What does a Premarital or Prenuptial Contract do for You?
Another type of special marital contract is the premarital agreement. Whether it is to protect assets or interests that you are bringing into a marriage or if you are merely preparing for unforeseen future events, premarital contracts are becoming more and more common between marrying couples. It is probably more common among older couples and maybe those who have been previously married. These contracts may not violate any public policy, statute or criminal law.
Some specific examples of what might be contained in a premarital agreement are:
- Rights and obligations of their mutual property and the property of each other;
- Right of parties to buy, sell, use, transfer, exchange, etc. and manage and control property;
- Disposition of property in the event of separation, divorce, death, or other events;
- Modification or elimination of alimony, or spousal support;
- Death benefits from life insurance;
- Choice of law for divorce or other proceedings;
- Other matters not deemed illegal or against public policy or law.
What Makes a Premarital Agreement Valid?
These agreements are allowed and valid in the state of Utah. The agreements are contracts and may only be entered into voluntarily. If the agreement is fraudulent or does not disclose property or other important information that would have affected the agreement, then it could be void. A premarital agreement is also void when the marriage itself is voided, inasmuch as it avoids an unfair result.
Premarital agreements become effective upon marriage and may only be amended or revoked by a written agreement signed by both parties. You may not create an agreement concerning child support, health, medical care or medical insurance, or child care coverage.
Where to Get Help
If you are considering marriage and are wondering whether to draft or sign a premarital/prenuptial agreement it is very important that you get legal counsel to make sure that your rights are being protected and that you do not get taken advantage of. At Utah Divorce Hotline, our Utah family law attorneys can help you draft a solid premarital agreement. We can also help you if you are getting divorced and have previously signed a premarital agreement to determine whether it is enforceable and how you can get the best results for your circumstances.
Call us anytime at 801.618.1331 or contact us by email.