Pre-and Post-Nuptial Agreements
Some couples agree upon how their assets will be divided in the event of a divorce before ever filing for divorce. Some do so even before walking down the aisle. Pre-nuptial and post-nuptial agreements are contracts drawn up between spouses that detail how a couple’s finances will be split in the event of a divorce or death.
A pre-nuptial agreement is a contract that is drafted and signed before a couple is married. Prenups allow couples to express their preferences and agree to how finances will be shared during marriage and how they will be divided in case of a divorce. In order for a prenup to be considered valid under Oklahoma law, the agreement must meet the following requirements:
- Must be in writing
- Must be free of any coercion, fraud, duress or overreaching
- Must make full disclosure of finances
- Cannot be lop-sided and unfair
- Cannot have terms that encourage a divorce
While pre-nuptial agreements can be helpful in determining how a couple’s finances will be split, they cannot be used to determine:
- Child support, child custody or visitation
- Personal matters that do not involve finances
- Rules on how the child will be raised
Also known as “separation agreements”. A post-nuptial agreement is similar to a pre-nuptial agreement in that it outlines how a couple’s finances will be handled in the event of a divorce. However, unlike a prenup, a postnup is drafted during the marriage.
Both prenuptial and postnuptial agreements are designed to deal with the financial implications of a divorce. The benefits include:
- Shielding each party from debt that the other spouse may have
- Ensuring that assets are handled and divided in a manner that is desired by the parties
- Protecting intended beneficiaries of inheritances
Honoring Agreements in a Divorce
Even if you and your spouse have a pre- or post-nuptial agreement in place, it is still important to work with an experienced divorce attorney as you begin the process of ending your marriage. As noted above, these agreements do not cover matters such as child support and custody arrangements.
To learn more or for help with your case, contact Edge Divorce and schedule a free consultation.