Enforceable Prenuptial Agreement Utah
Let’s be honest, thinking about a Prenuptial Agreement Utah is not the most romantic thing in the world. A couple in love does not want to think about divorce in any way when they have just decided to get married. But for many lovebirds, the benefits of a Prenuptial Agreement Utah can be substantial.
If you have considered entering into a prenuptial agreement, it is important that both parties obtain legal advice. A Prenuptial Agreement Utah must be consistent with state law or it can be overturned. And even a prenuptial agreement that is legal may not be fair to both parties to the marriage. At Salcido Law Firm, we can point out the potential pitfalls as well as benefits of entering into a prenuptial agreement.
If you are getting married and have considered a prenuptial agreement, but you are not convinced or aware of the benefits associated with these agreements, consider the following:
- A prenuptial agreement defines the financial arrangements and understanding of the spouses at marriage. The parties therefore know what to expect upon death or divorce.
- A prenuptial agreement can effectively protect the interests of children from a prior marriage. A sizable portion of assets (called the elective share) may automatically go to a spouse upon death in most states, but this can be avoided by using a prenuptial agreement. This elective share can be waived in a prenuptial agreement. This is an important consideration, particularly where there are children from a prior marriage.
- A prenuptial agreement may also make sense when there is a significant disparity in wealth. It is also worth considering if you or your spouse-to-be owns a small business or a stake in a family business; a prenuptial agreement can ensure ownership will not be contested in a divorce.
- While you will have to pay an attorney to draft your prenuptial agreement, the cost of litigating a contested divorce would be far greater.
- The prenuptial agreement may not only define what is a person’s separate property, but it will also specify what assets or debts will be joint or marital and direct how they will be split in the event of divorce
- The prenuptial agreement can direct if, and how, alimony or spousal maintenance will be paid.
Utah Prenuptial Agreement Laws
In order for a premarital agreement to be enforceable under Utah law, it must meet certain requirements. Those requirements under Utah Prenuptial Agreement Laws are very specific. If the laws are not followed exactly a court can overturn the agreement and rule that it is void and unenforceable. If you are considering entering into a prenuptial agreement you will want to make sure to hire attorneys who have as much experience as Salcido Law Firm in drafting such agreements. You should also be aware of the following laws relating to prenuptial agreements in Utah:
- A premarital agreement must be in writing and must be signed by both parties.
- A premarital agreement becomes effective upon marriage.
- After the parties are married, a premarital agreement may be amended or revoked only by a written agreement signed by the parties.
- It must be voluntary.
- There must be a reasonable disclosure of the property or financial obligations of the other party.
- If a provision of a premarital agreement modifies or eliminates spousal support and that modification or elimination causes one party to the agreement to be eligible for support under a program of public assistance at the time of separation or marital dissolution, a court, notwithstanding the terms of the agreement, may require the other party to provide support to the extent necessary to avoid that eligibility.
If you are considering a Prenuptial Agreement Utah and would like further information, contact one of the Utah divorce and family law attorneys at Salcido Law Firm today. We are ready and willing to take on the most challenging contract terms to ensure you get the agreement you want. More background information on prenuptial agreements and their history can be found here. You can also learn more about the Utah Prenuptial Agreement Laws by searching the linked page on our website.