREMARITAL AGREEMENT BETWEEN       AND       . I       , hereby acknowledge my understanding of the following rights and obligations of the parties to a Premarital Agreement under the laws of the State of California: 1. ASSETS California is a community property state. All property acquired by a married person during their marriage while living in California is presumed to be community property. Upon death or divorce, the value of all community assets is divided equally in terms of value between both spouses. Both marital partners are equal agents of the partnership, and able to bind the partnership if acting within the scope of his or her authority and if acting for the joint benefit of the family. The California community property system adds to joint ownership the right of equal management and control. All benefits which come from either spouse's employment during the marriage are community property to the extent they are earned and/or accrued during the marriage. This can include retirement benefits, pensions, savings plans, stock purchase plans, 401k plans, sick and vacation pay, and stock options. If the benefits are not fully vested at the time of a separation, an allocation is made between the community and separate interests. Separate property is property: a) owned before marriage, b) acquired during marriage by gift or inheritance, or c) acquired after separation. Earnings, income or appreciation from separate property sources remains separate property. If there is a dispute about whether an asset is separate property, you must have proof that you acquired the separate property in one of these ways, and have documentation to trace the separate property back to the original source. If you use separate property to acquire property in joint names during the marriage, you are only entitled to reimbursement for the amount of the separate property contributed (no interest or appreciation) and again, you must be able to trace the contribution back to the separate property source. If you own a business prior to marriage, the community may acquire an interest in the business if the business increases in value during the marriage, depending upon the reason for the increase in value. If you own a home in your own name and community funds are used for mortgage payments or to pay down the principal on a loan, the community will acquire an interest in the appreciation in the value of the property, but only in the ratio that the amount paid on principal bears to the total purchase price. The community will also be reimbursed for the amount paid down on principal. The way you hold title to real property will affect disposition of property upon death of a spouse. For example, property held as joint tenants will automatically become the property of the surviving spouse. Property held as community property or tenants in common will be distributed according to the will or trust of the spouse, or according to the laws governing intestate succession in the absence of a will or a trust. 2. DEBTS - 1 - Debts incurred during the marriage are presumed to be community property. The only debts which would normally not be community property are debts which are completely unrelated to the community (such as debts related to one person's separate property, support obligations, gifts or expenses related to a romantic relationship other than the marriage, or criminal acts which did not have a financial benefit to the community). These means that a spouse could incur a debt for a purpose the other spouse does not approve and it would still be a community debt. Debts incurred before marriage remain the responsibility of the person who originally incurred them. If community funds are used to pay these debts, sometimes there is a right of reimbursement for the community and sometimes not (special rules apply depending upon the type of debt and other assets/income which was available to pay it.) 3. DIVISION OF ASSETS AND DEBTS UPON DIVORCE In dissolution of a marriage, the court is empowered to allocate assets of comparable value to the former husband and wife to make the overall division of the gross marital estate substantially equal. It need not divide each asset. For example, when dividing a business might impair its value, the court will generally preserve the ongoing business interests if the court can still make an overall equal division of the marital estate. If you own a home together and one spouse continues to reside in the home after separation, that spouse could owe "rent" to the community, subject to an offset for payment of the costs of the home. If one spouse pays on community debts after separation, he or she will generally be reimbursed for those payments (the biggest exception would be if the debt payments are in lieu of support.). 4. SUPPORT Each spouse owes a duty of support to the other. Support can be ordered after separation. The amount and duration of support is set by the court and can depend on many factors. Spouses are permitted to waive the right to support upon divorce in a premarital agreement. Certain conditions must be met, including that each spouse be represented by an attorney for the premarital agreement. In addition, a court could later order spousal support even if it was waived if it would be unconscionable not to order it. 5. CHILDREN Each parent is entitled to custody of the children. Upon a separation, the court determines custody according to the best interest of the child. Child support is payable according to a standardized formula. Premarital agreements cannot waive or change the authority of the court to make orders of the court regarding children. 