When it comes to preparing for marriage, one important legal document that couples may consider is a prenuptial agreement. Often referred to as a prenup, a prenuptial agreement is a contract that couples can create before getting married. This contract establishes how assets will be divided as well as other divorce issues.
What is a Prenuptial Agreement?
Technically, a prenuptial agreement is a form of legal contract between two parties, just like a contract in business or any other context. However, in this situation the contract is between two people who are set to marry each other. The prenup sets out terms regarding how to handle a divorce in the case that the marriage ends up not working out for some reason.
Prenuptial agreements can address a variety of issues, such as property division, spousal support, and even responsibilities for debts incurred during the marriage. It is crucial for couples to understand the laws surrounding prenuptial agreements in Wagoner County, Oklahoma, to ensure that their agreement is legally valid and enforceable.
Requirements for a Valid Prenuptial Agreement
In Wagoner County, Oklahoma, prenuptial agreements must meet certain requirements to be considered legally valid. Failure to meet these requirements can mean that the prenuptial agreement will not be enforceable during the divorce. This can result in a more contentious divorce and lengthier court process which will ultimately be more expensive for both parties.
One requirement for a prenuptial agreement to be enforceable is that the contract must be in writing and signed by both parties voluntarily. Additionally, both parties must provide full disclosure of their assets and liabilities before signing the prenuptial agreement.
Also, Oklahoma law requires that the terms and language of the prenuptial agreement not promote divorce. One way that a prenuptial agreement could be considered promoting divorce is if the terms of the contract provides an extremely disproportionate amount of assets to one spouse. Theoretically, this could entice a spouse to too hastily divorce for material gain rather than trying to work to repair the marriage. This could result in the judge throwing out the prenuptial agreement.
Key Considerations for Drafting a Prenuptial Agreement
When creating a prenuptial agreement in Wagoner County, couples should consider several factors to ensure that the agreement is fair and enforceable. It is important to clearly outline the assets and debts that each party is bringing into the marriage and how they will be treated in the event of a divorce.
If one spouse is coming into the marriage with a business, it may be a good idea to take this into consideration when creating the prenuptial agreement. Perhaps, it would make sense for this spouse to keep the business in the case of a divorce, despite the other spouse contributing in various ways to the profitability of the business during the marriage. On the other hand, the couple could already have started a business which they both own and operate together. This will need to be dealt with in some way in the case of a divorce and therefore should be addressed in a prenuptial agreement.
Couples should also discuss their expectations for spousal support, if any, and how property acquired during the marriage will be divided. In the case of a family home, it may make more sense for one spouse who does not work to earn money to keep the home. Also, certain types of property may be difficult to divide, such as a fine art collection. Perhaps a couple will agree to liquidate the collection in order to make property division simpler.
Child Custody and Child Support
Although prenuptial agreements can be utilized for most issues regarding divorce, the law does now allow prenuptial agreements to determine child custody arrangements or child support. You are also not allowed to include terms for child visitation rights in the prenuptial agreement. If you or your Wagoner prenuptial agreement attorney try to put these terms into the prenup, the judge will not honor these terms. In fact, the court is legally obligated to decide these child-related issues by ordering terms that are in the best interests of the child, regardless of what was agreed to by the spouses prior to marriage.
Consult With a Wagoner Prenuptial Agreement Attorney
You definitely do not want to make any mistakes when crafting a prenuptial agreement in Wagoner County. Many times mistakes can be quite costly and cause confusion and ignite contentious fights that did not need to happen during a divorce. Therefore, if you do not have in-depth knowledge of divorce law you may want to consult with somebody who does. A Wagoner prenuptial agreement attorney will have the expertise required to make sure the terms of the contract are fair, protect your rights, and are enforceable in the case of a divorce.
If you are looking to get married and want to protect yourself in the unfortunate case of a divorce, get in touch with a Wagoner prenuptial agreement attorney at Wirth Law Office – Wagoner. Our team of family law attorneys has the knowledge and experience required to assist clients with prenuptial agreements and can provide the legal advice and representation you need. Call (918) 485-0335 today to schedule a initial consultation with our knowledgeable lawyers.
