Thursday, March 5, 2020

Does Adultery Affect Alimony?

Does Adultery Affect Alimony

Alimony means payments for the support and maintenance of a spouse, either by lump sum or on a continuing basis. Alimony is paid by the supporting spouse to the dependent spouse. The general rule is that a spouse is dependent when he or she makes less money than the other spouse. Technically, a dependent spouse is a spouse, whether husband or wife, who is actually substantially dependent upon the other spouse for his or her maintenance and support or is substantially in need of maintenance and support from the other spouse. Alimony is to be paid in such amount as the circumstances render necessary, having due regard to the factors considered by the courts. When the dependent spouse has committed acts of illicit sexual behavior, the supporting spouse is not required to pay any alimony at all. If however, the supporting spouse has also committed acts of illicit sexual behavior then the court is permitted to award alimony. If only the supporting spouse has committed such acts then the court must award alimony. You and your spouse may decide that one of you is entitled to receive alimony payments and may do so without going to court.

If you are unable to agree on the matter, then you can submit the issue to the court for a decision. Alimony is paid by a supporting spouse to a dependent spouse when the court deems it necessary after considering the statutory factors. It is important to remember that regardless of whether alimony is arranged by agreement or ordered by a court, it is taxable to the recipient spouse and tax deductible to the payer spouse. An award of alimony may include, in addition to a sum of money in lump sum and/or periodic payments, transfer of title or possession of personal property and an interest in property, a security interest in or possession of real property. Both periodic and lump sum payments may be for a limited, specified term.

Alimony Payment

The term alimony payment refers to a periodic pre-determined sum awarded to a spouse or former spouse following a separation or divorce. The payment is the actual sum paid to fulfill alimony, which is the obligation to make payments for support or maintenance. Alimony payment structures and requirements are outlined by a decree or court order.

How Alimony Payments Work

Alimony is a legal obligation in which one spouse makes regular payments to the other spouse former or current. Alimony payments are also called spousal or maintenance payments in some parts of the States and are quite common in divorce and/or separation proceedings. Payments are normally issued in cases where one spouse earns a higher income than the other. The conditions of the agreement depend on how long the marriage lasted. When a married couple becomes legally separated or divorced, both parties can agree to the conditions of alimony on their own. This represents the type of financial support to which he or she is accustomed to throughout the life of the marriage. If, however, they can’t come to an agreement, a court may determine the legal obligation or alimony of one individual to provide financial support to the other. Alimony payments may not be issued if both spouses have similar annual incomes or if the marriage is fairly new. A judge or both parties may set an expiration date at the onset of the alimony decree after which time the payer is no longer required to provide financial support to his or her spouse. Alimony can also be terminated in the following situations:

• If the receiving spouse remarries
• If one spouse dies
• If the couple’s child or children become of age and no longer require adult support
• If the receiving spouse makes no effort to become self-sufficient
Refusing to pay or not keeping up to date with alimony payments may result in civil or criminal charges for the payer.

Alimony payments are allowed to be deductible by the payer. The recipient of alimony payments, though, must include them as income on their annual tax returns.

According to the IRS, alimony payments must meet the following criteria:
• Spouses must file separate tax returns
• Alimony payments must be made by cash, check, or money order
• Payments are made under a divorce or separation instrument to a spouse or former spouse
• The instrument must specify payments as alimony
• Payments must be made when spouses live apart
• There’s no liability to make alimony payments after the recipient spouse dies

Alimony does not include child support, noncash property settlements, voluntary payments, or money used to keep up the payer’s property. Instead of cash payments structured into divorce decrees starting in 2019, some tax advisers suggest the higher-earning partner award the spouses an individual retirement account (IRA) instead, which is in effect a tax deduction since no taxes had been paid on the amounts added to the account. The spouse who receives the account would have to pay taxes, though presumably at a lower rate. But the money can’t ordinarily be taken out before age 59.5 without incurring a 10% penalty.

If you can show to the judge that your spouse cheating on you lead to the break-up chances are you won’t have to provide alimony for your ex. Also, you may get a larger share of the matrimonial property. But you need those receipts to prove your spouse spent the marital assets while having an affair. If you forgave your spouse for being unfaithful and you spent a significant amount of time as couple after the affair, the court won’t look at adultery as a contributing factor for getting a divorce unless your spouse was unfaithful again. When it comes to reasons that people choose to get divorced, one of the most devastating is their spouse cheating on them. It is a betrayal that simply cannot usually be overlooked. However, whether or not adultery affects divorce proceedings depends on what aspect of the divorce we are talking about. First, we need to point out that Utah takes adultery seriously – it is a misdemeanor criminal offense. However, in most cases, adultery is not going to be a factor when dividing a couple’s property during the divorce.

If a spouse spent a large amount of the couple’s money on their affair, this might be taken into account when it comes to property division. For this to occur, the spouse who was cheated on would need to gather financial records and receipts to show how much their spouse spent on maintaining their affair. Adultery will also not be taken into account when it comes to decisions pertaining to child custody or visitation unless the affair shows a spouse’s inability to properly care for their child. This is where Utah courts will consider the effect of adultery. Spousal maintenance is a vital part of the separation process. During a marriage, it is not uncommon for one spouse to depend on the other financially. During the divorce process, the courts may order the higher-earning spouse to make alimony payments to a financially dependent spouse.

If a spouse believes that they should not have to pay alimony because they were cheated on, they will need to gather sufficient evidence to prove an affair did occur. This includes gathering phone records, financial statements, and any other evidence that connects their spouse to an adulterous relationship (social media postings, text messages, etc.). While most people tend to think of alimony as something that husbands pay to wives, any spouse who otherwise meets the criteria can receive an award of alimony. As a general rule, the court takes into account the parties’ standard of living at the time they separated. The goal of alimony is to allow the parties to maintain their pre-separation standard of living. Also, according to Utah law, the duration of alimony cannot (absent exceptional circumstances) exceed the length of the marriage. Married for five years? Don’t expect ten years of alimony; it won’t happen.
There are factors the court must consider in deciding whether to award alimony (and how much, for how long), and other factors it may choose to take into account. According to statute, the court shall consider:

• the financial condition and needs of the spouse requesting alimony (the “recipient spouse”);
• the recipient spouse’s earning capacity, taking into account how time spent caring for a child of the payer may have affected that capacity;
• the ability of the payer spouse to provide support;
• the length of the marriage;
• whether the recipient spouse has custody of a minor child who needs support;
• whether the recipient spouse worked in a business that was owned or operated by the payer; and
• whether the recipient paid for or enabled the payer to receive education during the marriage which directly contributed to an increase in the payer’s skills.
The court may also take fault into account when determining an alimony award. Fault includes:
• adultery;
• deliberately harming or trying to harm the other spouse or minor children;
• deliberately causing the other spouse or minor children to fear life-threatening harm; or
• substantially undermining the other spouse’s or minor children’s financial stability in some way.

