Marital Agreements Flashcards
(21 cards)
What are marital agreements subject to?
Principles of contract law and applicable family law provisions.
What is a premarital agreement?
A contract entered into by prospective spouses in contemplation of marriage, typically regarding property division or spousal support.
Is consideration required for a premarital agreement in Virginia?
No, Virginia statute does not require consideration.
What happens if the marriage does not take place in relation to a premarital agreement?
The parties are discharged from the obligations of the agreement.
What is a separation agreement?
A contract entered into by a married couple in contemplation of or because of their separation.
What can a separation agreement focus on?
Property division, spousal support, child support, custody, and visitation.
Under what condition will the court enforce spousal support and property division provisions?
If the agreement is not unconscionable.
What happens to a separation agreement if spouses reconcile?
The agreement is repealed unless it expressly states otherwise.
What content is permitted in marital agreements?
Rights and obligations regarding property, spousal support, wills, ownership of life insurance benefits, choice of law, and any matter not violating public policy.
How is the validity of a marital agreement generally determined?
By the law of the jurisdiction where the agreement is executed.
What must a marital agreement do to be enforceable?
It must be in writing and signed by both parties.
What is an exception to the requirement for a written marital agreement?
Oral separation agreements that are memorialized in a court order or record.
What can make a marital agreement unenforceable?
If it can be proven that the agreement was not voluntarily executed or was unconscionable.
What is required for voluntary execution of a marital agreement?
The parties must enter into the agreement free of fraud, duress, or misrepresentation.
How does a court determine if an agreement is unconscionable?
By considering gross disparity in value exchanged and whether oppressive influences made the process unfair.
What is fair and reasonable disclosure in the context of marital agreements?
Disclosure of financial status, including income, assets, and liabilities of both parties.
What may happen if a marital agreement does not provide adequate disclosure?
A court will generally refuse to enforce the agreement.
What happens if a valid marital agreement leaves one spouse impoverished?
The agreement may be set aside if it results in one spouse becoming dependent on the state.
How can a marital agreement be modified or revoked?
By a written agreement signed by the parties.
Can a court deny a request for modification of spousal support based on a stipulation?
No, unless the stipulation expressly states that the amount or duration of support is non-modifiable.
Can child support provisions in a marital agreement be modified?
Yes, a court may always modify child support provisions regardless of any non-modification clause.
