If you plan to get married, you may hear the term “Prenuptial Agreement”, “Antenuptial Agreement”, or “prenup” come up. But what exactly is a prenuptial agreement, and how do you go about creating one in the State of Ohio?
A Prenuptial Agreement is a legal contract a couple enters into before marriage. It outlines the couple’s assets and obligations and fully discloses what each party has financially. Prenups specify how financial matters will be handled if the couple were to divorce, or they can be used to supersede the probate process if a spouse were to pass away.
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A prenuptial agreement in the state of Ohio is basically a contract that the parties who are going to get married enter into, which details the assets and obligations, making a full disclosure of those assets and obligations prior to the marriage. It’s important that when people go into a marital relationship, they have a full disclosure and an understanding of what the other party is financially about. There is generally a Schedule A and a Schedule B for each party, indicating their assets and obligations, typically prepared by an attorney due to the technical nature.
Another aspect of prenuptial agreements is to supersede probate law, meaning that in the event of a spouse’s passing, the surviving spouse’s certain rights can be superseded by the prenuptial agreement. This allows for estate planning that may provide for children. These agreements must be notarized or witnessed, and an attorney certificate is usually included to confirm that the clients have reviewed and signed the document, making it a binding agreement in Ohio. If trouble arises later on, having a prenuptial agreement can be beneficial.
Want to know more about Prenuptial Agreements in Ohio? Call Dungan & LeFevre now.
What Can Prenups Cover?
Prenups can cover termination of marriage topics, such as:
- Division of property and assets
- Spousal support/alimony
- Handling of debts
- Rights to retirement accounts or pensions
Prenups can help clarify and avoid disputes if a marriage ends. However, specific legal requirements must be met for a prenup to be considered valid in Ohio.
Requirements for a Valid Prenup in Ohio
Full Financial Disclosure
Both people must fully disclose their assets, debts, income, and other relevant financial information before signing the prenup.
Separate Legal Counsel
Each person must have their independent attorney review the Prenuptial Agreement before signing it. The attorneys cannot represent both people.
Notarization
The prenup must be signed in the presence of a notary public to be legally binding.
Reasonable Terms
The prenup terms cannot be grossly unfair or one-sided. A court can choose not to enforce the Agreement if the terms are found to be unconscionable.
Voluntary Agreement
Both people must enter into the Agreement voluntarily, without any coercion or undue influence from the other.
Call An Ohio Family Law Attorney for Help with Your Prenuptial Agreement
As long as these key requirements are met, a Prenuptial Agreement can be helpful for couples in Ohio who want to plan for the future and protect their financial interests.
Due to the technical nature of this type of document, it is recommended that you work with an experienced family law attorney to ensure your Prenuptial Agreement is legally valid.
Dungan & LeFevre lawyers are ready to help. Call (937) 339-0511 or fill out our online form to talk to a lawyer.