The Difference Between Prenups and Postnups.

Most of us have heard of prenups, prenuptial agreements, or premarital agreements. These are agreemens which define certian marital rights prior to entering a marriage. Many individuals execute prenups as a means of avoiding alimony or asset distribution in the event of a divorce. The key to prenups is they are obviously executed before two people are married. Whereas post nuptial agreements are marital contracts executed following the marriage. Postnuptial agreements are generally entered into for the same reasons as premarital contracts. Many people don’t even realize that a contract executed after marriage which defines marital rights is legal; such agreements are valid and enforceable if executed properly.

Post marital agreements are governed by general contract principles and pre marital agreements are defined by the Utah Uniform Premarital Agreement Act. Both premarital and postmarital agreements are enforceable if signed in writing by both parties and meet other specific requirements.

Why Premarital and Postmarital Agreements?

Whether you are getting married or are already married, you may wish to define certain rights and obligations such as defining alimony, property distribution, or other issues. These contracts allow individuals to control how assets and property will be divided in the event of divorce or dissolution of a marriage. Postnups and prenups are becoming increasingly more popular.

Consideration

One of the main differences between a prenup and postnup is the presence of consideration. Consideration is the exchange of value for value or for a promise. In common terms this means, generally speaking, a contract will only be valid and enforceable if there is consideration given in the contract. Premarital agreements do not require consideration. Post marital agreements, on the other hand, do require consideration. In most cases this means that if you wish to execute a valid postnuptial agreement with your spouse, there must be an exchange of value such as money.

Postnuptial and Prenuptial Lawyer

If you are considering entering into a premarital agreement or postnuptial agreement, contact a Utah Family Lawyer right now. These agreements are very technical and must meet certain requirements or they are simply not worth the paper they are written on. If you have any questions regarding these contracts, call a Utah Divorce Lawyer at Salcido Law Firm today. 888-337-3236. We provide free consultations.