Cake, Dress, Prenuptial Agreement: Wedding Must-Haves in 2011 (Part 2)
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Posted On :
Oct-14-2011
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Article Word Count :
452
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The second prong of the analysis involves a two-part test: First, did the parties make a full disclosure of the amount, character and value of the property held at the time of the agreement, and second, did the parties enter into the agreement voluntarily, with independent advice, and full knowledge of their rights.
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In Washington, prenuptial agreements are generally upheld and enforced unless they are economically unfair or achieved by unfair means. Friedlander v. Friedlander, 80 Wn.2d 293, 301, 494 P.2d 208 (1972); Marriage of Foran, 67 Wash. App. 242, 255, 834 P.2d 1081 (1992). Courts apply a two-pronged analysis to determine the enforceability of a prenuptial agreement. The first prong requires examination of whether the agreement was substantively fair at the time it was executed. The second prong requires examination of whether the agreement is procedurally fair; i.e., whether the circumstances under which the agreement was made were fair. In re Marriage of Matson, 107 Wn.2d 479, 482-3, 730 P.2d 688 (1986); Marriage of Foran, supra, at 259-60.
If the court finds that the prenuptial agreement was fair and reasonable at the time of execution to the party not seeking its enforcement, the agreement will be found to be valid. No further analysis is necessary and the agreement will be enforced. See Whitney v. Seattle-First Nat’l. Bank, 90 Wn.2d 105, 579 P.2d 937 (1978) (post-nuptial agreement providing for spouse enforced); In re Marriage of Fox, 58 Wash. App. 935, 938, 795 P.2d 1170 (1990) (restating the test).
The second prong of the analysis involves a two-part test: First, did the parties make a full disclosure of the amount, character and value of the property held at the time of the agreement, and second, did the parties enter into the agreement voluntarily, with independent advice, and full knowledge of their rights. If both questions are answered in the affirmative, the agreement is enforced regardless of its substantive fairness. In re Marriage of Matson, supra, at 483. Essentially, each party should be represented by counsel, all assets and liabilities must be disclosed, and the prenuptial agreement should be fairly negotiated in advance of the wedding date.
The specific terms of the prenuptial agreement must be something that you can actually live with and follow during your marriage. Courts look to the parties’ actions during the marriage to determine whether they rescinded their contract by their conduct. Fox, 58 Wash. App. 935, at 938 (where neither party observed the terms of their contract during 11-year marriage, community and separate funds were knowingly commingled, the contract was held to have been rescinded).
In summary, although it may not be romantic, a prenuptial agreement is actually a tool that may prove useful in the future. If you are entering into a second or third marriage, have children, or considerable separate assets, I encourage you to call a Seattle divorce attorney four to six months in advance of your wedding date.
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Article Source :
http://www.articleseen.com/Article_Cake, Dress, Prenuptial Agreement: Wedding Must-Haves in 2011 (Part 2)_92189.aspx
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Author Resource :
Lasher Holzapfel Sperry & Ebberson is uniquely equipped to draft prenuptial agreements, utilizing the expertise of Seattle divorce attorneys, Seattle estate planning attorneys, and Seattle tax attorneys to protect your interests.
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Keywords :
Seattle divorce attorneys, Seattle tax attorneys,
Category :
Society
:
Society
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