Marital Agreements Flashcards
Pre-Marital Agreement
A valid marriage is sufficient consideration
Most states - must expressly state its applicability to divorce
Separation Agreement
Can define property division, spousal support, child support, custody, and visitation
Generally merged into final judgment for divorce or else governed by contract law
Property-Settlement Agreements
Can settle economic issues - entered into parties before a divorce decree is issued
Validity of Marital Agreements
Pre-Marital Agreements are generally enforceable if:
1. Full disclosure of financial status at the time of execution
2. Agreement is fair and reasonable
3. Agreement is voluntary
4. Must be in writing and signed by the party to be charged
Defenses to Pre-Marital Agreement Validity (UPAA)
- Involuntariness, OR
- That the agreement was unconscionable when executed, and the party
a. Did not receive or waive fair and reasonable disclosure, and
b. Did not have, or reasonably could not have had, adequate knowledge of other’s assets and obligations
Modification of Marital Agreements
Provision that prevents modification of property rights, including spousal support, is permitted
A provision that prevents modification of child support is NOT enforceable`
Cohabitation Agreements
A contract between unmarried persons is invalid if the only consideration is sexual relations - otherwise, generally enforceable
Property Division Between Unmarried Cohabitants
Equitable property distribution to avoid unjust enrichment