Delaware Prenuptial Premarital Agreement 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.
Delaware Code
Definitions: As used in this subchapter:
(1) "Premarital agreement" shall mean an agreement between prospective
spouses made in contemplation of marriage, and which is effective upon
marriage.
(2) "Property" shall mean an interest, present or future, legal
or equitable, vested or contingent, in real or personal property, including
income and earnings. (70 Del. Laws, c. 462, § 2.)13 Del. C. §
321.
Formalities: A premarital agreement must
be in writing and signed by both parties. It is enforceable without consideration.
(70 Del. Laws, c. 462, § 2.) 13 Del. C. § 322.
Effect of marriage: A premarital agreement
becomes effective upon marriage. (70 Del. Laws, c. 462, § 2.) 13
Del. C. § 324.
Amendment or revocation: After marriage,
a premarital agreement may be amended or revoked only by a written agreement
signed by the parties. Such amended agreement or revocation is enforceable
without consideration. (70 Del. Laws, c. 462, § 2.) 13 Del. C. §
325.
Enforcement; void marriage: If a new 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. (70 Del. Laws, c. 462, § 2.) 13 Del. C. §
327.
Limitation of actions: Any statute of limitations
applicable to an action asserting a claim for relief under a premarital
agreement is tolled during the time that the parties to the agreement are
married. However, equitable defenses limiting the time for enforcement,
including laches and estoppel, are available to either party. (70 Del.
Laws, c. 462, § 2.)13 Del. C. § 328.
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
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Disclaimer: This law summary is not legal advice.
If you are not an attorney, you should consult an attorney about serious
legal matters.