Factors of an Invalid Prenup

As a Prenup Lawyer in Salt Lake City, we’ve discussed how important a prenup is and although U.S. divorce rates have been in decline in the new millennium, many people still find it advisable or beneficial to create prenuptial agreements that protect their interests and assets in case a divorce happens. It’s true that prenups can be useful agreements to protect people from the harmful fallout of a divorce. However, certain elements of a prenup could lead to the agreement being invalidated by the courts.

The following are a few of the factors that could lead to an invalidated prenup:

Factors of an Invalid Prenup

Fraud will Invalidate a Prenup

All legal contracts have an implied “good faith” requirement, and both sides must honestly represent their positions when entering the agreement. With a prenup, this means a full, honest disclosure of all assets owned upon entering the marriage.

Negotiation of a prenup includes determining what happens to all current and future assets and earnings. A failure to accurately disclose current assets or the values of these assets could be considered fraud. This could lead to a judge invalidating the entire agreement.

Coercion will Invalidate a Prenup

A court will invalidate any prenuptial agreement entered because there was undue pressure on one or more of the parties who signed it. Coercion can be difficult to prove, especially if it comes down to one person’s word against another. But when proven, it invalidates the contract because it was not a reflection of the intent of at least one of the parties.

Unconscionable actions will Invalidate a Prenup

In some cases, courts will invalidate prenups based on gross inequality or the contract lacking basic fairness. This is the most difficult argument to make when seeking the invalidation of a prenup. The agreement being more favorable to one of the parties is not enough reason for it to be invalidated. That inequality must be so large that the court considers it “unconscionable.”

Questions the court will consider include whether each spouse had his or her own attorney to examine the agreement, if all disclosures were made in good faith and if there were any clauses that could not withstand a legal challenge.

Advantages and Disadvantages of Prenuptial Agreements

If you are considering adding a prenuptial agreement to your marriage, it is important to first consider the benefits and disadvantages that such an agreement could have for you. The following are some of the key advantages that come with a prenup:

  • They allow you to protect your property that you had before the marriage
  • They add support to your existing estate plan
  • They clearly define what property will be considered marital property
  • They reduce the possibility of conflict and will save you money should you divorce
  • They establish ground rules and set procedures for deciding all future property-related matters

Although people tend to believe that prenuptial agreements can lead to conflict in a relationship, having communications and expectations in place before the marriage could actually strengthen your relationship, as you are being open and upfront about some important issues right at the outset of your marriage.

However, there are certainly some downsides to these arrangements. Consider the following potential disadvantages:

  • They are not particularly romantic and may add a feeling that your marriage is tarnished
  • The time to agree about certain elements of a prenup may not be right, particularly in the early stages of your relationship and marriage
  • You may actually have certain protections through state law that you would also have through a prenup, making the prenup somewhat redundant and unnecessary

Free Initial Consultation with a Prenup Lawyer

If you need a prenup, have one and are considering divorce, call Ascent Law 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

Ascent Law LLC

4.9 stars – based on 67 reviews


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Adoption Taxpayer Identification Number

The following questions and answers will provide information to taxpayers who need a taxpayer identification number for a child who has been placed in their home pending final adoption.

Adoption Taxpayer Identification Number

Q: What is an Adoption Taxpayer Identification Number?

A: An Adoption Taxpayer Identification Number (ATIN) is issued by the Internal Revenue Service as a temporary taxpayer identification number for the child in a domestic adoption where the adopting taxpayers do not have and/or are unable to obtain the child’s Social Security Number (SSN). The ATIN is to be used by the adopting taxpayers on their Federal Income Tax return to identify the child while final domestic adoption is pending.

Q: Who needs an ATIN?

A: If you are in the process of adopting a child and are able to claim the child as your dependent or are able to claim a child care credit, you may need an ATIN for your adoptive child.

Q: Why do I need an ATIN?

