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People choose to sign prenuptial agreements for many reasons, but the underlying rationale is usually to avoid expensive divorce litigation in the event a marriage dissolves. When each person's rights and obligations are specified in a prenuptial agreement, the time and money spent on divorce is usually greatly reduced.
Negotiating a prenuptial agreement can be a very sensitive issue. The family law attorneys and Stavros Law can provide you with the legal guidance you need and help you balance the emotional factors with the practicality of saving the couple considerable expense if the marriage ends.
A prenuptial agreement is a legal contract listing the assets and debts belonging to each party before the marriage. It establishes each person's property rights should the marriage end in divorce or if one person dies before the other.
Prenuptial agreements can be beneficial for individuals with high net worth as well as people who have modest assets. They are generally recommended for anyone who wishes to set aside certain assets for children or protect property rights in the event of divorce or the death of a spouse.
Some of the ways prenuptial agreements may be used in Utah are the following:
Preserve assets you bring to the marriage
Protect assets for children in blended families
Specify property division in the event of divorce
Keep individual debts and obligations separate
Set limits on alimony/spousal support payments
Specify who will pay attorneys' fees in the event of divorce
There must be reasonable disclosure from each party of all assets and debts at the time the prenup is drafted. Each party must sign the agreement and enter into it voluntarily. If these criteria are not met, the agreement will not be binding.
In addition to the foregoing, there are a host of other considerations to think about when deciding whether to enter into a prenuptial agreement and what provisions to include in the agreement. Counsel from a family attorney in Utah with experience with such agreements is essential.
Please call our office for a free initial telephone consultation at (801) 758-7604 or contact us online for additional information.
Stavros Law P.C. is a Utah law firm providing legal services to individuals and businesses in Utah, the Mountain West and across the United States, including Salt Lake City, Draper, Sandy, South Jordan, West Jordan, Lehi, Provo, Orem and Spanish Fork. Our lawyers provide civil litigation, trial and appeal work to clients in federal and state courts throughout the United States. We provide litigation and counseling services for clients in the areas of business and commercial law, employment and labor law, health care law and family law.