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HomeMy WebLinkAbout909270 RECEIVED 6/16/2005 at 10:57 AM RECEIVING # 909270 BOOK: 588 PAGE: 343 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, VVY 20510671 PRENUPTIAL AGREEMENT This Prenuptial Agreement is made by and between: Ronald B. Howell ("Husband") and _ DEPUTY ~-2.~ )._o IUN B Rrq 9 1S OFFICIAL RECORO BK# ~ RECORDER BANNOC~ COUNTY IDAHO LaRae Wagner ("Wife") and shall be as follows: FACTS Ac Bo Husband and Wife intend to marry June 3, 2005. Each party has consented and agreed that after their marriage, the other party shall have the sole and absolute control of his or her assets, property and estate, whenever acquired, and may freely dispose of the same by gift, sale, testamentary disposition or otherwise, free of any claim to or rights in the same of the other, except as may be otherwise provided for by this Agreement. C. All parties have been advised that Jones, Chartered represents husband in drafting this Agreement and the other party has been advised in paragraph 13 to consult with an attorney of that person's choice or, failing to do so, will have waived whatever legal advice that party may have or should have sought in conjunction with this Agreement. D. Each party has made a full disclosure to the other party of his or her separate property interests and sources of income as well as assets and liabilities. Attached as Exhibit "A" is a schedule of assets and liabilities of Husband and attached as Exhibit "B" is a schedule of assets and liabilities of Wife. These schedules are incorporated into this document by reference. PRENUPTIAL AGREEMENT - Page 1 howel1052705.prenup Eo 00344 The parties desire to enter into this Prenuptial Agreement to set forth in clear terms their respective property rights in the event of a dissolution of the marriage, entry into a legal separation or death and by so defining such property interest, to avoid any misunderstanding as to the nature of the properties held by either party to this Agreement. On a more personal context, each party shall and does undertake to show every consideration and respect for the other notwithstanding the formality of this Agreement. NOW THEREFORE in consideration of the covenants and mutual promises set forth herein and in further consideration of the marriage contemplated by the parties to the Agreement, the parties agree as follows: 1. Full Disclosure. Each party hereby declares that a full disclosure has been made to the other party of his or her present separate property interests, sources of income and liabilities, as above recited and as set forth on the attached schedules. Each party hereby acknowledges that he or she has ascertained and weighed all of the facts, conditions.and circumstances, whether past, present or future, likely to influence the judgment of each herein; that all matters set forth herein have been fully and satisfactorily explained to each party; that each party has given due consideration to the matters set forth herein and clearly understands and consents to all of the provisions hereof; and that each is entering into this Agreement freely and voluntarily, with full knowledge of all pertinent facts and after consultation with and advise from, or the right to do so, an attorney of his or her own choice. 2. Release of Marital Rights. Each party waives any rights or claims either party has in the event of the death of the other except for any express distribution mad~ by the deceased party's will to the other party to this agreement. The foregoing waiver includes a waiver of any PRENUPTIAL AGREEIvI~NT - Page 2 howel1052705.prenup ,.00345 claims for any allowances including the homestead allowance, exempt property allowance and family allowance, as well as any right to make a claim against the separate estate of the other party to this agreement as well as any right to dower, widow's allowance, statutory allowance, intestate succession, fight to elect to take against the will of the deceased party, quasi-community property fights or any share of the deceased party's community property, upon death and all other rights of any nature whatsoever in the property or estate of the first party to die, which the surviving party might acquire as the spouse, surviving spouse, heir at law or next of kin of the first party to die. This waiver extends to the property of the first party to die as of the time of this marriage or as may be acquired in any individual capacity thereafter, or in the deceased share of any community property or in the other's estate upon death. In the event of a simultaneous death, these waivers shall apply for each deceased party as to the estate of the other party to this agreement. 