As mentioned above, the court tries to allow the parties to maintain the standard of living they enjoyed just before they separated. In a very short term marriage with no children, the court might simply try to place the parties back in the positions they were in at the time of the marriage. What if there is simply not enough money, when the parties are in separate households, to maintain the pre-separation standard of living? Rather than tell one party or the other that they’re out of luck, the court will often try to equalize the shortfall; the recipient may not get as much alimony as he or she hoped for, and the payer may have to write a bigger alimony check than he or she would like. Many of us have heard tales of devious spouses who have tried to minimize their income or pad their expenses, or time their divorces so they would have to pay less alimony. Utah courts do not look favorably on these efforts. Let’s say you and your spouse were married for 30 years. You’ve always been the primary breadwinner, and your spouse has taken care of the kids and household so you were free to work long hours and travel for your job. You’re on the cusp of a promotion that comes with a big raise in pay. You’ve been thinking about divorce for a while, and you decide to separate from your spouse now, before the spike in pay kicks in and causes you to have to make a bigger alimony payment. Under the law, if a separation takes place just before an increase in pay that’s due to the effort of both spouses, the court can consider that fact in determining an alimony award.

Modification and Termination of Utah Alimony

Of course, life doesn’t stop changing after divorce, and some of those changes warrant a modification, or even termination, of alimony. You and your spouse may decide to specify some conditions for modifying alimony in the terms of your divorce. For instance, you might agree to reduce alimony by a certain amount when the payer reaches an agreed-upon retirement age.
Factors that may lead to modification include the payer losing a job, taking a pay cut, or retiring; serious illness on the part of the payer or recipient; or some other situation that dramatically affects the ability of the payer spouse to continue making alimony payments. The court will never force a party to pay alimony if doing so means that he or she could no longer be self-supporting. Of course, alimony must come to an end at some point. If the recipient remarries, that is ground for immediate termination of alimony payments. The only exceptions are if the spouses agreed to continue alimony payments even if the recipient remarried, or if they settled on a lump sum payment. The payer’s remarriage has no effect on alimony payments.

Similarly, if the recipient of alimony moves in with a romantic partner, alimony is terminated. Cohabitating couples, whether married or not, tend to provide each other with some financial support. Therefore it would be unfair for the payer spouse to have to provide support the recipient no longer needs. Alimony is a complex issue, and the experience of your attorney can make a big difference in how much you receive or pay.

Adultery Affecting Alimony Lawyer Free Consultation

When you need legal help with alimony in Utah and Divorce, please call Ascent Law LLC (801) 676-5506 for your Free Consultation. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
<span itemprop=”addressLocality”>West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/does-adultery-affect-alimony/

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Will Estate Planning Checklist

Will Estate Planning Checklist

A living trust becomes the owner of assets during your lifetime and avoids probate when you pass away. A testamentary trust comes into effect when you die and may set conditions on the distribution of assets within the trust. These are good options to reduce the tax burden on your estate or to determine the terms and schedule of when assets will be distributed to beneficiaries. This is especially true when you have minor children and do not want for them to inherit everything upon turning 18. A final benefit of creating a trust is that the administration is private which makes it less likely to be contested.

Execute a Health Care Directive

A health care directive, also known as a health care power of attorney, sets out what medical procedures you do not want to receive if you are incapacitated and cannot express your wishes. It also identifies an individual who will make health care choices on your behalf when you cannot. This individual is called a health care agent or proxy.

Execute a Financial Power Of Attorney

A financial power of attorney has limited or broad powers over your financial affairs. You can determine that the power of attorney comes into effect when you are incapacitated and ends when you pass away. Alternatively, a financial power of attorney can take effect immediately and end when you become incapacitated, depending on your circumstances.

HIPAA is a national law that governs the portability of your health coverage and the privacy of your health records. You should make sure your authorizations for who can access your records are up-to-date and still reflect your preferences.

Plan for Your Children’s Inheritance

Decide when and under what conditions your children will receive their inheritance by placing funds in a trust under the control of a trustee. You can combine a trust with a will and other legal tools to create a tailored plan that protects your family members and the assets you leave them.

Update All Beneficiary Forms

Many important assets, such as IRAs, 401ks and other insurance policies, have designated beneficiaries. Review this information to ensure it is still consistent with your wishes. Assets with beneficiaries will pass outside of probate. With that said, check your beneficiary designations every few years to verify that they reflect your current wishes.

Review and Obtain Any Life Insurance

If you do not yet have life insurance, you may want to purchase a policy to take care of your loved ones. Updating your beneficiaries on any existing policies ensures the right person will be able to claim benefits when you pass away. Every estate plan should take life insurance into consideration. It can provide your loved ones with financial support and liquidity to pay any death taxes. In addition, if you own your own business it can be used to fund your Buy-Sell agreement or retirement plans.

Review the Current State And Federal Estate Tax

Depending on the size of your estate, your heirs could be required to pay a significant amount in taxes if your will goes through probate. You can take advantage of some legal tools to safeguard your assets for the benefit of your beneficiaries. Tax laws can change at any time, so be sure to review and plan accordingly.
Plan for Funeral Expenses
Put money aside to save loved ones the burden of financing your funeral. Consider a prepayment plan or special account at your bank that is payable on death. Your lawyer or financial adviser can help you decide what works for you.
Make Your Final Arrangements
Specify before you pass on if you would like to be an organ donor or gift your remains to medical science. Have a family meeting. Let loved ones know whether you would like to be buried or cremated. It is not uncommon to specify where you would like your final resting place to be and what type of funeral and/or memorial service you would like to have. Some people even pick out the music and pictures they want to be displayed. This does not need to be specified in a rigid legal document. You can make your wishes know in a hand-written letter and include it in your estate planning binder.
If You Own a Business, Create A Succession Plan
Your business may be the primary source of your income. Consider a plan that ensures an easy transition to the next generation while giving you income in retirement. Explore different legal options to protect your heirs and your business in the event of your passing. This can include entering into a buy-sell agreement, moving your business into your trust, or simply creating an exit strategy with a trusted employee.
Organize and Store Important Documents
Keep all important documents, such as your will, insurance policies, real estate deeds, trusts, funeral arrangement plans, stock certificates, and debt information in one place. Tell your executor where to find this information to make it easier to organize your estate after your passing. At our law firm, we provide clients with a “Life Organizer” which is a binder with tabs for all important documents. Additionally, it is a good idea to have a scanned copy of all documents stored on a secure server.

