Fill and Sign the Prenuptial Premarital Agreement 481376443 Form

- 1 - 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. California is a community property state. Equal ownership of community property assets has never been dependent upon a determination of labor or talent. Men and women are considered equal partners in a marriage in California. Each shares marital property equally regardless of whether their assets were earned by one or the other. Marr iage extends to all of the property earned by either partner during the marriage. Even if a husband earns a substantial income and the wife's role is that of a homemaker, whether she has the primary responsibility of raising the couple's children is irrele vant. She has a continuing half ownership of the marital earnings from the beginning of the marriage and from the time of acquisition of property attained during the marriage. Both marital partners are an equal agent of the partnership, binding it if acti ng 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. 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. 2. Under California law, future spouses may modify their legal relationship by entering into a premarital a greement. By executing a Premarital Agreement you will be waiving certain rights and privileges normally available to you as a married individual. California statutes provide for the following rights and obligations on the parties considering t he execution of a premarital agreement: a. The right and obligation of the parties to give and receive fair and adequate disclosure of the property and financial obligations of the parties prior to the execution of a premarital agreement. b. The right to be represented by independent counsel of your choice. c. The right to a period of consideration and examination consisting of no less than seven days between the receipt of the completed Premarital Agreement containing the required disclosure from the parties and the time the Agreement is to be executed. d. The right to have the Premarital Agreement and this Acknowledgment of Rights - 2 - and Obligations provided in a language in which you are proficient. e. The right to question or request additi onal information regarding any disclosed assets or financial obligation of the other party to the Agreement and the obligation to provide such additional information concerning disclosure of assets and obligations. f. The right to consider, evaluate, ques tion, and execute the Premarital Agreement free of duress, fraud, or under influence. 3. By executing the premarital agreement you will be waiving all of the following rights: a. Division of community and quasi -community property; b. Support to either s pouse in any amount and for any period of time that the court deems just and reasonable, based on the standard of living achieved during the marriage; and c. The award of marital assets by the court on such conditions as it feels proper to provide for a s ubstantially equal distribution of property. 4. This statement of Rights and Obligations has been provided by ________________________ . I, ______________________________ , hereby acknowledge recei pt of this Declaration of Rights and Obligations on this the ______ day of __________________ , 20 ______ Signature Type or Print Name ADVISEMENT AND WAIVER OF RIGHT TO INDEPENDENT COUNSEL RE: PREMARITAL AGREEMENT BETWEEN ________________________ AND ________________________ NAME OF DECLARANT: ______________________________ RIGHT TO BE REPRESENTED BY A LAWYER. I und erstand that I have the right to be represented by independent counsel of my own choice in connection with a proposed premarital agreement between myself and _________________________ . I am either currently in a position to afford independent counsel of my own choice or understand that independent counsel provided at the expense of ______________________________ , but acting solely un der my direction and control, is available if I so desire. 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 Date: ________________________ State of California County of On before me, (here insert name and title of the officer), personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instru ment 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 instrumen t. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature (Seal) - 1 - 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 pa rties 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 e ither 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 prema rital 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, a fter 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. - 2 - (3) The party against whom enforcement is sought, if unrepr esented 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 befo re 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 p aragraphs (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 WE RE 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 . ___________________________________ ______________________________ First Party (“Wife”) Second Party (“Husband”) DATE: _____________________ DATE: __________________ DATE SIGNED MUST BE AT LEAST SEVEN DAYS BEFORE SIGNING THE AGREEMENT. - 1 - PREMARITAL AGREEMENT THIS AGREEMENT, made this ____ day of ________________ , 20 ____ , between ___________________________ (Name), of ______________________________ (Address), _____________ (State) ("first party or Wife"), and _____________________ (Name), of ___ _________________________ (Address), _____________ (State) ("second party or Husband"), W I T N E S S E T H WHEREAS, Husband (check all that apply): has previously been married; has a child or children; has not been married; and Wife (check all that apply): has previously been