private ordering Flashcards
Fair & reasonable disclosure
In PA, fair and reasonable disclosure of the property or financial obligations of the other party is needed for a premarital agreement to be enforcable.
Beyond fair & reasonable disclosure, what else could cause a premarital agreement to not be enforceable? 3106(a)(2)(ii-iii)
1) A voluntary & expressed waiver, in writing of the disclosure
2) lack of adequate knowledge of the other party’s property or financial obligations
What is a premarital agreement?
An agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.
When will a prenuptial or antenuptial agreement be generally enforced?
- An agreement by the parties made before the marriage concerning the distribution of property & alimony upon termination of the marriage will generally be enforced so long as
a) it was made in good faith; &
b) there has been a full & honest disclosure of all material facts by both parties (in particular, their respective finances)
What is a separation agreement?
an agreement entered into during the marriage, prior to the issuance of a divorce decree, in which the parties agree 1) to a determination of the economic issues as well as 2) remains separate & apart.
When would a separation agreement terminate?
Reconciliation, which is based on a weighing of factors
What is a property settlement?
An agreement entered into by the parties prior to the issuance of a divorce decree to settle the economic issues of the marital estate “finally & for all time”
Agreements concerning child support
Parents can’t contract away the right to child support as child support is the right of the children, not the rights of the parents. Agreements that contract away child support for any reason will always be void & unenforceable.