Verify All Property Is Titled Correctly

Make sure the title to your home and other real estate assets are in the right names. The title can affect what property is transferred through the right of survivorship and what becomes part of your estate. You can take legal steps to attempt to change property title if necessary.
Notify Family Members of Where You Keep Your Estate Planning Documents
One common misconception people have is that there is some estate planning document repository where your documents are on record. The truth is that you may have the only copy of your documents. If you don’t give a copy to your agents or beneficiaries, or let them know where you store your documents, there is a strong chance that the documents will not be found. Important documents, such as powers of attorney and health care directives, may be required even before your passing. Make things easier on your loved ones by disclosing where important legal documents are kept.
If You Have a Trust, Verify That It Is Fully Funded
A living trust is one way to preserve assets for loved ones, but only if the trust has ownership of those assets. Funding a trust means transferring assets into it or naming the trust to be the beneficiary of an asset after your passing. Similarly, a testamentary trust is funded by placing assets in a trust at the time of your death through a provision in your will. It is best practice to revisit your assets every year and make sure they everything that should be in the trust has been transferred there.
Make a List Of Any Money Owed To You
Simply making a list of all money that is owed to you and putting it with your estate planning documents is a step in the right direction. It is also a good idea to include a copy of any promissory notes or agreements that specify who owes you money and on what terms.
Make a List Of Any Outstanding Debts
Your executor and trustee will have to take care of debts held in your name. Make a list of any debts connected to your assets, such as car loans and mortgages. Itemize open accounts like lines of credit or credit cards and any other debts such as state or federal taxes. Your executor and trustee should pay off all debts prior to distributing any assets so that your beneficiaries do not have to worry about any future claims.
Create a Personal Property Memorandum
To leave certain items such as family heirlooms to specific people, make a list with a designated beneficiary attached to each object. This is called a personal property memorandum and can be attached to your will or trust. It is important to work with an attorney to verify that your written wishes will be upheld.
Cover Estate Planning Basics
A comprehensive estate plan should consider what happens in the event of both death and disability. It should take into consideration what you want to happen to your property upon your death, the financial well-being of your family, the degree to which probate can be avoided, and how to eliminate or minimize estate taxes. These goals can be accomplished through various means, including properly setting up ownership of assets, designating beneficiaries where possible, and executing one or more estate planning forms. In addition to financial matters, an estate planning checklist should also consider the guardianship of any minor children, and medical treatment planning.

Plan Your Asset Ownership
Any asset that has title documents (real estate, motor vehicles, etc.) can be set up so that upon your death the title automatically passes to a co-owner. Most often this is a spouse. The title document must clearly indicate that ownership is held as joint tenants with rights of survivorship, as tenants by the entireties, or as community property. There are two potential downsides to adding someone as a joint owner. First, you will need the joint owner to agree to any sale of, or loan secured by, the property. Second, if the value of the property exceeds a certain amount, it could trigger the federal gift tax.
Cover Your Debts with Insurance
One way to ensure that all of your debts (including burial expenses) are paid in the event of death or disability, and that your loved ones are provided for, is through auto, homeowners, disability, and life insurance.
Get a Last Will and Testament
A last will and testament takes care of any property that must be probated. A last will can also deal with the care of any minor children (or adult children with disabilities). You designate who will get any property that hasn’t been handled through joint ownership or a beneficiary designation, appoint someone you trust as the executor of your estate, and appoint someone you trust to be the guardian or conservator of your minor or disabled children.
Consider a Living Trust
Especially if you have a large estate, or many beneficiaries, a living trust is usually the best choice for handling distribution of property, avoiding probate, and minimizing estate taxes. To avoid probate, most people create a revocable living trust (“revocable” since you may revoke the trust at any time). Property title is transferred from you to the living trust, and you become the trustee. While you are still alive, you control the property. You manage the property the same as if it was still in your name (sell or mortgage it, for example), and may acquire more property and add it to the trust. Upon death, a person you appoint as your successor trustee assures that the property is transferred to those you designate as trust beneficiaries. This transfer does not require probate. The successor trustee would also manage the trust if you become mentally incapacitated. People sometimes create an irrevocable living trust (most often for Medicaid planning), which also avoids probate, but requires the person creating it to give up the right to revoke it.
Consider a Health Care Power of Attorney
A health care power of attorney designates someone you trust to make decisions regarding your health care in the event you are mentally or physically unable to make decisions for yourself. You should discuss your desires for medical treatment with your health care agent (sometimes called a surrogate).
Get a Living Will
A living will, also known as an advance directive, sets forth your wishes regarding what types of life-prolonging medical treatment you do, or do not, want in the event you become terminally ill or injured and are unable to communicate your wishes. A living will goes along with a health care power of attorney, as it can serve as a guide to your agent, or can express your wishes in the event your agent is unavailable at a crucial moment.
Leave Information for Executor and Statement of Desires
This is not a legally binding document, but gives valuable information and guidance to your executor. It should include the information needed to clearly identify and locate all of your financial accounts, insurance policies, credit cards, vehicle loans, and mortgages. It should include contact information for relatives and close friends to be notified of your death; where assets are located (safe deposit boxes, storage units, etc.); and instructions regarding your desires for burial, cremation, funeral ceremonies, organ donation, etc.
• Identify your goals for creating an estate plan: Different people have different reasons for making an estate plan. Some of the most common reasons include the following:
• To ensure minor children are cared for if parents die before the children become adults
• To ensure pets are cared for and financially provided for if something happens to their owners
• To ensure that surviving family members are financially taken care of in the event of a death
• To ensure a family business remains operational and within the family after a death
• To control what happens to assets after a death occurs
• To protect wealth, including a family business or other assets
• To prepare for incapacity by providing instructions for medical care and specifying who should make decisions and manage the affairs of the incapacitated person
• To make a plan for charitable giving
• To make a plan to facilitate the timely and cost-effective transfer of assets outside of the probate process
• To reduce or avoid estate tax on a larger estate
• To take more control over what happens to an inheritance, such as ensuring money is used only to pay for a college education or ensuring money doesn’t go to a child until after his or her 21st birthday
• To provide for a disabled loved one who is receiving government benefits that could be lost due to an inheritance, or to provide for a disabled loved one who cannot manage an inheritance independently
• List the assets you want to include: One of the key reasons for creating an estate plan is to make sure your assets are easily transferred to the new owners you’ve designated. You’ll need to know exactly what assets you want to include in your estate plan. This will not only help to ensure that you have appropriate plans in place to transfer all of your wealth, but also help your family members see exactly what you own so that nothing falls through the cracks.
Some of the assets you’ll want to address in your estate plan include:
• Real estate you own
• Vehicles you own
• Your ownership interest in a business and its assets
• Intellectual property you own, such as valuable patents or a monetized social media account
• Investment accounts
• Personal property including jewelry, books, art, and furniture
• Life insurance policies
• Identify the risks to your assets and make plans to protect them
Some of the risks you may need to think about include:
• Losses due to claims against your business:
• Losses due to nursing home costs
• Losses due to Medicaid estate recovery
• Losses due to creditor claims
• Identify the loved ones you want to provide for and protect
• Decide whether you want to make charitable contributions
• Determine whether your potential heirs or beneficiaries have any special needs
• Determine whether you’ll owe estate tax
• Decide whether avoiding probate is one of your goals
• Think about what will happen if you become incapacitated
• Make sure you have the right insurance policies:
• Determine what legal tools you’ll need
• Implement your plan.

