Kaplan Pgs 149-152 Actions

Question 1

In order for a premarital agreement to be valid, the party that it is being enforced against had to have been represented by independent legal counsel or what?

Answer 1

Had to have been advised to seek independent legal counsel and then expressly waived it in a SEPARATE WRITING

Question 2

Is it necessary for a premarital agreement or a transmutation to have consideration to be valid?

Answer 2

No

Question 3

What is required for a premarital agreement with regard to the explanation if one party is unrepresented?

Answer 3

• the party that is unrepresented must have been fully informed of the terms of the agreement as well as the rights and obligations that accompany it
• must’ve been proficient in the language that it was explained in and the language it was written in.
• explanation must be written down and then delivered to the party before they sign the agreement.
• upon signing, they have to declare that they received the information and say who provided it to them

Question 4

Why can property not be transmuted solely for the purpose of evading the reach of creditors?

Answer 4

Because transmutations are subject to the laws governing fraudulent transfers

Question 5

Is it possible for spouses to contract with each other as if they were unmarried people?

Answer 5

Yes

Question 6

What is involved in the fiduciary duties between spouses?

Answer 6

Obligations of mutual respect, fidelity, and support