Getting married is considered to be the ultimate sign of love and commitment by many. However, close to half of the marriages in the United States end in divorce. Because of this startling statistic, many individuals bring up the idea of a prenuptial agreement (also known as premarital agreements in Utah law). While the conversation of a prenuptial agreement can be difficult and somewhat awkward, in the event of a divorce, having one in place significantly lessens the stress and headache that accompanies dividing property and assets.
Continue reading below to find out everything you need to know about prenuptial agreements.
What is a Prenuptial or Premarital Agreement?
Utah State Legislature states that prenuptial agreement means “an agreement between prospective spouses made in contemplation of marriage and effective upon marriage.” Utah requires both individuals to sign a written prenuptial agreement.
What Can a Prenuptial Agreement Include?
- Dividing and allocating separate and marital assets and property.
- Alimony or spousal support concerns.
- Keeping certain property and assets in the family.
- Provisions concerning children from previous marriages.
What Premarital Agreements Cannot Include
- Directions concerning child support, custody, or parent time.
- Daily tasks or duties for spouses throughout the marriage.
- Waiving rights to alimony.
What You Need to Know About Premarital Agreements
Here is everything you need to know about prenuptial agreements in Utah:
- A judge can rule a premarital agreement unenforceable if the agreement was fraudulent (meaning, one spouse was not fully disclosed of all assets or property) or did not voluntarily enter the agreement.
- Prenuptial agreements are made to be permanent. However, they can easily be revoked should the couple feel there is no longer a need for the contract. Under Utah law, if a couple wants to modify or cancel their premarital agreement, both parties must sign a written agreement.
- A sunset clause or provision may be included in prenuptial agreements that place an “expiration date” of sorts on their agreement.
- If you and your spouse regret not filing a premarital agreement, you can still get the same security with a postnuptial agreement.
- If a prenuptial agreement heavily favors one party above the other, a judge may void parts of the agreement or the entire agreement.
Benefits of Premarital Agreements
Prenuptial agreements come with many benefits, such as:
- A premarital agreement protects both parties if the couple divorces and gives both spouses an idea of what to expect should they divorce.
- Prenuptial agreements can save you thousands of dollars in legal fees throughout the divorce process.
- A premarital agreement ensures the state will not divide your assets and property.
Contact The Ault Firm, P.C.
If you need a prenuptial agreement or need to make adjustments to an existing agreement, contact the legal professionals at The Ault Firm, P.C.
You can trust our knowledgeable and experienced team to protect your assets and interests. We are highly trained and committed to our clients’ needs first and will work closely with you to ensure the best possible outcome.
If you are in the Salt Lake City or West Jordan area and need a prenuptial agreement attorney, contact The Ault Firm to schedule a case consultation.