A: Recent tax law changes require that when you list a person’s name on your federal income tax return, you must provide a valid identifying number for that person. During the adoption process, you may not have been able to obtain an existing or a new Social Security Number (SSN) for the child who may already have been placed in your home. If you are eligible to claim the child as your dependent, and you don’t have the child’s SSN, then you will need to request an ATIN in order to claim the child as a dependent and ( if eligible) to claim the child care credit.

Q: How do I know if I should apply for an ATIN?

A: You should apply for an ATIN only if you are in the process of adopting a child and you meet all of the following qualifications:

  1. The adoption is a domestic adoption.
  2. The child is legally placed in your home for adoption by a authorized adoption agency/agent.
  3. The adoption is not yet final, and you are unable to obtain the child’s existing SSN or you are unable to apply for a new SSN for the child pending the finalization of the adoption.
  4. You qualify to claim the child as a dependent.

Q: Can I get an ATIN if I am adopting a child from another country?

A: No. You should apply through the Social Security Administration (SSA) for a valid SSN. When you are adopting a foreign child, upon the child’s entry into the United States you should receive enough documentation from the Immigration and Naturalization Service (INS) to satisfy the Social Security Administration’s requirements for a SSN.

Q: I meet the requirements to apply for an ATIN. What form do I use to apply?

A: The Form W-7A, Application for Taxpayer Identification Number for Pending Adoptions, is used by qualifying taxpayers to obtain an ATIN. To get Form W-7A, you may go to any IRS walk-in site or call 1-800-829-3676. You may also download the form from the IRS website in Adobe PDF format.

Q: How long is the ATIN valid?

A: As soon as the adoption becomes final, the adopting parents should obtain an SSN for the child and notify the IRS of the new SSN. When the IRS is notified of a new SSN for the adopted child, it will deactivate the ATIN. If the adopting parents do not notify the IRS within two years, the ATIN will be automatically deactivated.

Free Consultation with Adoption Lawyer in Utah

If you have a question about a stepchild adoption or if you need a lawyer in Utah, please call Ascent Law at (801) 676-5506. We will 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

Ascent Law LLC

4.9 stars – based on 67 reviews


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Utah Lawyer

utah lawyer

Fіndіng thе rіght Utаh lаwуеr саn bе tоugh tоdау. Thеrе аrе ѕо mаnу сhоісеѕ, hоw dо уоu рісk оnе thаt wіll rерrеѕеnt уоu bеѕt аnd hеlр уоu wіn уоur саѕе. Hеrе іѕ hеlр оn hоw tо рісk a gооd Utаh lаwуеr. It іѕ nо ѕurрrіѕе thаt mоѕt реорlе ѕtrugglе whеn lооkіng fоr a Utаh lаwуеr tоdау. Thеrе аrе ѕо mаnу сhоісеѕ іt саn bе соnfuѕіng аnd іntіmіdаtіng. Thе mеdіа dоеѕn’t hеlр muсh wіth аll thе ѕtоrіеѕ аbоut lаwуеrѕ whо аrе ruthlеѕѕ аnd аrе іn іt juѕt fоr thе mоnеу, оr thоѕе thаt tаkе аdvаntаgе оf реорlе.

Luсkіlу thаt tуре оf Utаh lаwуеr іѕ іn thе mіnоrіtу. Mоѕt аrе vеrу рrоfеѕѕіоnаl аnd vеrу gооd аt whаt thеу dо аnd will hеlр уоu wіth thе bеѕt rерrеѕеntаtіоn роѕѕіblе. Thеѕе lаwуеrѕ, thе оnеѕ thаt еxсеl іn thеіr wоrk, аrе thе оnеѕ уоu wаnt tо fіnd. It іѕ іmроrtаnt tо knоw fіrѕt thаt mоѕt іf nоt аll lаwуеrѕ ѕресіаlіzе іn сеrtаіn areas. Eасh Utаh lаwуеr wіll hаvе a ѕресіfіс fіеld оf lаw thеу hаvе ѕtudіеd аnd рrасtісе. Thе іmроrtаnt thіng іѕ tо fіnd thе bеѕt Utаh lаwуеr thаt hаѕ еxреrіеnсе іn whаtеvеr аrеа уоu hаvе thе nееd fоr rерrеѕеntаtіоn.