Will Estate Planning Checklist Free Consultation

When you need help from an attorney for an estate plan; whether it is a last will and testament; a durable power of attorney, revocable living trust, or health care directive, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/will-estate-planning-checklist/

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Wednesday, March 4, 2020

How Does A Legal Separation Work?

How Does A Legal Separation Work

You cannot explain the unpredictability of life. So are marriages. In one instance, you are happily married, and you are certain that you will live happily till eternity but then, life happens, and for one reason or the other, you cannot stand each other. If this situation looks a lot like your life, know this, you are not alone, and you may be able to salvage your marriage. If this happens and you live in the state of Utah, you are lucky because you can have some thinking time as you determine what will happen to your marriage. The family law court in Utah lets you file for temporary separation when you need space. In Utah, married parties can file for a temporary separation without filing for divorce, and then obtain temporary orders like the ones which might be entered in a divorce hearing. To get the temporary separation, the parties must be legally married, and both parties have to have residency in the state of Utah for at least ninety (90) days prior to the application. For processing of the temporary separation, the petition has to be filed and served upon the opposing party, along with a twenty-one day summon. As the filing party or the petitioner, you have to take divorce orientation classes (not the same as the divorce education classes) within sixty (60) days of filing the petition. On the other hand, the respondent must take the same divorce orientation class within forty-five (45) days after the court serves them with the petition.

Duration of the temporary separation

This form of Marital Separation Agreement in Utah can last for up to one year; or until the case gets dismissed. It can also last up to the time it gets consolidated with a divorce case. For consolidation of separation and divorce, either party can file a petition for a divorce. To file for a temporary separation, you have to pay a filing fee of. This amount may then get credited to the high fees involved in filing a divorce. The filing fee for divorce is 0, plus needed for the vital statistics form. If the divorce is filed and the cases consolidated, the temporary separation orders remain temporary orders applicable in the divorce case.

A legal separation agreement is a legal document signed by both spouses that details such issues as child custody, spousal support, and living arrangements. In some states, legal advice is required to make a separation agreement legally binding. Your attorney will make application to the court so that a judge can sign your separation agreement. Some states don’t recognize a legal separation. If you come to an agreement in one of these states with your spouse without making it being court ordered, you will have no legal protection under the law should your spouse decide not to follow the agreement.

Benefits to Legal Separation

Pursuing legal separation comes with benefits to ease tension. Living apart gives a couple the opportunities to work on their marriage. A spouse and children can also remain on the working spouse’s healthcare plan. Under legal separation, the marriage can be extended to the 10-year mark, so the less-earning spouse can draw on the other spouse’s social security. Staying married but legally separated means the couple can take advantage of certain income tax benefits, including possible increases in deductions. If divorce is against a couple’s religious beliefs, a legal separation can allow them to live separately and not jeopardize their values. If you are moving out, be sure your name is removed from any rental leases. If your spouse doesn’t pay the rent, you don’t want to be held accountable. When you move out, have your mail forward to your new address or post office box. When it comes to finances, be sure to keep a copy of all addresses, phone numbers, and account information on mortgages, bank accounts, and credit accounts. Have your name removed from any accounts that you no longer want to be responsible for. Put a freeze on all joint bank and credit accounts if you can’t get your spouse to agree to have your name removed. Until the accounts are frozen, you are still legally responsible if they are in both your name and your spouse’s name. It is not unusual for a divorce judgment to award separated spouses the personal property that is in their own possession. If there are important belongings that you leave with your spouse upon separation, you should specify in your separation agreement that those things come to you if you should divorce.

How To File For A Legal Separation

After making the decision to split, many women wonder how to file for a legal separation and what needs to be included in the separation agreement. Before you get started, you need to understand that a separation agreement is a legally binding contract. Therefore, you should put just as much thought into your legal separation as you would any divorce agreements. Most importantly, not all states have laws specifically addressing the concept of a legal separation.. To be sure that all your bases are covered, your separation agreement should contain provisions for the division of property and liability for debts, address how child custody and visitation will be handled, set the amount of temporary child support or alimony to be paid, and any other details that need to be worked out. Once all the necessary paperwork is filled out, the petition will need to be served on your husband, unless both of you are filing jointly. After your husband is served with the petition, he will need to respond within a certain period of time. If both parties agree to the provisions of the separation agreement, all that is needed is the notarized signatures of both spouses so that it can be presented to the court for approval. If one spouse doesn’t agree with the provisions, a counter-petition can be filed. At this stage, it is best to work out disagreements privately, or with the use of a mediator. If an agreement can’t be reached, the matter will need to go before a judge to settle everything. Once everything is settled, the parties need to sign the separation agreement so that it can be submitted to a judge for review and signing. The final document will then be filed with the county clerk. At this time, you should request official copies for both you and your spouse. It’s important to note that in many states, it is possible to convert a legal into a divorce decree at a later time. Since there are time limits in some states, you should contact a lawyer to find out what the specifics are in your state.

