The Uniform Premarital Agreement Act
Wednesday/February11/09
About half the states have enacted the Uniform
Premarital Agreement Act.
The Act states that a premarital agreement must be in writing and signed by both parties. A premarital agreement comes into effect upon marriage.
The parties to a premarital agreement may contract with respect to many aspects of marriage, including property rights, how property will be disposed of upon death or divorce, what spousal support will be paid, how life insurance policies will be divided, and so forth.
A premarital agreement can be declared unenforceable if the party against an enforcement is sought proves that:
(1) the party did not sign the agreement voluntarily; or
(2) the agreement was unconscionable when it was signed and, before signing the agreement, that party:
(A) was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;
(B) did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided; and
(C) did not have, or reasonably could not have had, adequate knowledge of the property or financial obligations of the other party.
The Act states that a premarital agreement must be in writing and signed by both parties. A premarital agreement comes into effect upon marriage.
The parties to a premarital agreement may contract with respect to many aspects of marriage, including property rights, how property will be disposed of upon death or divorce, what spousal support will be paid, how life insurance policies will be divided, and so forth.
A premarital agreement can be declared unenforceable if the party against an enforcement is sought proves that:
(1) the party did not sign the agreement voluntarily; or
(2) the agreement was unconscionable when it was signed and, before signing the agreement, that party:
(A) was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;
(B) did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided; and
(C) did not have, or reasonably could not have had, adequate knowledge of the property or financial obligations of the other party.
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