6. PREMARITAL AGREEMENTS Under California law, the property rights of husband and wife prescribed by statute may be altered by a premarital agreement. A premarital agreement may be recorded in the office of the recorder of each county in which real property affected by the agreement is situated if the premarital agreement is executed and acknowledged or proved in the manner that a grant of real property is required to be executed and - 2 - acknowledged or proved. Recording or nonrecording of a premarital agreement or other marital property agreement has the same effect as recording or nonrecording of a grant of real property. Information on the enforceability of premarital agreements is contained in the “Premarital Agreement Disclosure” that was received and signed concurrently with this “Acknowledgement of Rights and Obligations.” 7. BY EXECUTING THE PREMARITAL AGREEMENT YOU WILL BE WAIVING ALL OF THE FOLLOWING RIGHTS: You will be waiving your right for the separate property used by one of you to purchase real property you own together not to share in the appreciation or depreciation of such real property. Instead of only community property contributions to the equity in real property appreciating, the separate and community property used to purchase a residence shall appreciate or depreciate together in proportion to the equity of the property. You will also be waiving your right to spousal support in any amount and for any period of time that a court might have deemed just and reasonable. This statement of Rights and Obligations has been provided by       . I,       , hereby acknowledge receipt of this Declaration of Rights and Obligations on this the       day of       , 20       Signature       Type or Print Name - 3 - ADVISEMENT AND WAIVER OF RIGHT TO INDEPENDENT COUNSEL RE: PREMARITAL AGREEMENT BETWEEN       AND       . NAME OF DECLARANT:       . RIGHT TO BE REPRESENTED BY AN ATTORNEY. I have been advised to seek independent counsel regarding a proposed premarital agreement between myself and       . I am either currently in a position to afford independent counsel of my own choice or, if I can not afford independent legal counsel, I understand that       has agreed to compensate me for the cost of independent counsel to act solely under my direction and control. WAIVER. I understand that I am giving up the rights stated above and hereby waive the right to independent counsel. Signature of Declarant       Type or Print Name State of California County of       On       before me,       (here insert name and title of the officer), personally appeared       , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature (Seal) PREMARITAL AGREEMENT DISCLOSURE AS STATED BELOW, IT IS VERY IMPORTANT THAT YOU BE REPRESENTED BY INDEPENDENT COUNSEL, OR WAIVE SUCH RIGHT. SEVEN (7) DAYS MUST PASS BEFORE EXECUTION OF THE AGREEMENT AS PROVIDED BELOW. NOTICE: The parties understand fully the laws of California dealing with the validity of premarital agreements, including, but not limited to the following: (a) A premarital agreement is not enforceable if the party against whom enforcement is sought proves either of the following: (1) That party did not execute the agreement voluntarily. (2) The agreement was unconscionable when it was executed and, before execution of the agreement, all of the following applied to that party: (A) That party was not provided a fair, reasonable, and full disclosure of the property or financial obligations of the other party. (B) That party did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided. (C) That party did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party. (b) An issue of unconscionability of a premarital agreement shall be decided by the court as a matter of law. (c) For the purposes of subdivision (a), it shall be deemed that a premarital agreement was not executed voluntarily unless the court finds in writing or on the record all of the following: (1) The party against whom enforcement is sought was represented by independent legal counsel at the time of signing the agreement or, after being advised to seek independent legal counsel, expressly waived, in a separate writing, representation by independent legal counsel. (2) The party against whom enforcement is sought had not less than seven calendar days between the time that party was first presented with the agreement and advised to seek independent legal counsel and the time the agreement was signed. - 1 - (3) The party against whom enforcement is sought, if unrepresented by legal counsel, was fully informed of the terms and basic effect of the agreement as well as the rights and obligations he or she was giving up by signing the agreement, and was proficient in the language in which the explanation of the party's rights was conducted and in which the agreement was written. The explanation of the rights and obligations relinquished shall be memorialized in writing and delivered to the party prior to signing the agreement. The unrepresented party shall, on or before the signing of the premarital agreement, execute a document declaring that he or she received the information required by this paragraph and indicating who provided that information. (4) The agreement and the writings executed pursuant to paragraphs (1) and (3) were not executed under duress, fraud, or undue influence, and the parties did not lack capacity to enter into the agreement. (5) Any other factors the court deems relevant. WE HAVE FULLY READ AND UNDERSTAND THE ABOVE LAWS AND WERE PROVIDED THIS DISCLOSURE, A COPY OF THE PROPOSED PREMARITAL AGREEMENT AND WERE ADVISED TO SEEK INDEPENDENT COUNSEL AT LEAST SEVEN (7) DAYS BEFORE EXECUTION OF THE ACTUAL AGREEMENT . HUSBAND TO BE       WIFE TO BE       DATE SIGNED MUST BE AT LEAST SEVEN DAYS BEFORE SIGNING THE AGREEMENT. - 2 - PREMARITAL AGREEMENT THIS PREMARITAL AGREEMENT (“Agreement”), made this       day of       , 20       , is between       (“Husband”), having an address at       , and       (“Wife”),having an address at       . W I T N E S S E T H WHEREAS, the parties are about to contract marriage and execute this Agreement in contemplation of marriage to be effective upon their marriage in accordance with the laws of the State of California, including