If you are getting married, you may be wondering whether you should enter into a premarital agreement in Columbus, which you might also hear described as a “prenuptial agreement” or an “antenuptial agreement.” A premarital agreement allows two parties to enter into an agreement before their marriage about certain matters during the course of the marriage, as well as financial issues in the event of a divorce. While that description might sound relatively straightforward, it is essential to understand that there are certain requirements to ensuring that a premarital agreement is valid and enforceable. Our experienced Columbus family law attorneys want to provide you with more information that you need to know about premarital agreements in Ohio.
Premarital Agreements Can Be Beneficial for Everyone
While premarital agreements used to be associated with high-asset individuals or high-net-worth marriages, it is important to know that prenuptial agreements can benefit most parties who are getting married since they can make financial issues easier in the event of divorce regardless of the number of assets or debts.
Prenuptial Agreements Are Different from Postnuptial Agreements
Prenuptial agreements are those that are entered into before marriage, and they are permitted in Ohio. Differently, postnuptial agreements are agreements that two spouses enter into after marriage and are not typically permitted under Ohio law.
Prenuptial Agreements Must Be Signed and In Writing
In order for a premarital agreement in Ohio to be valid, it must be signed by both parties and it must be in writing. Yet these are only two of the requirements for a prenup to be valid and enforceable.
Additional Requirements for an Enforceable Premarital Agreement
Beyond being in writing and signed by both parties, premarital agreements also must be entered into voluntarily by both parties after both parties have fully disclosed complete information about their assets and debts. In addition, the terms of the premarital agreement must be reasonably fair, or a court can decide not to enforce the agreement. To be sure, courts can find premarital agreements to be unenforceable if they are unconscionable, meaning that the agreement is excessively unreasonable.
Prenups Can Include Agreements Concerning Many Issues
If you enter into a prenuptial agreement, that agreement can include a variety of issues, such as:
- How certain property will be classified in the event of a divorce, and whether it will be divisible;
- How individual debt will be handled during and after marriage; and
- How certain property will be passed to beneficiaries.
Parties Cannot Agree to Certain Things in a Premarital Agreement
There are some things that premarital agreements cannot include. You should never put any of the following into a prenuptial agreement:
- Child custody schedules;
- An agreement that one parent will relinquish custody rights in the event of a divorce; or
- An agreement that one parent will not be responsible for child support in the event of a divorce.
Contact a Family Law Attorney in Columbus
Do you have questions about prenuptial agreements in Columbus, or do you need assistance drafting or enforcing a premarital agreement in Ohio? One of our experienced Columbus prenuptial agreement attorneys can speak with you today about your case. Contact Lawrence Law Office for more information.