How Can a Family Law Attorney Help with Prenuptial and Postnuptial Agreements?
Law Office of Kelly Peterson | Your Family Law Advocate in Payson, Utah
Currently, it’s estimated that 40% of US marriages may end in divorce. While the good news is divorce rates have steadily declined over the past few decades, divorce is still common enough to consider the profound emotional and financial impact it would have on your life.
Most people enter marriage with optimism and hope. It may seem unnatural to approach one of the most significant commitments of your life by contemplating all that might go wrong in the future. Yet, there are compelling reasons to confront some uncomfortable realities.
Without a clear-eyed and practical view of the possibility and consequences of a divorce, you may one day find yourself in a stressful and protracted battle that will take an enduring toll on you, your spouse and your family. Discussing and planning for the contingency of divorce may indeed feel awkward. However, the failure to do so can lead to uncertainty, regret, and disputes over the division of assets, debts, and inheritance.
Prenuptial and postnuptial agreements are a proactive and rational approach to a scenario that, one day, you may have to face. Kelly Peterson, a uniquely qualified and experienced family law lawyer in Payson, Utah, can provide clarity and peace of mind if you’re considering whether a prenuptial or postnuptial agreement would be the right decision for you.
What You Need To Know About Marital Agreements
Prenuptial agreements (made before the marriage) and postnuptial agreements (made after the marriage) contemplate and prepare for the financial challenges you’ll face should your marriage end. They are intended to provide mutually agreeable solutions for issues such as:
- Inequities in assets
- Differences in earning potential
- The treatment of premarital assets
- Division of debts
- The financial fate of family businesses
- Inheritance and estate planning issues, including those arising from blended families
When Should You Consult A Family Lawyer About A Marital Agreement?
If you’re wondering whether a marital agreement is the right choice for you, an initial consultation with a family lawyer can help. Typically, prenuptial and postnuptial agreements are worth considering if you or your spouse are bringing to the marriage:
- Substantial wealth in the form of income, investments, inheritance, real estate or business interests
- Substantial debt that could be a point of contention in the future
- Children from a prior marriage or relationship, where issues of support or inheritance may pose the possibility of future conflict
- Existing tensions or arguments between you about financial disparities, spending or debt
In terms of timing, you should speak to a family lawyer about marital agreements as soon as possible. Specifically, and ideally, it’s advisable to consult a lawyer about a prenuptial agreement well before the wedding to allow sufficient time for drafting and reviewing the agreement and to avoid unwanted pressure.
How Does An Attorney Ensure A Marital Agreement’s Legal Compliance?
A prenuptial and postnuptial agreement lawyer cannot only see to it that your wishes are fully considered, but also that the agreement is enforceable under Utah law in both form and content. When appropriately crafted, a marital agreement will withstand future legal scrutiny and allow revision if circumstances or the law change.
Another essential requirement for a marital agreement in Utah is full financial disclosure by both parties. Your lawyer will ensure that the agreement fully discloses and addresses your and your spouse’s income, assets and debts.
Finally, a responsible family lawyer will also support the voluntary consent of both parties by recommending independent counsel for each party and allowing sufficient time for review and negotiation of the agreement’s terms.
Can A Law Firm Customize Marital Agreements For Unique Situations?
A marital agreement is designed and intended to be customized for your and your spouse’s unique situation. Your lawyer can create an agreement that protects such interests and circumstances as:
- The future control and growth of your or your spouse’s business
- Ensuring and clarifying the inheritance rights of children in blended families
- Providing future financial stability to a stay-at-home or caregiving spouse
- Protecting the financial interests of both spouses when one earns significantly more than the other
- Making provisions for handling current and future debt
- And more . . .
How Does Legal Guidance Protect Both Parties To A Marital Agreement?
Proper legal guidance ensures that the interests of both parties are meticulously considered and protected. To that end, your lawyer verifies that there is full financial disclosure and that both parties enter the agreement voluntarily, with a complete understanding of its terms without undue pressure.
An experienced family lawyer will also safeguard your interests by creating an agreement with precise language and terms to guarantee legal fairness and enforceability. This attention to detail will clarify your rights and obligations and help avoid disputes or litigation in the future.
Why Does Experience Matter In Marital Agreement Cases?
A skilled marital agreement lawyer can anticipate and prevent any possible disputes or conflicts over your agreement’s terms. They also know how those disputes would play out under Utah law and in the context of its unique religious culture.
Kelly Peterson has decades of experience and extensive knowledge of Utah’s Uniform Premarital and Marital Agreements Act, the law governing the creation and interpretation of prenuptial and postnuptial agreements. His vast experience makes him uniquely qualified to protect your interests and navigate the legal intricacies of Utah marital agreements.
Still Have Questions? Call Us!
If you have questions about prenuptial or postnuptial agreements, call the Law Office of Kelly Peterson today at (801) 346-0172 for answers, or simply reach out via our client contact page to schedule an initial consultation.