Thеrе іѕ соnѕіdеrаblе іnfоrmаtіоn аvаіlаblе оnlіnе оn сrіtеrіа уоu саn uѕе tо fіnd gооd lаwуеrѕ. Hеrе аrе a fеw thіngѕ thаt аrе оftеn оvеrlооkеd аnd аrе іmроrtаnt аѕ wеll. Onе іmроrtаnt сrіtеrіоn thаt іndісаtеѕ a gооd lаwуеr іѕ thеіr wrіtіng ѕkіllѕ. Lаwуеrѕ hаvе tо dо a lоt оf wrіtіng: tо соllесt іnfоrmаtіоn, рrераrе аrgumеntѕ, fоr еvіdеnсе аnd mоrе. Evеrу саѕе rеԛuіrеѕ a dеtаіlеd wrіtіng оf еvеntѕ аnd еvіdеnсе rеlаtеd tо thе саѕе. Thеrе аrе аlwауѕ a lоt оf іmроrtаnt dеtаіlѕ thаt muѕt bе wrіttеn ассurаtеlу аnd ѕо thаt thеу аrе сlеаrlу undеrѕtооd. Our writing has been in the Federal Courts and Utah State Court, even the Court of Appeals and Utah Supreme Court.

Thе оthеr іmроrtаnt сrіtеrіоn thаt good lаwуеrѕ muѕt hаvе іѕ a thоrоugh undеrѕtаndіng оf lаwѕ. Good Utah lаwуеrѕ hаvе a vеrу keen соmрrеhеnѕіоn оf thе Utah Code. Thеу wіll knоw a bасklоg оf саѕеѕ rеlаtеd tо thе ѕресіfіс lаwѕ. Thіѕ іѕ аn іndіѕреnѕаblе ԛuаlіtу оf a gооd аnd ѕuссеѕѕful lаwуеr bесаuѕе thеу hаvе tо uѕе thе lаw іn fаvоr оf hіѕ сlіеntѕ. A соmреtеnt Utаh lаwуеr will аlѕо hаvе wоn a numbеr оf hіѕ оr hеr саѕеѕ. Yоu wаnt tо bе wоrkіng wіth ѕоmеоnе thаt hаѕ a wіnnіng trасk rесоrd. Thіѕ іѕ аlwауѕ аt thе tор оf аnуоnе’ѕ lіѕt іn ѕеlесtіng a lаwуеr- nоthіng nеw hеrе- but іmроrtаnt еnоugh іt ѕhоuld nоt bе оvеrlооkеd.

It іѕ vеrу іmроrtаnt tо wоrk wіth a Utаh lаwуеr thаt hаѕ thе аbіlіtу tо mаіntаіn аn оbjесtіvе оutlооk. Whеn уоu tаlk tо рrоѕресtіvе lаwуеrѕ, trу tо іdеntіfу thоѕе thаt hаvе thе аbіlіtу tо rеmаіn оbjесtіvе аnd nоt bесоmе іnfluеnсеd bу оutѕіdе fасtоrѕ. Thе bеѕt lаwуеrѕ ѕhоuld mаіntаіn thеіr nеutrаlіtу аnd bе аblе tо dесіdе whаt іѕ bеѕt fоr thеіr сlіеntѕ. Anоthеr іmроrtаnt trаіt оf ѕuссеѕѕful Utаh lаwуеr іѕ thаt thеу саn lооk аt thіngѕ frоm thе роіnt оf vіеw оf thе орроnеnt. Thеу ѕhоuld nоt trу tо wrоnglу соnvісt реорlе bесаuѕе іt mіght hаvе аn аdvеrѕе еffесt оn thе соnvісtеd реrѕоn. Thеу ѕhоuld vіѕuаlіzе thе ѕіtuаtіоn frоm thе реrѕресtіvе оf thе орроѕіng раrtу ѕо thаt thеу саn рrеdісt whаt kіnd оf аrgumеntѕ thе орроѕіtіоn mіght rаіѕе.

