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North Carolina Prenuptial Premarital Agreement - Uniform Premarital...

North Carolina Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - with Financial Statements

Category:

Family Law - Marriage - Property Agreements - Prenuptial Premarital

State:

North Carolina

Control #:

NC-00590

Format:

Instant download

Description

This Prenuptial Premarital Agreement with Financial Statements form package contains a premarital agreement and financial statements for your state. The agreement can be used by persons who have been previously married, or by persons who have never been married. It includes provisions regarding the contemplated marriage, assets and debts disclosure and property rights after the marriage. The agreement describes the rights, duties and obligations of prospective parties during and upon termination of marriage through death or divorce. These contracts are often used by individuals who want to ensure the proper and organized disposition of their assets in the event of death or divorce. Among the benefits that prenuptial agreements provide are avoidance of costly litigation, protection of family and/or business assets, protection against creditors and assurance that the marital property will be disposed of properly.

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How to fill out North Carolina Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - With Financial Statements?

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FAQ

A written contract. Lawful terms within the prenup. Signatures from both parties. Signed voluntarily (without coercion, intimidation, deceit or duress) Signature from a notary. At least seven days to seek independent legal counsel before signing.

Typically, prenups cost around $2,500, but can cost more if you spend a while haggling out various issues.

In California, individuals can draft their prenups. However, without a legal background, it is easy for the prenuptial agreement to be invalidated.Other requirements include a written contract, legal terms within the prenup and the voluntary signatures of both parties.

No. Prenuptial agreement need not be filed or recorded to be valid and enforceable among parties. If you are already married, you need postnuptial agreement.

The state of North Carolina follows the Uniform Premarital Agreement Act (UPAA) to establish requirements for prenuptial agreements. Prenuptial agreements must be in writing and signed by the future spouses before the couple is married. The agreement won't actually take effect until the couple marries.

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North Carolina Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - with Financial Statements

Sometimes there are areas of law about which Uniform Acts are written and adopted by the various states. Premarital Agreements is such as area of law. The NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS adopted the final version of the Uniform Premarital Agreement Act in 1983. Since that date, the act, as modified by the various states, has been adopted in the following states: Arizona, Arkansas, California, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Oregon, Rhode Island, South Dakota, Texas, Utah and Virginia. At the heart of the act is the provision which provides that such an agreement is generally valid if in writing and sets forth the factors to consider if the agreement is challenged.

North Carolina Statutes

Short title: This Chapter may be cited as the "Uniform Premarital Agreement Act". (1987, c. 473, s. 1.) 52B-1.

Definitions:

As used in this Chapter:

(1) "Premarital agreement" means an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.

(2) "Property" means an interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings. (1987, c. 473, s. 1.) 52B-2.

Formalities:

A premarital agreement must be in writing and signed by both parties. It is enforceable without consideration.

(1987, c. 473, s. 1.) 52B-3.

Content:

(a) Parties to a premarital agreement may contract with respect to:

(1) The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;

(2) The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;

(3) The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;

(4) The modification or elimination of spousal support;

(5) The making of a will, trust, or other arrangement to carry out the provisions of the agreement;

(6) The ownership rights in and disposition of the death of the benefit from a life insurance policy;

(7) The choice of law governing the construction of the agreement; and

(8) Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.

(b) The right of a child to support may not be adversely affected by a premarital agreement. (1987, c. 473, s. 1.) 52B-4.

Effect of marriage:

A premarital agreement becomes effective upon marriage. (1987, c. 473, s. 1.) 52B-5.

Amendment, revocation:

After marriage, a premarital agreement may be amended or revoked only by a written agreement signed by the parties. The amended agreement or the revocation is enforceable without consideration. (1987, c. 473, s. 1.) 52B-6.

Enforcement:

(a) A premarital agreement is not enforceable if the party against whom enforcement is sought proves that:

(1) That party did not execute the agreement voluntarily; or

(2) The agreement was unconscionable when it was executed and, before execution of the agreement, that party:

a. Was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;

b. Did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided; and

c. Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.

(b) If a provision of a premarital agreement modifies or eliminates spousal support and that modification or elimination causes one party to the agreement to be eligible for support under a program of public assistance at the time of separation or marital dissolution, a court, notwithstanding the terms of the agreement, may require the other party to provide support to the extent necessary to avoid that eligibility. Before the court orders support under this subsection, the court must find that the party for whom support is ordered is a dependent spouse, as defined by G.S. 50-16.1A, and that the requirements of G.S. 50-16.2A regarding postseparation support or G.S. 50-16.3A regarding alimony have been met.

