Prenuptial & Postnuptial Agreements

With fifty percent of marriages ending in divorce, a prenuptial agreement is one of the best investments you can make for your financial security and peace of mind.

What is a prenuptial agreement?

A prenuptial agreement in Utah is a contract between two people who plan to marry which determines what happens to their assets and debts if the marriage ends. Prenuptial agreements are also called prenups and premarital agreements. There are also postnuptial agreements which have the same effect but are agreed to after the parties have already married.

Benefits of a Fair Price Lawyers prenup?

  • $500 flat fee
  • Includes one-hour Zoom consult with Utah family law attorney
  • Professionally drafted by licensed attorney
  • Tailored to Utah-specific law and up-to-date regarding changes in the law
  • Free remote notarization
  • Your prenup printed on linen paper and smartly bound
  • Includes Prenup Execution Guide to avoid pitfalls.

Don’t trust your financial future to chance. Have a licensed Utah family law attorney draft a prenup customized for your needs.

Call Fair Price Lawyers today for a free consultation: (801) 999-0104.

What matters can be decided with a prenup?

Most of the matters that are decided in a divorce can be determined ahead of time with a prenuptial agreement. These include alimony and the division of retirement accounts, financial accounts, real estate, personal property, and debts. A well-written prenuptial agreement can protect assets and provide financial security and peace of mind.

Some matters such as child support and child custody cannot be predetermined by a prenuptial agreement. Those matters must be decided by a judge.

Utah requirements for an enforceable prenup?

There are five requirements that must be satisfied to make an enforceable prenuptial agreement in Utah:

  • The agreement must be in writing and sign by both parties
  • The agreement must be voluntary
  • Each party must be given enough time to consider the agreement and to consult with an attorney if they choose
  • The parties must make a full disclosure of all their assets and debts
  • The agreement cannot be unconscionable, i.e., grossly unfair to one party

Does a prenup need to be notarized?

No, but notarizing your prenuptial or postnuptial agreement is recommended. Fair Price Lawyers provides free notary services for our prenuptial and postnuptial agreements.

What would make a prenup involuntary?

The classic example of an involuntary prenuptial agreement is where one party surprises the other on the night before their wedding with a request to sign a prenup. The wedding is all planned and the guests will be arriving the next day. This situation creates an enormous amount of pressure on other party to sign the prenup rather than call off the wedding. It can be argued that the prenup was signed under duress.

When must a prenup be given to the other party?

In the previous example, the surprised party has not been given enough time to consider the prenuptial agreement and perhaps consult with an attorney. The wedding is tomorrow, and they must decide tonight. A judge would probably decide that the prenup is unenforceable. Had the agreement been given to the other party weeks or months before the wedding, it would be enforceable.

Why must a party disclose all their assets and debts?

To make an enforceable prenuptial agreement, the parties must make a full disclosure of all their assets and debts. This is done so that both parties can make a fully informed decision about whether to sign the agreement. Both parties have a right to know what they’re giving up in the agreement and what obligations they are undertaking. If full disclosure is not made, then a judge may decide that the offended party was fraudulently induced to sign the prenup and so it is not enforceable.

What would make a prenup unconscionable?

A prenup may be considered unconscionable if the terms of the agreement are grossly unfair to one party. An example of gross unfairness would be a term which required one party to be responsible for all the debts incurred by the party during the marriage, without exception. That term could create a situation in which one party spends extravagantly and then leaves the other party to foot the bill after their divorce. Another example would be where the terms of the prenuptial agreement would leave one spouse destitute at the time of the separation or divorce. In such a situation, the judge may decide to order the other spouse to provide some modest, temporary financial assistance, notwithstanding the terms of the prenuptial agreement.

Prenups and alimony

With a prenuptial agreement, parties can agree that in case of a separation or divorce neither party will receive alimony or a spouse will receive only a set amount of alimony. Such an agreement eliminates a major financial risk. A “sunset clause” can also be included in the prenup, if you choose, which states that the term precluding alimony expires at a certain date or point in the marriage. For example, a prenup can be written to say that a spouse may get alimony only if the marriage lasted 5 years or more.

Prenups are not just for rich people

Many people think prenuptial agreements are just for rich people but that is an unfortunate misconception. Anyone who has or plans to have a career, to buy a home, or to save for retirement, should consider getting a prenup. Take for example the hypothetical case of John who owns a home. John is of modest means. He saved for 10 years to buy that home and it is his only major asset. If John gets married, in any future divorce proceedings his spouse could be awarded an equal share of the home equity that accrued during the marriage. With a prenuptial agreement, John can ensure that in the event of a divorce, his home will be considered his separate property and not subject to division.

What about postnuptial agreements?

Couples who are already married and regret not having signed a prenup can still obtain the same financial security and peace of mind by signing a postnuptial Agreement or “postnup.” At Fair Price Lawyers we make custom postnups for clients too.

Don’t trust your prenuptial or postnuptial agreement to a computer or a nationwide focused website. Have a licensed Utah family law attorney draft a prenup customized for your needs.

Call Fair Price Lawyers today for a free consultation: (801) 999-0104.