any Uniform Premarital Agreement Act, or other applicable laws, adopted by the State of California; WHEREAS, the parties desire to alter their property rights prescribed by California statute for married couples by entering this Agreement regarding certain properties, responsibilities, duties and obligations including but not limited to any interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings; WHEREAS, neither party has been married nor has children; and WHEREAS, the parties have furnished each other with a financial statement which each party acknowledges is a full and complete disclosure of substantially all of the real and personal property now owned by him or her and agree that the values are an estimate by him or her of the approximate present value of the property. All property listed is now and shall continue to be separate properties of the respective parties. Originals or copies of said financial statements are attached hereto as Exhibits "A" and "B." NOW, THEREFORE, the parties agree as follows: 1. California community property law shall apply to the parties as of their marriage except as provided in this Agreement. 2. In the event of dissolution of the marriage or death of a party, any personal property used for a downpayment on real property shall share in the appreciation or depreciation of such real property in proportion to its share in the equity of the real property. 3. Title to any property purchased by the parties shall be held as tenants in common. The amount of each party’s undivided interest in any such co-owned real property shall be in proportion to their contribution toward equity in the property. Neither party shall be permitted to sell their interest in an y real property the parties own together without the signature of both parties. 3. To the extent permitted by law, both parties hereby waive their right to any claim of spousal support in any amount and for any period of time that a court might have deemed just and reasonable . 4. This Agreement shall be controlled, construed and given effect by and under the laws of the State of California. This provision shall continue in effect even if the parties are domiciled in a state other than California. It is the intent of the parties that this Agreement be enforced to the fullest - 1 - extent permissible under applicable laws and public policies. The invalidity, illegality, or unenforceability of any particular provision of this Agreement shall not affect the other provisions, and this Agreement shall be construed in all respects as if such invalid, illegal, or unenforceable provision had been omitted. 5. This Agreement constitutes the entire agreement between the parties pertaining to its subject matter and it supersedes all prior contemporaneous agreements, representations and understandings of the parties. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both parties. 6. No waiver of any provision of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver. 7. This Agreement shall be binding upon the parties hereto and upon their respective executors, administrators, legal representatives, successors, and assigns. 8. This Agreement may only be amended or revoked by written amendment signed by both parties. 9. Each party further agrees and affirms: (a) I executed this Agreement voluntarily; without duress, fraud, or undue influence; (b) I do not consider this Agreement unconscionable; and (c) prior to execution of this Agreement, I was provided a fair and reasonable disclosure of the property and financial obligations of the other party. AGREED: HUSBAND (as used in this Agreement)       WIFE (as used in this Agreement)       APPROVED       Attorney for Husband APPROVED       Attorney for Wife Note: This Agreement must be executed before a notary public. State of California County of On before me, (here - 2 - insert name and title of the officer), personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature (Seal) State of California County of On before me, (here insert name and title of the officer), personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature (Seal) - 3 - Financial Statement Disclosure Information This financial statement disclosure is for use in connection with a premarital agreement and should be completed accurately and completely. This statement should contain a full disclosure of all your assets and liabilities. You should initial each page and sign the last page. Your prospective spouse should also sign the last page acknowledging receipt. Both persons must complete a separate financial statement and provide it to the other party. Two forms are enclosed, one for each party. This form can be completed in Word or printed and completed by hand. If you require additional space, please attach additional pages for the sections you need to expand. PERSONAL FINANCIAL DISCLOSURE STATEMENT ****************************************************** To:       Date:       Individual Information Name:       Address:       City:       State:    Zip       Occupation:       Phone:       Current Assets Current Liabilities Cash on Hand or in Banks       Notes Payable (Secured)(Schedule F)       Other Cash:       Notes Payable (Unsecured)(Schedule G)       Real Estate (other than residence Schedule A)       Real Estate Mortgages Payable (Schedule H)       Residence       Auto Loans (Schedule I)       Motor Vehicles (Schedule B)       Unpaid Taxes and Interest       US Government Securities (Schedule C)       Due to Brokers       Non-Marketable Securities (Schedule D)       Open Accounts       Stocks (Schedule E)       Credit Cards (List):       Other Personal Property       Visa       Life Insurance Cash Value                   Business IRA                   Notes Receivable                   Other Assets: Other: Personal IRA                   Antiques                   Partnership Assets       Residential Mortgage                   Total Liabilities                               