#3 We Have a Premarital Agreement – What Does That Mean?

30 Nov #3 We Have a Premarital Agreement – What Does That Mean?

#3 We Have a Premarital Agreement – What Does That Mean?

dollar-bill.thumbnailThis continues the series “I’m Filing, My Spouse Isn’t-What Happens?” The series is introduced here.

I am assuming when you ask this that your premarital agreement is in writing, and properly executed under the laws of the appropriate state. Great! This will help identify what you and your spouse declared at the time of the agreement to be your individual and separate property. It’s a great start. It doesn’t end there, however. Then we’ll look at what you did and whether your actions after the marriage changed the legal nature of the property. This means that property that was once separate can be made into community property. It also means that there can be community liens on what is otherwise separate property.

Earlier posts in this series are #1 Must the Non-Filing Spouse’s Information Be Disclosed?, #2 What if My Spouse’s Assets Are Separate – Must They Be Disclosed?

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.

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