Whether a couple can file for legal separation depends on state law. In those states that make legal separation available, the process is often similar to divorce. The couple can enter into their own separation agreement or let the court resolve their marital issues, such as property division and child custody. Once a separation decree is issued, the spouses’ lives are officially separate. For spouses who later decide to divorce, they can often convert their legal separations into a divorce. Although state laws vary, after filing a petition for legal separation in local court, the next step is to notify the other spouse. This is known as service of process. Typically, this responsibility falls on the petitioner — the spouse filing for legal separation. Generally, the petitioner can have legal separation paperwork served by a process server, local sheriff or other adult who is not a party to the case. If the spouses filed a joint petition for legal separation, they might be able to skip this step, depending on the laws of the state. Once the respondent spouse receives the legal separation paperwork, he is usually required to submit a response to the court within a set period of time. In his response, he can notify the court of his agreement or disagreement with the separation terms requested by his spouse, such as property division, child support and custody. If the respondent fails to answer the separation petition, the court is likely to enter a default judgment of separation in favor of the filing spouse. This means she is likely to receive everything she requested in her petition.

Separation Agreement

If both spouses are in agreement with the terms of their separation, such as how they will split property and whether one or both parents will provide a home for the children and make decisions concerning their upbringing, the spouses can enter into a separation agreement. If approved by the court, the terms are incorporated into a separation decree, becoming a court order legally enforceable against both spouses. Spouses who live in states that do not offer legal separation, can also enter into such agreements; however, these agreements are typically treated as private contracts and not converted into court orders. If a couple is unable to reach an agreement, the terms of separation are left up to the court to decide. However, some courts may require the spouses to participate in mediation before the court determines the terms of the separation. As with a divorce, courts decide marital issues based on state law. To determine property division, courts follow either the community property or equitable distribution method. In community property states, the court divides marital property equally between spouses. Equitable distribution states divide marital property in a manner that is fair and just, but not necessarily equal. If spouses have children, the court will also determine legal and physical custody, which it may award to one or both spouses. Physical custody is the right to provide a home for a child and legal custody is the right to make important decisions about his upbringing, such as religion and education.

The court will choose the custody arrangement that serves the best interests of the child. In addition to property and custody issues, the court also establishes child support and spousal support orders if necessary. After a couple is granted a legal separation, many states will allow them to convert the separation into a divorce if they later decide they want to terminate the marriage. However, some states may place limitations on legal separations. For example, in Utah, legal separations only last for one year. Therefore, a separation must be converted into a divorce within that time. Fees and other costs are inevitably part of divorce. The fees vary by each state and county court; in addition, legal fees charged by attorneys for assistance with the filing vary widely. If the divorce is contested, or if you have to negotiate terms, the time and money it takes to complete the process will increase. There are a number of circumstances in which individuals obtain a marital separation agreement. There are instances in which a couple will elect to agree to a marital separation agreement because they want to obtain all of the benefits of a divorce but do not want to actually terminate their marriage. Some couples will elect to enter into a marital separation agreement because of religious beliefs, if the couple is part of a religion that frowns on divorce. In such a case, a marital separation agreement allows these individuals to deal with property; child custody and all other issues associated with what otherwise would be a divorce case without the marriage being dissolved.

In circumstances in which a couple has entered into a stand-alone marital separation agreement, that agreement will last indefinitely. It will remain in effect unless and until the couple decides to reunite or divorce. Beyond a stand-alone marital separation agreement there are also marital separation agreements that are part of an overall divorce case. This type of marital separation agreement actually is referred to by a number of different names, including temporary separation agreement or preliminary separation agreement. This type of marital separation agreement is a temporary contract between a married couple that stays in force until a final divorce decree is granted. The length of time that this type of marital separation agreement remains in effect depends on how long the divorce proceedings last. Typically, a temporary marital separation agreement will last anywhere from 90 days until over a year–again, depending on how long it takes for a divorce case to be finalized. In many cases, a marital separation agreement is a voluntary contract between the parties to a divorce. However, if the couple cannot agree on the terms and conditions of a marital separation agreement, the court will issue a temporary marital separation order. If the court issues an order, it is within the power of the judge to set a time in the future (commonly 60 days) in which the order will be reviewed and reconsidered by the court.

Elements of Marital Separation Agreement

A marital separation agreement will contain a specific set of provisions. It will deal with financial issues including which party will be responsible for which of the debts accumulated during the marriage. The agreement will also set forth which party will be entitled to certain assets obtained during the marriage. Such an agreement will delineate who will have primary custody of any minor children born of the marriage. Parenting time or visitation will also be established within the confines of a marital separation agreement. In dealing with issues pertaining to child custody and parenting time or visitation, there can be certain time frames established and contained within the agreement. For example, although the agreement itself may not have a specific time frame in which it will last, there can be milestones in which certain alterations of custody or parenting time arrangements will be altered or adjusted. Because of the importance of a marital separation agreement–including the length of time in which it will remain in effect–a couple interested in entering into such an agreement needs to give serious consideration to engaging the services of a qualified and experienced attorney (or attorneys–one for each person in a marriage). By obtaining appropriate legal advice and representation you will be in the best position to ensure that you will be able to enter into a suitable and effective marital separation agreement.

Legal Separation Attorney Free Consultation

When you need to file for legal separation in Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/how-does-a-legal-separation-work/

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How Much Does A Loan Modification Affect Your Credit Score?

How Much Does A Loan Modification Affect Your Credit Score

If you fall behind on your mortgage, you have options, but you must be proactive. One of the best ways to get back on track with your mortgage is loan modification The biggest negative effect to your credit from a modification depends upon whether your lender originates a new loan. If your loan modification result in a new loan and part of the original loan principal was forgiven, your mortgage lender may report the old loan as charged off. This can have a very negative effect on your credit score. Most loans, however, do not result in a new loan and simply modify the terms of the original loan. For those loans, only the missed mortgage payments prior to modification will negatively affect your credit. Be sure to ask your lender prior to accepting a modification exactly how the modification will be reported to the credit bureaus.