3. Separate Property. Each party shall separately retain all fights and have complete control of his or her own property, whether now owned or hereafter acquired, including those properties set forth on the attached schedules with respect to each party, which the parties recognize is not an exhaustive list, and the rents, issues, profits and increases thereon, and the proceeds from any disposition thereof, free and clear of any claim to or rights in the same by the other party. Each party shall have the absolute and unrestricted fight to enjoy, manage, dispose of or otherwise deal with that party's separate property, at all times during his or her lifetime and upon his or her death, free from any claim that may be made by the other party by reason of their marriage, and with the same effect as if no marriage had been consummated between them. The parties specifically agree that the rents, issues, profits, capital gains and other earnings or increases on their separate property or proceeds from any disposition thereof constitute the PILENUPTIAL AGREEMENT - Page 3 howel1052705.pranup ODO ?O ;805:1.067 ...00346 separate property of the person owning such property and that such property and its rents, issues, profits, capital gains and other earnings or increase or proceeds are not community property. The foregoing shall apply to all property now owned by either of the parties and to all property which may hereafter be separately acquired by either of them in any manner whatsoever. Waiver of Right to Act as a Fiduciary_. Each party waives and renounces the right to act as personal representative, guardian, conservator or trustee of the estate of the other party; provided, however, that neither party shall be disqualified by this waiver to serve and act as personal representative, guardian, conservator or trustee of the other's estate if so designated or nominated by the other. 5. Debts. Husband and Wife agree neither party shall be liable for the debts and liabilities of the other incurred prior to their marriage and further that the separate property of each shall not be encumbered or be subject to attachment for any premarital debts of the other. Each party agrees to indemnify and hold the other party harmless from any such premarital debts. 6. Income. Any income earned by each of the parties after marriage, including wages, shall remain the separate property of the party earning the income and shall not be considered as community property. 7. Life Insurance. The parties agree that upon the death of either party, any life insurance upon the life of the party that is deceased shall go according to the beneficiary designation on said policy and the surviving party to this agreement waives any right to make a claim for any part or all of the proceeds of the life insurance including a waiver of the right to make any claim based upon community property principals. The party designated as the beneficiary on a life insurance policy shall take said policy proceeds free and clear of any claim by the non-deceased party to this agreement. PRENUPTIAL AGREEMENT - Page 4 howel1052705.prcnup 5-' 2.0,5106'71 .. 00347 g. Motor Vehicles. The parties have certain motor vehicles that are their separate property. The parties agree that after marriage, any motor vehicle that is jointly titled shall go to the surviving party to this agreement and any vehicle that is titled in the sole name of a party to this agreement or in the sole name of a party to this agreement and the names of others not a party to this agreement, shall be regarded as the separate property of that individual and shall pass under that individual's will. 9. Joint Account. The parties to this agreement may establish a joint banking account. In the event of the death of one of the parties, the monies in that joint bank account shall go to the surviving party of this agreement. 