Premarital & Postnuptial Agreements

1. May 2, 2006 SOLOSEZ email list posting by Joyce Maughan, Esq. re Post Nuptial Agreements:
   
   I understand that not all states allow postnups.
   
   Prenups should be signed by both parties and their separate attorneys at least one to three months before the date of the marriage.
   
   Postnups should be signed sufficiently in advance of the fruition of the events they intend to rule -- or have the parties sign again three months after the first signing to confirm that the first signing was not under duress.
   
   Prenuptial and postnuptial agreements include plans and formulas one way or another -- simple or complex - for resolution of all issues that would be involved in a divorce action *in addition to* estate planning issues. Exception: matters concerning child custody cannot be contracted solely by the parents -- *best interests of child* prevails at the time of divorce.
   
   Because estate planning issues are involved, and because you're trying to resolve issues that may arise in the future the prenup/postnup can be much more complex than a divorce.
   
   Here is a brief list of issues to be covered -- the prenup or postnup agreement addresses the distribution of the following items during marriage, after divorce, and after the death(s) of the spouses:
   
   ALIMONY:
   HEALTH INSURANCE:
   MARITAL RESIDENCE(S):
   OTHER REAL PROPERTY:
   BANK ACCOUNTS:
   STOCKS, SECURITIES, AND OTHER FINANCIAL ASSETS:
   RETIREMENT/PENSION PLAN:
   PERSONAL PROPERTY:
   ALL PREMARITAL PROPERTY:
   OTHER PROPERTY:
   LIFE INSURANCE:
   DEBTS:
   OTHER:
   ATTORNEY'S FEES:
   
   HEIRS' RIGHTS TO INHERITANCE, HOMESTEAD EXEMPTION, ELECTIVE SHARE, FAMILY ALLOWANCE, ADMINISTRATION OF DECEDENT'S ESTATE AND OTHER ISSUES INVOLVING DECEDENTS' ESTATES.
   
   Joyce Maughan, Esq.
   MAUGHAN LAW OFFICES
   Trusts, Estates, and Family Law
   10 West 300 South, Suite 500
   Salt Lake City, Utah 84101
   
   801-359-5900 Voice
   801-363-8438 Fax
   MaughanLaw@xmission.com



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