married; has a child or children; has not been married. The parties desire to enter into this agreement prior to their contemplat ed marriage. WHEREAS, the parties hereto have accumulated separate estates; and 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; and WHEREAS, the parties desire to enter into an 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; and W HEREAS, 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 estimat e 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 - 2 - attached hereto as Exhibits "A" and "B"; and WHEREAS, the parties desire to express in writing their agreement that, except as hereinafter specifically provided, their marriage shall not in any way change their rights, or the rights of their heirs (exclusive of the parties) or of their d evisees or legatees, in the real and personal property owned or hereafter acquired by each of the parties and that said rights shall be governed by the terms of this agreement; and NOW, THEREFORE, in consideration of the parties and of their mutual promi ses and agreements, they agree one with the other as follows: (1) Each of the parties shall have full control of his or her own separate property, real, personal and mixed, wherever the property is located. Each of the parties shall have and hereby is given the right to lease, sell, convey, mortgage or otherwise dispose of their separate property and receive all monies, rents, issues, income and profits thereof without any restrictions whatever and without interference from the other party. Each of the parties shall pay his or her own debts whenever contracted and in no case shall either party be held liable for the debts of the other parties in any way. (2) Except as otherwise expressly provided, each of the parties hereby waives, relinquishes, conv eys, quitclaims, bars, discharges, surrenders and releases, and hereby agrees to waive, relinquish, convey, quitclaim, bar, discharge, surrender and release, to the other all of the following: (a) Any and all of his or her right, title and interest of eve ry kind and description, which he or she may have, acquire, enjoy or be seized by reason of, or on or after, their marriage, as the wife, husband, widow or widower of the other party, in the separate property of the other party, whether real, personal and mixed and wherever located; and (b) Any and all rights to any property of the other party titled in that other parties sole name, whether before or after the marriage; and (c) Any and all property acquired by the other party by inheritance or other means ; and (d) Any and all rights, if any, to all or a portion of the property of the other party whether by way of dower, courtesy, homestead, widow's allowance, statutory share or provision, descent, community property inheritance, succession or otherwise; (e) His or her right, if any, granted to or vested in him or her, by statute or otherwise, to renounce, or to elect to take against, the provisions of the other party's will or any codicil thereto; and (f) His or her right, if any, granted to or vested in him or her by statute or otherwise to act as executor or administrator of the other party's estate. Except as otherwise expressly provided, it is the intent of the parties that this paragraph - 3 - shall be construed so that each party may deal with his or h er property and any trust in which he or she may have an interest as if their marriage had not taken place, and on the death of either party his or her estate and any trust in which he or she may have an interest will be administered, descend and be distri buted in exactly the same way and to the same heirs, next of kin, devisees or legatees as if the other party had predeceased the party so dying. Nothing contained in this paragraph or in this agreement, however, is intended to preclude either party from v oluntarily making provision for, or granting powers or rights to, the other party in and by the formers last will, a codicil thereto or otherwise. (3) (check One) The parties have each executed a Last Will and Testament, copies of which are attached hereto as Exhibits and . The parties agree that these Wills are in conformity with the provisions of this agreement and as consideration for this agreement, each party does hereby waive any and all objection to the terms of the said Last Will and Testament of the other and each party agrees not to contest or renoun ce the terms of thereof. Likewise, each party agrees not to contest or renounce any future Wills or Codicils, which are in conformity with the terms of this agreement. Initials if Selected: _______ ______ __ OR The parties shall not change their existing Will, if any, or make a new Will at this time, but any new Will executed shall be in conformance with the prov isions of this agreement. Initials if Selected: _______ _________ (4) The fact that either party (without being obligated to do so) may give, devise or bequeath to the other party property or an interest therein, or otherwise confer rights or powers on the other party, in trust or by gift or will, shall not be construed as a waiver of any provision hereof or as evidence that there is or was an agreement or understanding between the parties other than as specifically expressed herein. (5) Each party ag rees, on behalf of himself or herself and of his or her heirs, executors, administrators and assigns, that he, she or they, at the request of the other party or the latter's heirs, executors, administrators and assigns (but at the cost of the other party o r his or her heirs, executors, administrators, and assigns), will make, do, execute, acknowledge and deliver any and all such further or other acts, deeds and instruments as shall be appropriate, necessary or desirable