Modification hurts your credit much less than missed payments
Month after month of missed mortgage payments will badly damage your credit. The negative credit impact of a mortgage modification pales in comparison to the impact of missed monthly payments reported by your lender. Missed payments not only indicate that the borrower may no longer be able to afford the property. Missed payments are also accumulative, meaning the past due balance grows monthly, not to mention fees and interest. Missed mortgage payments will damage your credit much more than loan modification.

Modification is almost always preferable to foreclosure

Foreclosure will very negatively impact your credit score. Foreclosure also stays on your credit report for seven years. Over time, the effects of a foreclosure will fade, but the foreclosure itself is considered a very negative credit event. Only under specific circumstances should you simply allow a property to go to foreclosure auction. Instead, contact an experienced foreclosure defense attorney to discuss your options.

The Home Affordable Modification Program

Loan modification through government programs, such as the Home Affordable Modification Program (HAMP), may have no impact at all. Such programs include loan reporting requirements that result in the mortgage continuing to be reported as current and paid in full, if the requirements of the program are met by the homeowner.

Such programs are intended for people struggling with serious debt problems. In order to qualify, you may already have to have serious debt repayment difficulties. If so, you shouldn’t be concerned about your credit scores because they are already probably poor and you aren’t in a financial position to take on new debt.

Loan Modification and Debt Settlement

Other programs may be referred to as “loan modification” but could hurt your credit scores because they are actually debt settlement. Intentionally allowing a mortgage or any debt to become delinquent will result in the account payments being shown as late in your credit history, and your credit scores will suffer. If you negotiate a lower interest rate or reduced repayment, the account might also be reported as settled or “paid for less than originally agreed, which also will hurt your credit scores. Before entering into a “loan modification” be certain to carefully review the contract terms and understand how your payment history will be reported. Anything other than paid on time and in full will have a negative impact. Credit scores are calculated from the information in consumer credit reports. Whether a loan modification affects the borrower’s FICO score depends on whether and how the lender chooses to report the event to the credit bureau, as well as on the person’s overall credit profile. If a lender indicates to a credit bureau that the consumer has not made payments on a mortgage as originally agreed, that information on the consumer’s credit report could cause the consumer’s FICO score to decrease or it could have little to no impact on the score. Back when lenders started to offer loan modifications, lenders said if you made three temporary loan modification payments, the modification would become permanent. However, lenders never clearly disclosed (and often denied) to their borrowers that the loan modification process allowed the bank to report the lower temporary loan payments as a negative piece of information on their credit history. On the other hand, you appear to have received a permanent loan modification. While you might not feel that the 5 percent rate is great, you got something that most other borrowers that applied for a loan modification did not. Most other borrowers that applied and paid temporary lower payments ended up without a permanent loan modification and with a credit history far worse than when they first met with their lenders. You should look at your credit history and see if there is anything else that might be hurting your credit score. Go to http://www.AnnualCreditReport.com and obtain at least one credit history available to you free of charge. The three largest credit reporting bureaus (Experian, Transunion, and Equifax) manage this site and by law, they must each provide you with a free copy of your credit history, once a year.

While your credit history is free, getting a copy of your credit score will cost you around $10 – but we recommend you do it so you can see a rough approximation of what your lender sees. Once you receive your credit history, you can review it for inconsistencies, mistakes and start to understand whether there is anything you can do other than allowing time to pass that will improve it. If you clean up your credit history, your credit score will improve. Once your credit score is over 720, you should be able to refinance your loan with a different lender. The real issue is whether you have any equity in your home. You could have received the loan modification from your lender even if you had little or no equity in your home. That means that your lender modified your loan even if the amount you owed on your home exceeded the value of the home. If you wanted to refinance today and your home’s value was still lower than what you owe the lender, you wouldn’t be able to get a new loan. In fact, the only way you’ll be able to get a new loan is to wait for your home’s value to go way up or sell the home in a short sale and then buy a new home several years down the road.

Refinancing and loan modifications can affect your FICO score in a few areas. How much depends on whether it’s reported to the credit bureaus as the same loan with changes or as an entirely new loan. If it’s reported as the same loan with changes, three pieces of information associated with the loan modification may affect your score: the credit inquiry, changes to the loan balance, and changes to the terms of that loan. Overall, the impact of these changes on your FICO score should be minimal. If it’s reported as a new loan, your score could still be affected by the inquiry, balance, and terms of the loan, along with the additional impact of a new “open date.” A new or recent open date typically indicates that it is a new credit obligation and, as a result, can impact the score more than if the terms of the existing loan are simply changed. If you’re struggling to keep up with your mortgage payments or you’ve already fallen way behind, a mortgage modification can help you save your home and lighten your financial load. Modifications are offered by both government programs and private lenders. These loan alterations are designed to lower your monthly payments. But if you have your eye on your credit score and are wavering about going forward with a modification, there are a few key factors to keep in mind. Depending on you and the program you choose, the modification may affect your credit scores.

Government Modification Programs

If you have a government-backed loan or a government-insured loan through departments you may qualify for the Home Affordable Modification Program (HAMP). HAMP is a government-sponsored program to help homeowners modify their mortgages and make monthly payments more affordable. According to Experian, these programs have requirements that state a mortgage must be reported as paid in full, so just going through HAMP alone won’t have a negative impact on your credit score.

Lender Modification Programs

If you don’t qualify for HAMP or choose to go through your lender for a mortgage modification, the story might be different. Some lenders may report a modification as a debt settlement, which will have an adverse impact on your credit score. If your credit score is on the low side and you’re already behind on mortgage payments, the impact may be minimal. However, if you’ve maintained a high credit score, a ding from a reported debt settlement may have a larger impact on your credit score. To make sure your credit score is protected, ask your lender how they plan to report the modification to credit bureaus before you finalize the deal.

After Modification

Once your modification is in place, you can use it to improve your credit score. Your lender will report your payment history to the credit bureaus, and if you pay on time each month your credit score will gradually increase as you build up a solid payment history. On the flip side, if you fall behind on your payments under modification, the lender will report this as well. Late payments can take a bite out of your credit score especially if they’re a recurring issue. If you can’t keep up with your mortgage payments and don’t use a mortgage modification, your only alternatives may be a short sale or a foreclosure. A foreclosure will have an enormous impact on your credit score and a lasting impact on future homeownership. It may be a year or more before you can qualify for a loan again. A short sale doesn’t affect your credit score as much as a foreclosure, but it will still lower your score and stay on your credit rating for up to seven years.

