Is a prenuptial agreement right for me? Prenuptial agreements or “prenups” have a bad reputation based upon a misunderstanding of their purpose in most circumstances. When you and your fiancé enter into a prenuptial agreement in Oklahoma it has benefits for both parties. Oklahoma prenuptial agreements can remove the concern that one party to the marriage is entering into the arrangement for monetary gain. In Oklahoma prenuptial agreements can remove the issue of money from a marriage and protect your assets before you enter into marriage.
At Cannon & Associates, our family law attorneys in Oklahoma City, OK can help you and your fiancé understand the benefits of a prenuptial agreement in Oklahoma. Call now at (405) 657-2323 for a free confidential consultation to get your questions surrounding prenuptial agreements in Oklahoma answered today.
Prenuptial Agreements in Oklahoma
Many people in Oklahoma want to remove the question of whether a marriage is based on the relationship or monetary gain. Prenuptial agreements in Oklahoma create a contract between the parties that lays out what will happen to the parties’ property if the marriage ever fails.
What Issues Can a Prenuptial Agreement Address?
Prenuptial agreements in Oklahoma, as in most states, can address many issues, including:
- Prenuptial agreements can dictate what property is defined as marital property and what property is defined as separate property, both now and in the future.
- Prenuptial agreements allow the parties to decide what property would be returned to each separate party and what would be divided by divorce court, if one party seeks a divorce.
- Prenuptial agreements can protect family heirlooms or sentimental items, such as a wedding ring or firearms that have been in the family for generations.
- Additionally, a prenuptial agreement can dictate that the parties are required to go to mediation early in the divorce process, if one party seeks a divorce.
What Issues Can a Prenuptial Agreement Not Address?
Prenuptial agreements in Oklahoma, as in most states, cannot address some issues, which many people wish they could address. Some of the issues you may assume can be addressed by a prenuptial agreement in Oklahoma that cannot be addressed include the following:
- Child custody as well as most issues related to children of divorce cannot be addressed in prenuptial agreements. The divorce court or your Oklahoma divorce lawyer will have to assist you in reaching an agreement or court order related to children in divorce.
- Child support amounts and whether or not anyone will pay child support cannot be addressed in prenuptial agreements in Oklahoma
- Generally speaking, family law judges frown upon and likely will not enforce prenuptial agreements that deal with personal issues. An example of this distinction is that prenuptial agreements should not contain which side of the family the parties will spend specific holidays.
Are Prenuptial Agreements Enforceable in Oklahoma?
It depends, prenuptial agreements are basically a contract between two parties in a marriage. Therefore, for a prenuptial agreement “contract” to be enforceable in Oklahoma, it must comply with general terms of enforceable contracts. The following are specific factors that impact whether a prenuptial agreement will be deemed valid by the family law judge in your Oklahoma divorce:
- Written: a prenuptial agreement must be in writing under Oklahoma law
- Voluntary: both parties must have voluntarily entered into the prenuptial agreement for it to be enforceable. This is one of the most contested aspects of prenuptial agreements in Oklahoma. Therefore, our Oklahoma prenuptial agreement attorneys ensure every prenup that we draft includes language to document the voluntary nature of the agreement.
- Duress: prenuptial agreements must be made without fraud, duress, or coercion.
- Disclosure: to be enforceable both parties must fully disclose their assets, debts, income, and financial interests. Withholding financial information can act as a basis to deem a prenuptial agreement void.
What is the UPAA?
The UPAA or Uniform Prenuptial Agreement Act is a multistate act and was written to seek consistency in prenuptial agreements across state lines. The UPAA has been adopted in 28 states as of the writing of this article. Oklahoma has not adopted the UPAA. The benefit of a state’s adoption of the UPAA, include the prenuptial agreements are largely enforceable in every state that has adopted the UPAA. In Oklahoma, as the UPAA has not been adopted, there is a chance that an Oklahoma prenuptial agreement may be enforceable in Oklahoma, but not in another state. Therefore, it is important to work with an experienced Oklahoma prenuptial agreement attorney to increase the likelihood that your prenuptial agreement will be enforceable in other states.
Who Should Have a Prenuptial Agreement in Oklahoma?
There are reasons to consider entering into a prenuptial agreement in more relationships than you make think. Some of the circumstances that make a prenuptial agreement especially beneficial in Oklahoma include the following:
- Business owners and entrepreneurs have unique challenges in divorce proceedings, including the potential risk of being required to turn over a portion of business to their former spouse. Prenuptial agreements provide business owners the opportunity to protect their business as a personal asset and avoid the risk of a spouse seeking a marital share of the business.
- The inheritance of your children from a previous relationship can be better protected with a prenuptial agreement that vests those interests in your children.
- Prenuptial agreements are very commonly used to protect separate property when one or both parties to a marriage have substantial assets outside of the marriage.
In Oklahoma, prenuptial agreements are not only for the wealthy. Prenuptial agreements can provide protections for a variety of interests for several individuals.
Do You Need a Family Law Attorney in Oklahoma for a Prenuptial Agreement?
Working with an experienced Oklahoma prenuptial agreement attorney is worth the investment. It is tempting to try and find a template online and fill in the form yourself; however, the only way to ensure you have protected yourself, your business, your children’s inheritance, or your future is to work with a qualified Oklahoma family law attorney.
Oklahoma, in fact every state, has specific requirements to ensure a prenuptial agreement is enforceable. It is in your interest to meet with a qualified prenuptial attorney and get your specific questions answered before you enter into a potentially un-enforceable prenuptial agreement. Contact Cannon & Associates if you have questions about a prenuptial agreement by calling now at (405) 657-2323.