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Types
Premarital agreements: Marriage is the consideration. If no marriage, then no enforcement. SoL is three years.
Separation agreements: can define property division, spousal support, child support, custody, and visitation. May be merged into divorce decree if they are based on full and fair disclosure and consent of the parties. Must be in writing, executed by the parties, and notarized.
Property Settlement agreements: entered into BEFORE a divorce decree is issued.
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Validity of marital agreements
Must be:
- Full disclosure: of financial status. There must have been a meaningful choice.
- Fair and reasonable
: considering parties' wealth, age, health. Must be fair and reasonable AT TIME IT IS MADE, not at time of dispute.- Volutary
: free of fraud, duress, or misrepresentation. Factors considered include time pressure, previous business experience, and opportunity to be represented by independent legal counsel.
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Modification of marital agreements
The courts may modify child support and custody provisions in a marital agreement even if the agreement states that no modifications may be made.
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