Virginia Model Letter to Client regarding Antenuptial Premarital Agreements - informational
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How to fill out Model Letter To Client Regarding Antenuptial Premarital Agreements - Informational?
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FAQ
An antenuptial agreement or a prenuptial agreement is an agreement made between parties before getting married, permitting them to individually retain certain assets during the marriage and after the marriage if divorce arises.
Prenuptial agreements are almost always upheld in Virginia, unless it can be shown that one of the parties did not sign voluntarily or they prove that the agreement is unconscionable with a lack of fair disclosure.
Under Virginia law, a prenuptial agreement will become effective upon marriage, and must be in writing and signed by both parties. Virginia prenups are governed by the Virginia Premarital Agreement Act.
Prenups in Virginia are expressly allowed by the Virginia Premarital Agreement Act (Va. Code §§20-147 through 20-155), which sets forth the requirements for entering into a legally enforceable Virginia Prenuptial Agreement, including the content that can and cannot be included in a premarital contract.
§ 20-149. A premarital agreement shall be in writing and signed by both parties. Such agreement shall be enforceable without consideration and shall become effective upon marriage.
Key Points: Support and Division of Assets. Most prenuptial agreements address two key concepts: division of assets (defining and dividing the marital property between the two spouses) at the end of a marriage, and support (ongoing payments from one spouse to the other) upon dissolution of the marriage.
The most common grounds to dissolve a prenuptial agreement include coercion or duress, unconscionability, and failure to disclose. The courts will generally enforce prenuptial agreements; however, when one or more of these grounds exist, the court may see fit to void all or parts of a prenup.
A premarital agreement shall be in writing and signed by both parties. It is enforceable without consideration.