to carry in effect the intent, purpos e and provisions of this agreement without question or delay, except that neither party shall be obliged to sign any mortgage, note, bond or other instrument which may subject him or her, or his or her estate and property, to personal liability. (6) In s elling, assigning, granting, releasing, conveying or otherwise dealing with the property of either party, the party whose property is being so dealt with shall be and hereby is constituted the other party's attorney -in-fact and as such shall have full powe r in the name of such other party or in the joint names of both parties to join in the contemplated transaction and execute documents to effect it on behalf of such other party, independently and without the consent or - 4 - privity of such other party, to the s ame extent and as fully as if their marriage had not taken place. (7) During the course of the marriage, all property acquired by each party in their own name shall be deemed to be part of their separate estate and by the terms hereof, each party hereby waives and relinquishes all claim to the separate estate of the other. Likewise, all property acquired during the marriage in the joint name of both parties shall be deemed to be part of their joint estates and thereby evidence their intent to grant the p owers and rights to the parties as to said jointly owned property as is provided to spouses by operation of law. (8) The parties agree that each party shall provide for the payment of their individual health care, convalescence and funeral expenses out of their separate estate so as not to be a financial burden on each other. (9) Despite any other provisions of this instrument, this agreement shall not affect in any way the parties' rights, titles, powers, duties, discretions, immunities and interest in any property owned in joint tenancy or entirety with rights of survivorship, which they may hereafter acquire. (10) To the extent permitted by law, this agreement shall govern the rights and obligations of the parties in the event of death of either or both parties, separation or divorce. In the event of divorce, the parties agree this agreement shall be binding on both parties and shall be incorporated into any divorce decree. (11) Not applicable or The parties further agree th at in the event of divorce, the following additional provisions shall apply notwithstanding the other provisions of this agreement: (a) The Wife shall be entitled to receive property of Husband described as follows: [none or list property] (b) The Husband shall be entitled to receive property of Wife described as follows: [none or list property] (c) The following property shall be sold and the proceeds, less expenses divided equally between the parties: [none or list property] (d) The Husband shall pay a lump sum settlement to Wife described as follows: [none or list property] (e) The Wife shall be pay a lump sum settlement to Husband described as follows: [none or list property] (f) The marital domicile shall be [occupied by Wife until her death or occupied by Husband until his death or sold and the proceeds divided equally between Husband and Wife. (g) Both parties waive the right to alimony and property settlement, except as - 5 - otherwise provided herein. (h) Both parties waive all community property rights. (12) This agreement shall be controlled, construed and given effect by and under the laws of the State of California. It is the intent of the parties that the Agreement be enforced to the fullest 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. (13) 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 all parties. (14) No waiver of any provision of this Agre ement 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. (15) This Agre ement may be executed in any number of copies, each of which shall be deemed an original and no other copy need be produced. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the ide ntity of the person or persons may require. (16) This Agreement shall be binding upon the parties hereto and upon their respective executors, administrators, legal representatives, successors, and assigns. (17) This agreement may only be amended or revo ked by written amendment signed by both parties. (18) Each party further agrees and affirms as follows: (a) That the party did execute the agreement voluntarily; and (b) That this agreement is not unconscionable when it was executed; and (c) Bo th parties were provided prior to execution of this agreement a fair and reasonable disclosure of the property or financial obligations of the other party; (d) That he and she did have, or reasonably could not have had, an adequate knowledge of the prop erty or financial obligations of the other party. - 6 - The parties hereby execute this agreement in several counterparts, any executed copy of which shall be considered for all purposes as an original, on the day and year above written. _____ _______________________ FIRST PARTY (“WIFE”) _____________________________ SECOND PARTY (“HUSBAND”) Approved: Attorney for First Party: ___________________________________ Attorney for Second Party: _______________________________ __ Note: This agreement must be executed before a notary public. State of California County of On before me, (here insert name and title of the officer), personally appeared , who 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/t heir signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature (Seal) State of California County of - 7 - On before me, (here insert name and title of the officer), personally appeared , who prove d 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 signat ure(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature (Seal)