Prenuptial & Postnuptial Agreements

Prenuptial agreements may not be romantic, but they can be useful and beneficial to both parties. Given the increase in divorce and corresponding harsh court battles, an increasing number of couples are seeking out these agreements as a preventative and preemptive measure.

Since people are waiting longer to get married, they have more time to build careers and start businesses before getting married. No one plans on a divorce, but many prefer to have an agreement in place in case the worst happens. The truth is that no one knows what the future holds or the type of person you or your significant other will be five (5), ten (10) or twenty (20) years down the road.

At Inner Vision Legal, Attorney Rhonda in OKC has extensive experience drawing up prenuptial agreements. We are happy to advocate for your best interests to ensure that your needs are represented in the agreement.

WHAT IS A PRENUPTIAL AGREEMENT?

A prenuptial agreement is a legal document that discusses how assets will be divided in the event of a divorce or in the event of the death of one of the spouses. Exactly what is addressed within a prenuptial agreement is up to the parties involved. The agreement may include property that each spouse owns, business interests, an inheritance, and alimony. A prenuptial agreement is only binding if the couple marries, and once signed, it cannot be changed post-ceremony.

A prenuptial agreement may include considerations such as:

• What would be considered separate or marital property;
• How assets would be divided if there was a divorce;
• Business ownership in the event of divorce or death; and/or
• The use and sale of property.

A prenuptial agreement cannot address child custody. This is because decisions around child custody are based on the best interests of the child, and there is no way to know those interests in advance.

WHY CONSIDER A PRENUPTIAL AGREEMENT?

A prenuptial agreement provides protection in the event of a death or divorce. Divorces can be drawn out and messy. Oklahoma is a “marital property/equitable division” state, so the division of assets is at the discretion of a judge if the divorcing parties cannot come to an agreement on their own.

ENFORCING A PRENUPTIAL AGREEMENT

Although many states participate in the Uniform Prenuptial Agreement Act, Oklahoma is not one of them. That is one of the reasons why it is critical to consult a family law attorney in OKC who knows Oklahoma law.

According to Oklahoma law, a prenuptial agreement will be upheld in most cases if:

• The agreement is fair;
• Each spouse signed the agreement of their own free will;
• Each spouse disclosed their financial situation before signing the agreement; and
• Each spouse has a general understanding of the other spouse’s financial status.

You do not have to know every detail of each other’s finances; you just need a general idea.

POSTNUPTIAL AGREEMENT

A postnuptial agreement functions exactly like a prenuptial agreement. The only difference is that it is signed after you have already gotten married. It still addresses the same issues, such as the division of assets in the event of a death or divorce.

PROTECT YOURSELF

Each party in a prenuptial agreement should have an attorney review the contract. This ensures that your rights are protected and that the contract serves the best interests of both parties involved.

Inner Vision Legal is ready to help. Call us for a consultation at (405) 724-2525.