Week 1: Case File 2
Debbie Heiner
Premarital Agreement Preamble
THIS AGREEMENT is made this 9th day of July by and between Tran Ng of 2908 Cardo
Place Virginia Beach, Virginia 23453 (Tran) and Malia Barach of 3304 Diana Lee Court
Virginia Beach, Virginia 23451 (Malia), collectively referred to as the parties.
Recitals
Whereas,
A. The parties plan to be married in Kensington, Maryland on or about July 28th,
2014. Tran has been married before with three adult children and four
grandchildren.
B. Each recognizes that the other is gainfully employed and possesses property and
assets independently acquired prior to their intended marriage such that each is
able to provide for his or her own individual needs. Each desires to enter this
agreement realizing that either or both of the parties financial, health, or other
circumstances may change substantially in the future.
C. It is the parties desire to enter into an Agreement listing the rights and privileges
each other will have in control of property upon divorce or death resulting in the
termination of their marriage.
D. The parties have made a full and fair disclosure of their assets without deception,
as labeled in Exhibits A and B in this agreement.
E. The parties have been advised and represented wholly by an attorney of their
choice, given a complete explanation of their rights, given a clear understanding
of what the consequences are for entering into this agreement and how the rights
would be different if they were not to voluntary enter into this agreement and are
fully aware of the terms of the agreement, have not been placed under any
undue duress or coercion during the preparation and signing of the agreement,
and believe the agreement to be fair and representative of the intentions
surrounding their assets.
F. This Agreement shall become effective only upon the marriage of the parties
within a period of one (1) year from the date hereof, and, if such marriage is not
solemnized within said period, then this Agreement shall be null and void.
Agreement
NOW THEREFORE, in consideration of the mutual promises and covenants
set forth herein, the parties mutually agree as follows:
1)
2)
3)
4)
The property obtained prior to marriage, as labeled in Exhibit A and B, will
belong to the respective party, without the rights of the other party to request
ownership.
The parties will have the full authority to do as they please with regard to their
separate property as they would normally have if they were not married. This
includes the right to use, sell, enjoy, manage, gift and convey any property
belonging to the respective party. The other party must relinquish or execute the
documentation that allows the other party to exercise their rights in regards to
their separate property.
Any inheritance received after the parties are married will belong to the party
who inherited it and the other party forfeits any rights or claims to it when the
marriage ends in death or divorce.
Obligations of a party incurred prior to the marriage shall remain the separate
Week 1: Case File 2
Debbie Heiner
obligations of that party. The other party shall not be liable for those obligations,
and shall be indemnified and held harmless from them by the responsible party.
Such existing obligations shall be paid from the separate property of the
responsible party.
5) In the event of the death of one party, their separate property will be distributed
as stipulated in their will.
6) In the event of a divorce, any property obtained and maintained jointly will be
liquidated with the proceeds divided evenly between the parties.
7) In the event of the death of one of the parties, any property obtained and
maintained jointly will become the sole property of the surviving party.
8) Waiver of Rights to Maintenance and Support: In the event of a legal separation,
divorce, or annulment, the parties agree to waive any rights to spousal support
or maintenance of any kind to which either might otherwise be entitled. The
parties agree that this provision may be entered as a complete defense by either
party in response to an action for alimony.
9) The parties agree that this Agreement contains their entire understanding and
that there have been no additional promises, representations, or agreements
made to either party by the other, oral or written, except as set forth herein.
10) The Parties agree to enter into this contract willingly upon the date of marriage
which includes the attached Exhibits related to the Parties. Each party
understands the agreement can only be modified through the mutual agreement
of both parties, in writing.
11) This agreement will be enforced under the law of the Commonwealth of Virginia
at the time of the execution of this agreement.
Each party is aware and reconfirms that signing this agreement now on 8 th
day of July, 2014, will permanently surrender claims he or she would have
had under Virginia Law. Each party is also in agreement that this contract was
formulated from their own doing, without duress or pressure and with the
benefit of individual counsel or through the explicit waiving of this counsel. It
has been agreed upon by both parties that this agreement is fair and
represents their full intentions.
Signature of Prospective Husband: _______________________________
Signature of Prospective Wife: ___________________________________
____________________________Witness #1
____________________________Witness #2
Signed this _________ day of ______________________, 2014
Week 1: Case File 2
Debbie Heiner
Exhibit A
His Primary Assets
Vacation home on the New Jersey shore (assessed at $350,000)
Artworks valued at about $40,000
Bell Laboratories pension
30-foot trawler valued at $125,000
401(k) valued at $350,000
Investment portfolio (current value $325,000)
Week 1: Case File 2
Debbie Heiner
Exhibit B
Her Primary Assets
Vacation cottage in Beverly Farms, Massachusetts (assessed at $200,000)
State pension
36-foot sailboat valued at $50,000
Condominium in North Conway, New Hampshire (assessed at $250,000)
Jewelry valued at $27,000
Investment portfolio (current value $225,000)
