Uniform Premarital Agreement Act
A regulation that allows the parties of a premarital contract to choose the state's jurisdiction under which their contract will fall. A couple can choose any state in which one of the parties lives or plans to live or the state in which the couple will be married. Because this act has not been passed in all states, parties to a prenuptial contract are also limited to choosing only the states that have passed the Uniform Premarital Agreement Act. Investopedia Says:
The main advantage of choosing to have a prenuptial agreement fall under the jurisdiction of a state that has passed the Uniform Premarital Agreement Act is that many of these states have comprehensive provisions and statutes to resolve the issues associated with prenuptial agreements, such as estate planning, division of property, alimony, financial assets and custody. In other states, rulings on various situations may be less stable due to the fact that some states base their rulings on case law. Related Terms:
Alimony
Estate Planning
Financial Asset
Marital Property
Postnuptial Agreement
Prenuptial Agreement
Property |