Future Wedding Plans?

Now that COVID-19 restrictions are easing, I have heard the wedding industry is exploding.  From the purchase of engagement rings to the booking of venues, photographers and videographers, and the highly anticipated honeymoon everything is starting to fill to capacity, quickly.  A wedding is such a wonderful and exciting time for you and your family.  It can truly bring two families together into one based on the premise of love and happiness.  However, you do need to make sure in all of your celebrations that the legal aspects of getting married are addressed.  After all, if you don’t protect yourself, your assets, and your loved ones, who will?
In looking at protecting you and your loved ones, perhaps you want to explore a prenuptial agreement.  Is this something you should consider?  A prenuptial agreement is a legally binding contract that contemplates martial issues and details what will happen should a couple divorce.  This is certainly not something you want to contemplate when getting married but maybe the prudent thing to do given your situation.  Prenuptial agreements can be beneficial when one spouse is bringing a significant amount of debt into the marriage; one spouse has a vast estate and the other has meager means, or you have children from a prior marriage or relationship you want to protect.  If you have concerns about whether or not a prenuptial agreement would be helpful, contact our office for an in-depth discussion. we will happily schedule an appointment with you and provide you the time you need to review your situation.
Prenuptial agreements can contemplate how income will be separate or shared; the division of property rights, alimony, rights to a death benefit such as an insurance policy, or which state law will prevail should there be more than one state involved in the marriage.
Prenuptial agreements must be discussed, drafted, and executed prior to the date of marriage.  Prenuptial agreements must be in writing.  However, they do not need to be supported by “consideration” as other contracts may need to be.  Rather, prenuptial agreements must be written and signed “in contemplation of marriage”.  Utah has adopted the Uniform Premarital Agreement Act (1983) (“UPAA”) which outlines the previsions, rules, and what must be present in a prenuptial agreement for it to be valid.
Whether or not a prenuptial agreement is enforceable is to be ultimately determined by a judge.  This is why is it important that a competent and skilled attorney advises you and prepares your prenuptial agreement.  There are things that can render your prenuptial agreement invalid.  These include failure of both spouses to sign the agreement; fraudulent representations of the agreement; failure to disclosure full property and financial interests or obligations to your future spouse; and a waiver, in writing, to any said disclosure.
Once you are married circumstances can and will tend to change.  Revisions or revocations can be made to a prenuptial agreement once they are in place.  Both spouses will need to agree, in writing to the revision and sign the new agreement.
If you have questions or concerns about a prenuptial agreement contact our office so we may personally discuss these issues with you.

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