The 7-day rule for prenups in California is a relatively new law that requires the party receiving the final prenuptial agreement to wait seven days before signing the agreement.
CONSULTATIONS FOR PRENUPS ARE FREE! GIVE US A CALL!
California’s 7 Day Hold on Prenups
The new law that came into effect on January 1, 2020, in California’s Family Code § 1615 (c)(2)(B), provides that
(B) For an agreement executed on or after January 1, 2020, the party against whom enforcement is sought had not less than seven calendar days between the time that party was first presented with the final agreement and the time the agreement was signed, regardless of whether the party is represented by legal counsel. This requirement does not apply to non-substantive amendments that do not change the terms of the agreement.
For prenups that were drafted prior to January 1, 2020, Family Code § 1615 (c)(2)(A) provides that for an agreement executed between January 1, 2002, and January 1, 2020, the party against whom enforcement is sought had not less than seven calendar days between the time that party was first presented with the final agreement and advised to seek independent legal counsel and the time the agreement was signed. This requirement does not apply to non-substantive amendments that do not change the terms of the agreement.
In short, if your prenup is currently being drafted, there must be a 7 day hold on signing the prenup from the date of the final draft to the date of signing. So, the final draft of the prenup must be confirmed at minimum 7 days prior to the date of execution.
If your prenup was drafted prior to January 1, 2020, then there was a 7 day hold from the date of first being presented with the prenup and the date of execution.
In California, the “7-day rule” is an important aspect of prenuptial agreements. This rule requires that a party must have at least seven days to review the prenuptial agreement before signing it if they are not represented by their own legal counsel. This is intended to ensure that the agreement is entered into voluntarily and with full understanding of its terms. Key points about the rule include:
1. Voluntariness: The rule is designed to prevent coercion and ensure that both parties enter into the agreement willingly.
2. Legal Representation: If both parties have independent legal representation, the 7-day rule may not apply in the same way. It’s crucial for each party to have the opportunity to consult with their own attorney.
3. Full Disclosure: Both parties must fully disclose their assets, debts, and other financial information for the prenup to be valid.
4. Understanding of Terms: The parties must understand the terms and effects of the agreement. This often means that complex legal jargon should be explained in plain language.
CONSULTATIONS FOR PRENUPS ARE FREE! GIVE US A CALL!
Related articles: Prenuptial Agreement
Los Angeles and California Prenuptial Agreement
California Prenups of High Net Worth
California Prenup Queens Word to the Wise for the “OutSpouse”