(c) An issue of unconscionability of a premarital agreement shall be decided by the court as a matter of law. (1987, c. 473, s. 1; 1995, c. 319, s. 11; 1997-456, s. 27.)52B-7.

Enforcement: void marriage:

If a marriage is determined to be void, an agreement that would otherwise have been a premarital agreement is enforceable only to the extent necessary to avoid an inequitable result. (1987, c. 473, s. 1.) 52B-8.

Limitation of actions:

Any statute of limitations applicable to an action asserting a claim for relief under a premarital agreement is tolled during the marriage of the parties to the agreement. However, equitable defenses limiting the time for enforcement, including laches and estoppel, are available to either party. (1987, c. 473, s. 1.) 52B-9.

Application and construction:

The Uniform Premarital Agreement Act shall be applied and construed to effectuate its general purpose to make uniform among the states enacting it, the law on premarital agreements. (1987, c. 473, s. 1.) 52B-10.

Severability:

If any provision of this Chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the Chapter which can be given effect without the invalid provision or application, and to this end the provisions of this act are severable. (1987, c. 473, s. 1.) 52B-11.

Advantages of premarital agreements for both parties:

Avoiding Litigation Costs

Protecting against Fears of Family Members

Protecting Family Assets

Protecting Business Assets

Protection Against Creditors

Child Custody and Support Guidlines

Predetermined Disposition of Property

To order the form, close this window and click the order icon.

Disclaimer: This law summary is not legal advice. If you are not an attorney, you should consult an attorney about serious legal matters.

North Carolina Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - with Financial Statements

North Carolina Statutes

Short title: This Chapter may be cited as the "Uniform Premarital Agreement Act". (1987, c. 473, s. 1.) 52B-1.

Definitions:

As used in this Chapter:

(1) "Premarital agreement" means an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.

(2) "Property" means an interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings. (1987, c. 473, s. 1.) 52B-2.

Formalities:

A premarital agreement must be in writing and signed by both parties. It is enforceable without consideration.

(1987, c. 473, s. 1.) 52B-3.

Content:

(a) Parties to a premarital agreement may contract with respect to:

(1) The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;

(2) The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;

(3) The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;

(4) The modification or elimination of spousal support;

(5) The making of a will, trust, or other arrangement to carry out the provisions of the agreement;

(6) The ownership rights in and disposition of the death of the benefit from a life insurance policy;

(7) The choice of law governing the construction of the agreement; and

(8) Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.

(b) The right of a child to support may not be adversely affected by a premarital agreement. (1987, c. 473, s. 1.) 52B-4.

Effect of marriage:

A premarital agreement becomes effective upon marriage. (1987, c. 473, s. 1.) 52B-5.

Amendment, revocation:

Enforcement:

(a) A premarital agreement is not enforceable if the party against whom enforcement is sought proves that:

(1) That party did not execute the agreement voluntarily; or

(2) The agreement was unconscionable when it was executed and, before execution of the agreement, that party:

a. Was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;

b. Did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided; and

c. Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.

(c) An issue of unconscionability of a premarital agreement shall be decided by the court as a matter of law. (1987, c. 473, s. 1; 1995, c. 319, s. 11; 1997-456, s. 27.)52B-7.

Enforcement: void marriage:

Limitation of actions:

Application and construction:

Severability:

Advantages of premarital agreements for both parties:

Avoiding Litigation Costs

Protecting against Fears of Family Members

Protecting Family Assets

Protecting Business Assets

Protection Against Creditors

Child Custody and Support Guidlines

Predetermined Disposition of Property

To order the form, close this window and click the order icon.

Disclaimer: This law summary is not legal advice. If you are not an attorney, you should consult an attorney about serious legal matters.

North Carolina Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - with Financial Statements

Description

Related forms

Viewed forms

How to fill out North Carolina Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - With Financial Statements?

Form popularity

FAQ

What are the requirements for a prenuptial agreement?

How much does a prenup cost in North Carolina?

Can I write my own prenuptial agreement?

Does a prenup need to be recorded in NC?

How do I get a prenuptial agreement in NC?

Trusted and secure by over 3 million people of the world’s leading companies

North Carolina Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - with Financial Statements

Description

Related forms

Related legal definitions

Viewed forms

How to fill out North Carolina Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - With Financial Statements?

Form popularity

FAQ

What are the requirements for a prenuptial agreement?

How much does a prenup cost in North Carolina?

Can I write my own prenuptial agreement?

Does a prenup need to be recorded in NC?

How do I get a prenuptial agreement in NC?

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