(1) A premarital agreement or marital agreement is unenforceable if a party against whom enforcement is sought proves:
(a) The party's consent to the agreement was involuntary or the result of duress;
(b) The party did not have access to independent legal representation under subsection (2) of this section;
(c) Unless the party had independent legal representation at the time the agreement was signed, the agreement did not include a notice of waiver of rights under subsection (3) of this section or an explanation in plain language of the marital rights or obligations being modified or waived by the agreement; or
(d) Before signing the agreement, the party did not receive adequate financial disclosure under subsection (4) of this section.
(2) A party has access to independent legal representation if:
(a) Before signing a premarital or marital agreement, the party has a reasonable time to:
(I) Decide whether to retain a lawyer to provide independent legal representation; and
(II) Locate a lawyer to provide independent legal representation, obtain the lawyer's advice, and consider the advice provided; and
(b) The other party is represented by a lawyer and the party has the financial ability to retain a lawyer or the other party agrees to pay the reasonable fees and expenses of independent legal representation.
(3) A notice of waiver of rights under this section requires language, conspicuously displayed, substantially similar to the following, as applicable to the premarital agreement or marital agreement:
If you sign this agreement, you may be:
Giving up your right to be supported by the person you are marrying or to whom you are married.
Giving up your right to ownership or control of money and property.
Agreeing to pay bills and debts of the person you are marrying or to whom you are married.
Giving up your right to money and property if your marriage ends or the person to whom you are married dies.
Giving up your right to have your legal fees paid.
(4) A party has adequate financial disclosure under this section if the party:
(a) Receives a reasonably accurate description and good-faith estimate of value of the property, liabilities, and income of the other party; or
(c) Has adequate knowledge or a reasonable basis for having adequate knowledge of the information described in paragraph (a) of this subsection (4).
(5) A premarital agreement or marital agreement or amendment thereto or revocation thereof that is otherwise enforceable after applying the provisions of subsections (1) to (4) of this section is nevertheless unenforceable insofar, but only insofar, as the provisions of such agreement, amendment, or revocation relate to the determination, modification, limitation, or elimination of spousal maintenance or the waiver or allocation of attorney fees, and such provisions are unconscionable at the time of enforcement of such provisions. The issue of unconscionability shall be decided by the court as a matter of law.
(8) A premarital or marital agreement, or an amendment of either, that is not in a record and signed by both parties is unenforceable.
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