TOTAL OF ALL ASSETS                   LESS TOTAL OF ALL LIABILITIES                   NET WORTH       Total Assets       Individual Income Information (Annual) Salary       Bonus       Commissions       Dividends       Rental Income       Other Income (List):                         Total Income       Contingent Liabilities Guarantor, Co-maker       Lease or Contracts       Legal Claims       Other:             SCHEDULE “A” REAL ESTATE Description of Real Estate Cost Market Value Date Acquired Financial Statement page - 1 - Initials: _________                                                 Totals       SCHEDULE “B” MOTOR VEHICLES Description of Motor Vehicles Cost Value                                     Totals             SCHEDULE “C” U.S. GOVERNMENT SECURITIES Description of Stock or Bond Date Acquired Par Value Market Value                                                 Totals       SCHEDULE “D” NON MARKETABLE SECURITIES Description Date Acquired Par Value Market Value                                                 Totals       SCHEDULE “E” STOCKS Company Shares Date Acquired Par Value Market Value                                                             Totals       SCHEDULE “F” NOTES PAYABLE SECURED Description Date Balance Payment (m/yr)                                                 Totals             SCHEDULE “G” NOTES PAYABLE UNSECURED Description Date Balance Payment (m/yr)                                                 SCHEDULE “H” REAL ESTATE MORTGAGES Description Date Balance Payment (m/yr)                                                 Totals             SCHEDULE “I” AUTO LOANS Description Date Balance Payment (m/yr)                                                 Totals             CERTIFICATION TO FINANCIAL STATEMENT Financial Statement page - 2 - Initials: _________ I certify this Statement to be true and correct as of the date indicated; that this financial statement is a full and fair disclosure of my assets; and that I provided a true and correct copy of this financial statement to ___________________________________ on ___________________. Signature Date: _______________________ I ___________________________________ acknowledge receipt of this financial statement and disclosure. ________________________________________ Signature Date: ______________________ Financial Statement page - 3 - Initials: _________ PERSONAL FINANCIAL DISCLOSURE STATEMENT ****************************************************** To:       Date:       Individual Information Name:       Address:       City:       State:    Zip       Occupation:       Phone:       Current Assets Current Liabilities Cash on Hand or in Banks       Notes Payable (Secured)(Schedule F)       Other Cash:       Notes Payable (Unsecured)(Schedule G)       Real Estate (other than residence Schedule A)       Real Estate Mortgages Payable (Schedule H)       Residence       Auto Loans (Schedule I)       Motor Vehicles (Schedule B)       Unpaid Taxes and Interest       US Government Securities (Schedule C)       Due to Brokers       Non-Marketable Securities (Schedule D)       Open Accounts       Stocks (Schedule E)       Credit Cards (List):       Other Personal Property       Visa       Life Insurance Cash Value                   Business IRA                   Notes Receivable                   Other Assets: Other: Personal IRA                   Antiques                   Partnership Assets       Residential Mortgage                   Total Liabilities                               TOTAL OF ALL ASSETS                   LESS TOTAL OF ALL LIABILITIES                   NET WORTH       Total Assets       Individual Income Information (Annual) Salary       Bonus       Commissions       Dividends       Rental Income       Other Income (List):                         Total Income       Contingent Liabilities Guarantor, Co-maker       Lease or Contracts       Legal Claims       Other:             SCHEDULE “A” REAL ESTATE Description of Real Estate Cost Market Value Date Acquired Financial Statement page - 1 - Initials: _________                                                                   Totals       SCHEDULE “B” MOTOR VEHICLES Description of Motor Vehicles Cost Value                                     Totals             SCHEDULE “C” U.S. GOVERNMENT SECURITIES Description of Stock or Bond Date Acquired Par Value Market Value                                                 Totals       SCHEDULE “D” NON MARKETABLE SECURITIES Description Date Acquired Par Value Market Value                                                 Totals       SCHEDULE “E” STOCKS Company Shares Date Acquired Par Value Market Value                                                             Totals       SCHEDULE “F” NOTES PAYABLE SECURED Description Date Balance Payment (m/yr)                                                 Totals             SCHEDULE “G” NOTES PAYABLE UNSECURED Description Date Balance Payment (m/yr)                                                 SCHEDULE “H” REAL ESTATE MORTGAGES Description Date Balance Payment (m/yr)                                                 Totals             SCHEDULE “I” AUTO LOANS Description Date Balance Payment (m/yr)                                                 Totals             CERTIFICATION TO FINANCIAL STATEMENT Financial Statement page - 2 - Initials: _________ I certify this Statement to be true and correct as of the date indicated; that this financial statement is a full and fair disclosure of my assets; and that I provided a true and correct copy of this financial statement to ___________________________________ on ___________________. _________________________________ Signature Date: ___________________________ I ___________________________________ acknowledge receipt of this financial statement and disclosure. ________________________________________ Signature Date: ___________________________________ Financial Statement page - 3 - Initials: _________