Ch 5: Marital Agreements Flashcards
(18 cards)
What is a premarital agreement?
A contract made before marriage, typically containing terms related to division of property or spousal support in case of divorce or death.
Also known as a prenuptial or antenuptial agreement.
What is required for a valid premarital agreement?
Consideration, which is satisfied by a valid marriage.
Valid marriage serves as sufficient consideration for a premarital agreement.
What are the enforceability requirements for a premarital agreement?
Full disclosure, fairness, and voluntariness.
The agreement must be in writing and signed by the party to be charged.
What does the Uniform Premarital Agreement Act (UPAA) address?
It relates specifically to premarital agreements and imposes standards for their validity.
Adopted in 26 jurisdictions.
What happens if a premarital agreement does not state its applicability to divorce proceedings?
It may not be enforced in divorce proceedings.
Many jurisdictions require explicit statements regarding divorce applicability.
What is a separation agreement?
A contract made between spouses planning for divorce.
It can define property division, spousal support, child support, custody, and visitation.
True or False: Provisions related to child support and custody in a separation agreement are unmodifiable by the court.
False.
These provisions are modifiable if not in the best interests of the child.
What is a property-settlement agreement?
A contract entered into by parties before a divorce decree for settling economic issues of the marital estate.
What is required for a premarital agreement to be enforceable under the UPAA?
The party against whom enforcement is sought must prove involuntariness or that the agreement was unconscionable.
This includes not receiving fair disclosure or having inadequate knowledge of the other’s assets.
What constitutes full disclosure in a premarital agreement?
Full disclosure of financial status, including income, assets, and liabilities of all parties.
What factors do courts consider to determine if a premarital contract is fair and reasonable?
- Parties’ wealth
- Age
- Health
Courts look for both procedural and substantive fairness.
What is the standard for evaluating the fairness of a premarital agreement?
Most courts evaluate fairness at the time of execution; some at both execution and enforcement.
The trend favors enforcement if there has been fair disclosure.
What does voluntariness mean in the context of premarital agreements?
Parties must enter into the contract voluntarily, free from misrepresentation or duress.
What can happen if one spouse is left woefully impoverished by an agreement?
The agreement may be set aside if it leads to dependence on the state.
This is irrespective of whether the exact terms are abrogated.
How can a premarital agreement be modified after marriage?
It can be amended or revoked if both parties sign a written agreement.
Courts can always modify child-support provisions, regardless of the agreement terms.
What is a cohabitation agreement?
A contract between unmarried persons, enforceable if consideration includes more than just sexual relations.
What is the typical court approach when no express contract exists between unmarried cohabitants?
Equitable distribution of property based on resulting trust, constructive trust, or quantum meruit theory.
Fill in the blank: A premarital agreement is enforceable if there is _______.
[full disclosure, fairness, and voluntariness]
