Premarital Agreements

Question 1

Premarital Agreement

Answer 1

A premarital agreement shall be in writing and signed by both parties. It is enforceable without consideration.

Question 2

Uniform Premarital Agreement Act

Answer 2

(a) Parties to a premarital agreement may contract with respect to all the following:
1) the rights and obligations of each parties in any of the properties
2) the right to buy/sell/transfer/exchange/abandon/lease/consume/expend/assign/create security interest in/mortgage/encumber/dispose of, or otherwise manage and control property
3) the disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurence of any other event.
4) the making of will, trust, or other arrangement to carry out the provisions of the agreement
5) the ownership rights in and disposition of death benefit from a life insurance policy
6) the choice of law governing the construction of the agreement
7) any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty
(b) spousal and child support may not be waived by a premarital agreement

Question 3

exceptions to a premarital agreement

Answer 3

1) not voluntary
2) was not fair, reasonable, and did not fully disclose of the property or financial obligations of the other party
3) not in writing
4) no adequate knowledge

Question 4

premarital agreement requirements

Answer 4

must be in writing or
1) the party against whom enforcement is sought was represented by independent legal counsel
2) between 2002 and 2020 had at least 7 days between the time of presentation with the final agreement and advised to seek independent legal counsel (after 2020 regardless of whether the parter is represented by legal counsel)
3) proficient in the language in which the agreement was written in
4) not written under duress, fraud, or undue influence, and the parties did not lack capacity to enter into the agreement