10. Residence. After marriage, Husband and Wife intend to move into Wife's residence at 10955 N. Nada Lane, Pocatello, D gB202, which shall remain as Wife's separate property. The contents of that residence belong primarily to Wife except as noted on the attached exhibits which list out some of thc more significant items belonging to Husband and to Wife. Upon death or dissolution of the marriage those items belonging to Wife shall go to her or her estate and those items belonging to Husband shall go to him or his estate. Any household items purchased during the marriage shall, in the event of death, generally go to the survivor unless otherwise agreed upon by an addendum to this Agreement. If Wife dies before Husband, Husband may remain in the residence for up to six full months, in addition to the month of death. Husband shall be responsible for the utilities but not the taxes and insurance. Husband agrees in that event he would keep the residence in a habitable condition and leave it in a neat and clean condition upon moving out. 11. Necessary_ Documents. Each party shall, upon the request of the other, execute, acknowledge and deliver any additional documents that may be reasonably required to carry out PRENUPTLAL AGREEMENT - Page 5 howel1052705.prenup the intent of this Agreement, including any such instrument that may be required by the laws of any jurisdiction. Further ifa party desires to sell, mortgage or in any way deal with that party's property, the other party agrees to join in said deed, mortgage or other instrument as may be required without any consideration for so doing other than the covenants set forth in this Agreement. If a party needs the signature of the other party to this Agreement in order to change a beneficiary designation on a pension plan, retirement account or some other such asset or benefit, the other party shall execute such beneficiary designation upon demand. If upon demand by one party the other party refuses to so execute any such document, deed, mortgage, or other such instrument, this demand may be enforced by a court of competent jurisdiction. 12. Transmutation. The parties mutually agree that at no time during their forthcoming marriage shall any act or statement made by either be considered a transmutation of any separate property interest into community property or jointly owned property (either as joint tenants or as tenants in common) except by an express written agreement executed by and between the parties. In addition, under no circumstances shall the following events, either individually or collectively, be considered evidence of an intention, either expressed or implied, of an agreement, actual or implied, to change the character of such separate property: A. The filing of joint tax returns; B. The designation of either spouse as a beneficiary of the other's estate; C. The co-mingling by either spouse of his or her separate funds or separate property with community funds or community property or with the separate funds or separate property of the other spouse; D. Any oral statements by either spouse; E. Any written document by either spouse, other than an express written agreement which specifically purports to modify or supersede this Agreement; PRENUPTIAL AGREEMENT - Page 6 howel1052705.prenup .00249 d05i0671 F. Payment from community funds or from any separate obligation, including but not limited to, payments made on encumbrances, improvements, maintenance, and/or taxes. 13. Representation. This document has been drawn by Attorney Thomas J. Holmes, of the Jones, Chartered law firm who represents Husband. Wife acknowledges having been advised to retain separate counsel and either has retained separate counsel to review this Agreement and advise with respect to said Agreement, or with full knowledge of the right to seek separate counsel, has waived said right by failing to seek separate legal counsel. 14. Effective Date. This Agreement shall take effect upon signing by both parties. 15. Entire Agreement. This Agreement contains the entire understanding of the parties. This Agreement may not be terminated, amended or modified except by an instrument in writing expressly referring to this Agreement and signed by both parties. 16. Successors. This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, successors, grantees, assigns and legal representatives. 17. S everability. If any provision of this Agreement or any right waived or retained by it shall for any reason be declared invalid or unenforceable, the other portions of this Agreement shall nevertheless continue in full force and effect. 18. Idaho Law. This Agreement shall be construed according to the laws of the State of Idaho and the provisions of this Agreement shall be enforced in accordance with the laws of that state even if one or both of the parties are or become domiciled in another jurisdiction. 