Mortgage modification agreements revise the terms of home mortgages. They can be used for lowering mortgage rates, extending the repayment term of mortgage loans and adding past due payment amounts to a mortgage loan. A mortgage modification itself does not affect credit, but having past-due payments at the time of a modification can lower homeowners’ credit scores.

Reducing an Interest Rate Using a Modification Agreement

Mortgage companies use modification agreements for lowering mortgage interest rates. This lowers homeowners’ monthly mortgage payments and can help financially challenged homeowners keep their homes. Modifications are also used for lowering interest rates for homes that have lost value and do not qualify for traditional refinancing. Modifying mortgage loans can motivate homeowners to stay in homes an inability to refinance to a lower mortgage rate may otherwise cause them to abandon. A modification may incorporate additional adjustments to the terms of a mortgage loan according to individual homeowner situations. A modification agreement can lower the mortgage rate and extend the repayment term of a mortgage, or it may change the type of loan from an adjustable to fixed rate mortgage.

Extending Repayment Term of a Mortgage Loan

Mortgage lenders may extend the term of a mortgage loan for lowering payments and assisting homeowners with bringing their mortgage payments current. A 30-year mortgage requires 360 monthly payments. A borrower whose income drops after several years of owning her home and making mortgage payments may ask her mortgage company for a modification that includes lowering her mortgage rate and extending the term of her mortgage to the original 360 months. In cases involving adding delinquent mortgage payments to the mortgage balance, the mortgage term is typically extended by the number of monthly payments added to the mortgage balance.

Adding Past Due Payments to a Mortgage Balance

Mortgage modifications revise the terms of home mortgage documents. They can be used for lowering mortgage rates, extending the repayment terms of mortgage loans and adding past due payment amounts to a mortgage loan. When past-due payment amounts are added to the balance of a mortgage loan, the payment due date is also adjusted and shown in the modification agreement. If past due payments for September, October and November payments are added to the mortgage balance, and a loan modification is effective Dec. 1, the payment due date would be adjusted to Dec. 1, and the mortgage term would be extended by at least three months to keep an increased mortgage balance from causing the monthly payment to rise. Modifying a delinquent mortgage to a current status will show the delinquent payments as current, but does not erase initial reporting of the delinquency on credit reports. Mortgage companies approve modifications based on verifying homeowner hardship and homeowner ability to repay the mortgage according to its modified terms. Supplying all information and documentation requested by your mortgage lender speeds up the modification approval process. Check on the status of your modification request weekly. Your mortgage servicing company may have to get approval of your mortgage modification from the owner of your mortgage or a mortgage insurance company.

A load modification is the result of a negotiation between a borrower and lender, typically over a large loan like a mortgage. Modifications help both sides compromise when the borrower cannot make the current monthly payments. This can save the borrower from foreclosure and credit damage, but the modification may also create tax complications.

Loan Modification Attorney Free Consultation

When you need a loan modification in utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
<span itemprop=”addressLocality”>West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/how-much-does-a-loan-modification-affect-your-credit-score/

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Tuesday, March 3, 2020

Prenuptial Agreements In Utah

Prenuptial Agreements In Utah

If it is important to you that your new partner sign a prenuptial agreement, you should discuss the issue with her as soon as the relationship becomes serious, but at least 6 months before the wedding. If you delay discussing this matter with her, she may feel pressured and resentful. These feelings take time to deal with, and weeks before the wedding is not long enough. Consult with an experienced Utah attorney if you and your would be spouse are considering a prenuptial agreement.
Persons getting remarried are more likely to consider a prenuptial agreement that specifies who will get what in the event of divorce or death. Some people feel that a prenuptial agreement destroys the romance of a relationship and that it sets up a couple to divorce, but the reality is that a prenuptial agreement no more causes a divorce than a seatbelt causes a wreck. Rather prenuptial agreements go a long way in resolving many of the issues that may arise in the event of divorce.

Today, the prenuptial agreement is a common planning device in second or later marriages in which the prospective spouses wish to preserve their assets for children and relatives from a prior marriage. More and more young professionals are also entering into prenuptial agreements. Even couples with few assets and little hope of acquiring substantial wealth can benefit from the prenuptial agreement. Although the requirements for a valid prenuptial agreement vary among the jurisdictions, states often insist that the parties provide full disclosure of their assets, or at least require full disclosure by the party who is seeking to protect his assets from later claims by the other. Because financial matters are often at the heart of marital disputes, the information the prospective spouses glean during the negotiations over the prenuptial agreement can strengthen the marriage. Moreover, because of the required disclosure, neither spouse is likely to have the nasty surprise of learning only after the wedding vows that the other is less financially sound than he appeared during the courtship.
In short, the prenuptial agreement gives the couple the opportunity to learn each other’s views and expectations concerning their assets. The couple’s disagreement on important financial matters prior to the wedding is a valuable piece of information that could, and in some instances probably should, affect the decision to marry. The romantic view of marriage—one without concern for finances, commitment, and responsibility—is an incomplete picture: marriage is, and in some respects has to be, a business. The agreement is not merely a contingency plan for death or divorce; rather, the contract encourages the couple to recognize the economic aspects of marriage and to plan accordingly.
The value of a prenuptial agreement (which is drawn up by an attorney) is in the communication between the partners about their relationship. Sometimes the partners may have different ideas about how things will be handled and a discussion will clarify misunderstandings. Some of the items included in prenuptial agreements are:
• Names-will the wife keep her maiden name?
• Adoption-will the husband adopt the new partner’s children?
• Religion-what religion will the children be reared in?
• Domicile-whose career will determine where the couple lives?
• Money-joint or separate accounts? Who is financially responsibile for the children? Will the spouses own property as a couple or as individuals? What will the children inherit from whom? Are debts in the marriage considered joint debts or not? Who is responsible for bringing how much income into the unit? How will the money be divided and/or used?
• Financial matters in the event of a divorce.
Having clear answers to such questions may be beneficial to the couple.

Validity of Prenuptial Agreements

Under Utah law, prenuptial agreements are valid and can be enforced in a court of law. Utah law looks prenuptial agreements as legally binding contracts that couples enter into in contemplation of marriage. It essentially means that the two spouses negotiate and sign the agreement to decide what will happen when they marry. A prenuptial agreement must be signed before the marriage. If it is signed after the marriage, its not a prenuptial agreement.
A prenuptial agreement is essentially a mutually agreed plan on how the assets of the spouses will be divided in case they divorce. It is basically concerned with the division of the assets of the spouses in case of a divorce. Assets include real property like land and building, personal property like cars, retirement accounts, etc.
While a prenuptial agreement must be signed before the parties marry, it becomes effective only after the parties are legally married.

