Need help filing a Prenuptial or Postnuptial Agreement?
There are many reasons why one would want or need a prenuptial agreement. For example, someone who has accumulated a considerable amount of pre-marital assets or earning potential that they want to protect may want to consider using a prenuptial agreement. Also, someone who has a partnership interest in one or more companies or children from a prior marriage may want to consider using a prenuptial agreement as well to shelter assets from the negative effects of a divorce. Without a prenuptial agreement, one’s assets, business interests, and children’s inheritances are possibly fair game in an asset division in a divorce.
What are Prenuptial and Postnuptial Agreements?
Prenuptial agreements and postnuptial agreements are vastly different from each other. Utah law will enforce either agreement under the correct circumstances. Prenuptial agreements are often called “prenups” and are more enforceable than postnuptial agreements. Postnuptial agreements are contracts between spouses. A postnuptial agreement is harder to show the other party received some sort of consideration in exchange for the agreement. Prenups normally use the marriage as the consideration for the agreement.
Courts are less likely to enforce postnuptial agreements if the couple acquires assets and accumulates wealth together. Since the law generally defaults to an equitable division of marital assets, one must follow specific rules in order to ensure a prenuptial agreement is effective and enforceable. One of the key elements of a prenuptial agreement is full disclosure and both sides must reveal all of their assets so the other person can make an informed decision. Prenuptial agreements must be in writing and signed by both parties and becomes effective when they marry. In the end, prenuptial agreements must be considered and drafted carefully to ensure the efficacy and enforceability of your prenuptial agreement. Postnuptial agreements are often used when a couple is nearing divorce. Oftentimes the couple is reconciling, but still nervous about the future with their spouse. Postnuptial agreements can be used to help protect assets that belong to one spouse and not the other.
Obtain a Free Consultation for Utah Prenuptial and Postnuptial Agreements
Regardless of whether you are considering a prenuptial or postnuptial agreement, hiring the right divorce attorney to assist you is a critical first step. The attorneys at Green Legal Group will make sure you and your assets are properly taken care of so you can focus on making your marriage work. Contact our Salt Lake City law firm for more information, (801) 405-7827.