19. Execution of Two Agreements. Since this Agreement involves real estate and must be recorded in the county where such real estate is recorded, Husband and Wife have agreed to execute tWo Agreements, one that discloses specific assets and values and one that does not. The parties intend the Agreement that does not disclose specific asset values shall be recorded PRENLIPTIAL AGREEMENT - Page 7 how¢l1052705prcnup and the Agreement that does disclose asset values shall be executed in multiple sets so that each has an executed original. DATED this (' day of ~_._ ,20005. Ronald B. Howell DATED this Z day of ,2005. STATE OF IDAHO ) :SS County of Bannock ) On this /~'~/ day of ~ ,2005, before me, the undersigned Notary Public, in and for said State, personally appeared Ronald B. Howell, known to me to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first written above. (seal) NOTARY PUBLIC STATE O., F~ o m oPn? ilr o PRENUPTIAL AGREEMENT -Page 8 how¢l1052?05.prenup 20510671. STATE OF DAHO ) :SS County of Bannock ) On this /"~ day of ~ ,2005, before me, the undersigned Notary Public, in and for said State, personally appeared LaRae Wagner, known to me to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first written above. (seal) NOTARY PUBLIC CoCh'nission Expi}e_~.' ,_.-.-5-/~ - 0 ~ PRENUPTIAL AGREEMENT - Page 9 howell052705 prenup EXHIBIT "A" Husband's Assets and Liabilities Cash Checking (Railroad Credit Union) Money Market (Railroad Credit Union) Checking (Citizens Community Bank) Money Market (Citizens Community Bank) A.G. Edwards Stock A.G. Edwards Money Market Kruse Insurance Stock Kruse of Idaho Falls Stock Kruse Pension Undivided One-Half Interest in Cabin in Palisades legally described on Exhibit 1 Debt for Cabin (to Jean Johnson) Palisades Lot legally described on Exhibit 1 Undivided One-Half Interest in Lot in Alpine, Wyoming legally described on Exhibit 1 Personal Property Safeco Life Cash Value AAL Life Cash Value Glacier Bancorp, Inc. Stock Safeco Life - Life Value g0 10 71 PRENUPTIAL AGREEMENT - Page 10 howell052705 prcnup EXH]BIT "B" Wife's Assets and Liabilities gOo106 Key Bank Checking Bank of Commerce Savings Citizens Bank CD A.G. Edwards IRA A.G. Edwards Cash & Money Fund A.G. Edwards Mutual Funds Thrift Savings - 401K Civil Service Retirement Payout of Accrued Annual Leave House at 10955 N. Nada Lane, Pocatello, legally described on Exhibit 2 2001 Subaru Civil Service Pension upon Wife's Retirement Dan Wagner's Great Western Malting Retirement PRENUPTIAL AGREEMENT: Page 1 I howel1052705.prenup ,.00354 20510671 EXHIBIT 1 Parcel 1: Lot 09, Block 2, Lot 10, less the following: Point of Beginning of said property is the Northeast comer of Lot 10, Block 2, Royal Vacation Homes Subdivision, Bonneville County, Section 28, Township 2 South, Range 46 East of the Boise Meridian. From this point of beginning, said property extends North 85 ° 16'30" West a distance of 40 feet; thence South 0°17'57'' East a distance of 40 feet; thence South 85o16'30'' East a distance of 40 feet; thence North 0°17'57'' West a distance of 40 feet to the point of beginning, said property containing 0.037 acres, more or less, acCording to the recorded plat thereof. Parcel 2: Lot 16, Block 3, Royal Vacation Homes Subdivision to the Northeast Quarter (NE 1/4) of Section 28, Township 2 South, Range 46 EBM in Bonneville County, Idaho. Parcel 3' Lot 3, Block 2, Alpine Estate Subdivision in Section 20, Township 37, Range 118 in ~County, Wyoming. L±ncoln Exhibit 1 howel105.27.05-exh EX_H~ IT 2 0510671 A TRACT OF L.~N"D IN THE NORTH ~ OF THE ~XFE1/4 N~A1/4 OF SECTION 8, TO~NSHI P 6 SOUTH, RT~NGE 34 EAST, BOi SE MER I D Iit~~, BA/N-NO C K COl]NTT, IDAHO, MORE P/~RT i C ULJ~RL Y DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHIqE S T CORNER OF THE NE1/4 N~A1/4 OF SECTION 8, TOWNSHIP SOUTH, ~GE 34 F&ST, BOISE ~RIDIAN; THENCE SOU774 0 4fl' EAST ON THE WEST 1/16 LINE OF SAID SECTION 8 A DISTANCE OF 2S.0 FEET, MORE OR LESS, TO THE SOUTH LIzXFE OF CHUBBUCK ROA2D; THENCE SOUTH 82° 28' EAST ON THE SOUTH L, INE OF Ci~-o-BBUCK ROAD 312.0 FEET TO A POIN~I'; THENCE SOUTH 0 o 48' EAST 2.00.8 FEET TO THE TRLPE POINT OF BEGINNING; ' THENCE SOL'-I~H 89° 46' 'EAST -t$6 F~T-;'---T-~-ENCE SOUTH 0° 48' EAST, 200.9 FEET; THENCE NORTH 89° 46' W~ST 156 FEET; TH?~NCE NORTH 0© 48' WEST 200.9 FEET TO THE POINT O? BEGiN-NING ''