Who Should Get a Prenuptial Agreement?

Whether or not you should get a prenuptial agreement is a decision that has to be taken by you and your would be spouse. There has to be two parties – you and your would be spouse. You alone cannot make a prenuptial agreement. In the absence of a prenuptial agreement, Utah law will determine the division of your assets in the event of a divorce. As such by having a valid prenuptial agreement in place, you are ensuring that your assets are dealt with according to your wishes in case of a divorce. If you do not have a prenuptial agreement, you essential leave the distribution of your assets post your divorce in the hands of the State of Utah.
If you are considering a prenuptial agreement before your marriage, speak to an experienced Utah attorney. Ideally you should consider a prenuptial agreement in the following cases:
• Debt – Both of you or your spouse is likely to bring in a major debt
• Property – Both of you or your spouse is bringing in property into the marriage
• Disparity – There is significant economic disparity between the two of you. You may be much better off then your would be spouse.
• Second Marriage – This isn’t the first marriage for either or both spouses.
• Children – Either or both spouses have children from another marriage.
An experienced Utah attorney can review your circumstances and draft a tailor made prenuptial agreement for you.
What does a prenuptial agreement cover?
Each prenuptial agreement is unique and made according to the circumstances of the parties to the agreement. Do not use a prenuptial agreement used by your friend or relative. Speak to an experienced Utah attorney for advice on prenuptial agreements. A prenuptial agreement will generally include all or some of the following:

• Property rights – What will happen to the properties of both spouses in the event of a divorce. Under Utah law, a prenuptial agreement can include properties outside the State of Utah. It will all also determine who can create security interest, encumber, mortgage, lease, assign, use, transfer, dispose of or otherwise manage property.
• Alimony – It will specify the alimony to be paid in case of a divorce.
• Insurance benefits
• Any other issues that the parties may mutually agree on as long as it does not violate Utah law and public policy.
What cannot be included in a prenuptial agreement
Under Utah law, certain things cannot be included in a prenuptial agreement. These include:
• Child support
• Medical insurance for children
• Child care coverage
• Health and medical provider expenses for children
It essentially means that a prenuptial agreement cannot limit or impose a cap on the amount of the above. The logic behind this is that child support belongs to the child and not the parents. While it is true that child support is paid to the custodial parent, it is for the benefit of the child. The money is meant to be used for support the child and not for any other purpose. Child support orders can also change if there is a change in circumstances. Utah courts award child support using child support guidelines.
Likewise, a prenuptial agreement cannot determine child custody in advance. During the course of the divorce, the spouses may reach an agreement on child custody but it cannot be part of a prenuptial agreement. Such a clause in a prenuptial agreement will not be enforced by a court in Utah. You can free to include child support and child custody clauses in your prenuptial agreement. Having these clauses will not invalidate the entire agreement. However, it is for you and your spouse to voluntarily adhere to the agreed terms on child support and child custody. In case of any dispute, the courts will not enforce child support and child custody according to your prenuptial agreement. Instead they will pass orders according to the best interests of the child and child support guidelines.
Alimony or Spousal Support
Under Utah law, a prenuptial agreement can include the amount and duration of alimony or spousal support. Utah law also permits the elimination of alimony through a prenuptial agreement. A couple can have a valid prenuptial agreement in place that explicitly states that no alimony will be paid in case of a divorce and the court will uphold the no alimony clause. However if the no alimony clause will result in one spouse becoming impoverished and having to seek assistance, the court will over look the clause and decide on the amount of alimony.

Uniform Premarital Agreement Act

The State of Utah adopted the Uniform Premarital Agreement Act in 1994. This Act attempts to harmonize the law on prenuptial agreement across the country. The Act states that premarital agreements should be enforced as long as they are voluntary, the terms are not unconscionable, there was fair and reasonable disclosure of the parties’ property and financial obligations, and the agreement does not cause either party to become eligible for public assistance or support. A court would retain the right to modify such agreements, even if otherwise valid, to the extent necessary to require a party to financially support a former spouse to the extent necessary to prevent that person from transferring his or her economic dependency onto the state. After this Act, prenuptial agreements came to enjoy a presumption of validity, as long as they were made voluntarily and with full disclosure of financial information. Some courts still maintain the additional requirement that an agreement be substantively “fair” to both parties.

Under Utah divorce laws, a prenuptial agreement will be valid if it meets certain conditions:

• Written – Oral prenuptial agreement will not be enforced by a court in Utah. All prenuptial agreements must be in writing.

• No consideration – Usually in a contract there is some consideration. However for a prenuptial agreement to be valid, there need no be any consideration.

• Contemplation of marriage – A prenuptial agreement must be made in contemplation of marriage. The parties must have determined the terms of the agreement with a definite and upcoming marriage in mind. If the marriage does not happen, the prenuptial agreement does not come into effect.

• Voluntarily singed – Both spouses must have signed the agreement voluntarily.

• Fair and reasonable disclosure – A prenuptial agreement will be invalid if either spouse failed to provide fair and reasonable disclosure of financial obligations and assets. The spouses should have adequate or reasonable knowledge of the each other’s financial obligations and assets.
Ultimately it is for the judge to determine if a prenuptial agreement can be enforced. If you are seeking to enforce a prenuptial agreement in Utah, speak to an experienced Utah attorney.

Changes to a prenuptial agreement

A prenuptial agreement signed before the marriage can be changed by the spouses after the marriage. The spouses can also revoke the agreement. An experienced Utah attorney can assist you change or revoke your existing prenuptial agreement.

Customized Prenuptial Agreement

Every couple is different. There is no specific prenuptial agreement that can be used by all couples. The agreement must be tailored to the specific requirements of each couple. What may work for one couple may not necessarily work for another. The first step in making a prenuptial agreement is meeting an experienced Utah lawyer. The lawyer will ask you questions to know what exactly you are looking for and will also want to ensure that both of you are voluntarily entering into the agreement. After that the lawyer will draft a watertight tailormade prenuptial agreement for you.

Prenuptial Agreement Lawyer Free Consultation

When you need legal help to get a prenuptial agreement, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/prenuptial-agreements-in-utah/

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