The Right Law Firm For You

When you are ready, give Ascent Law a call. The lawyers at Ascent Law, LLC care about their clients. They work hard on each case that they handle. They aren’t afraid to be aggressive and give you candid legal advise about your case. Call today (801) 676-5506.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States

Telephone: (801) 676-5506

Ascent Law LLC

4.7 stars – based on 45 reviews


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Why Do We Have Securities Laws in Utah 801-676-5507

https://www.ascentlawfirm.com

Why Do We Have Securities Laws in Utah?

Attorney Greg Lyle answers this question:

As Greg explains in that video, there is a reason the Securities & Exchange Commission exists. There is a federal SEC and there is a Utah SEC.

The USA Securities and also Exchange Commission was started in 1934 in action to the wonderful stock exchange crash of 1929. Congress created the SEC in the hopes that it would serve as an independent and non-partisan agency that would certainly assist manage the handling of securities in the UNITED STATE. Many thanks to the accident of 1929, Congress additionally established numerous brand-new securities laws that the SEC was created to impose.

The primary task of the SEC is to apply a collection of laws, a lot of them established from 1933-1940 that help safeguard capitalists of securities and also the economic climate in its entirety. Congress has offered the SEC the right to bring civil cases against companies that they really feel have actually committed a collection of criminal offenses, such as expert trading, scams, or business that have provided incorrect information. The SEC additionally works together with neighborhood cops, the FBI or the CIA in pursuing criminal fees when the correct laws have actually been damaged.

One of the manner in which the SEC collects information about numerous business to ensure that it could see if any of them have actually broken the law is be calling for that openly held firms submit records four times a year and afterwards a yearly record, as well, revealing their economic numbers. The companies likewise file records with the SEC that lay out how the business did that year and just how it anticipates to do in the future.

These records are absolutely crucial to capitalists when aiming to determine which company to purchase. The funding markets are infamous for upheaval and these reports are crucial for investors who are aiming to figure out which companies are risk-free to buy and which ones aren’t.

The SEC allows anyone to read these records as well as they are available through an on the internet system to review at any moment. The SEC also utilizes this same system to ensure that specific capitalists could submit issues against a firm that they really feel might be breaking the law. This permits each day citizens the chance to call attention to a potentially crooked firm.

A recent pop culture recommendation to the SEC originated from the now-defunct TV program Apprehended Advancement, when the pilot episode featured the SEC boarding a private yacht to confiscate files connected to the Bluth family organisation.

The SEC is a crucial federal government firm that aids firms stroll the straight and narrow as well as assists individual financiers make enlightened choices concerning the ideal companies to buy. If you’re thinking about investing in a company, you should see what is on the SEC online system for that company.

Lawyer Gregory B. Lyle and other attorneys that work with him at Ascent Law LLC are some of the very best attorneys that do securities law in the State of Utah. There are different securities questions you might have, such as what type of offering do I have to do to raise money. Just how much can I get for my brand-new business. What types of forms have to be completed and submitted with the SEC as well as State of Utah so I don’t enter trouble and also avoid going to jail. Ascent Law also litigates with the SEC and also shields you from the government by maintaining you in conformity and also helping you deal with problems when they show up.

Call Greg Lyle if you have a securities law issue in the State of Utah. 801-676-5507

#GregLyle #AscentLaw

Why Do We Have Securities Laws in Utah?
Why Do We Have Securities Laws in Utah?

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah84088United States

Telephone: (801) 676-5506