What can a Prenuptial Agreement do for me?
Divorce courts are in the business of handing out orders awarding property owned between spouses and assigning obligations incurred between them.
Many marriage partners are unaware that they can limit their exposure to adverse property or debt division awards by entering into a written contract with their spouse that conforms with the Uniform Premarital Agreement Act adopted in Utah. A validly negotiated and executed prenuptial agreement controls how interests in property, debts, and spousal support are awarded in a potential divorce. This may include all interests, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings.
This unique aspect of divorce law can be a useful tool in certain situations where one spouse is coming into the marriage with substantial real estate, investments, or other property, and does not intend to change the character of that property. If the intended spouse openly agrees to this condition, the divorce court will not question the motivations for doing so.
Utah law provides that a premarital agreement shall be in writing and signed by both partners. It is enforceable by the act of marriage without additional consideration. “Consideration” is something of value given in return for a promise. Essentially, simply entering marriage vows is all that is required. However, a partner must disclose the full extent of the nature of his or her assets in order for the agreement to bind the other.
Also, a premarital agreement must be made in writing and signed by both yourself and your partner before you solemnize your marriage. An oral agreement is not enforceable between spouses. Neither does a premarital agreement carry value if it is created only after the marriage contract is entered. Where the partners are not relying upon a promise of marriage the divorce court will not bind the other partner to the agreement.
Many marriage partners are unaware that they can limit their exposure to adverse property or debt division awards by entering into a written contract with their spouse that conforms with the Uniform Premarital Agreement Act adopted in Utah. A validly negotiated and executed prenuptial agreement controls how interests in property, debts, and spousal support are awarded in a potential divorce. This may include all interests, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings.
This unique aspect of divorce law can be a useful tool in certain situations where one spouse is coming into the marriage with substantial real estate, investments, or other property, and does not intend to change the character of that property. If the intended spouse openly agrees to this condition, the divorce court will not question the motivations for doing so.
Utah law provides that a premarital agreement shall be in writing and signed by both partners. It is enforceable by the act of marriage without additional consideration. “Consideration” is something of value given in return for a promise. Essentially, simply entering marriage vows is all that is required. However, a partner must disclose the full extent of the nature of his or her assets in order for the agreement to bind the other.
Also, a premarital agreement must be made in writing and signed by both yourself and your partner before you solemnize your marriage. An oral agreement is not enforceable between spouses. Neither does a premarital agreement carry value if it is created only after the marriage contract is entered. Where the partners are not relying upon a promise of marriage the divorce court will not bind the other partner to the agreement.
Divorce FAQ
The foregoing information is general, non-case-specific information and is not intended to constitute legal advice or to form an attorney-client relationship. We provide aggressive, competent representation in all areas of divorce and family law, including child custody, visitation, child support, alimony awards, modifications, guardianships, adoptions, prenuptial agreements and all related matters. To schedule an appointment with one of our attorneys, please contact our office at 801-377-4652.
Courtyard at Jamestown
3575 North 100 East
Suite 325
Provo, Utah 84664
Phone: 801-377-4652
Fax: 801-377-4673
3575 North 100 East
Suite 325
Provo, Utah 84664
Phone: 801-377-4652
Fax: 801-377-4673
