A premarital agreement, also known as a prenuptial or antenuptial agreement, is a contract between parties getting married. Some of the reasons couples enter into premarital agreements include:
- To preserve inheritance rights for prior born children;
- To establish property rights;
- To establish alimony rights;
- To disclose and discuss each party’s respective estates; and
- To identify and protect ownership of joint and separate property.
A premarital agreement should be completed well in advance of the wedding date. In the event of a subsequent divorce, the enforceability of a premarital agreement will depend on a number of factors, including the timing of the execution of the agreement, whether the agreement is fair and reasonable for both parties and whether there was any fraud. However, even if the premarital agreement is determined to be unfair in its terms, the Court may still enforce it if it was consented to after a full, fair, and frank disclosure of the other party’s estate.
Although many people are uncomfortable discussing a prenuptial agreement during the whirlwind of planning a wedding, a well-drafted, well-crafted agreement will provide you with the certainty you need in the event of a divorce or follow by death during the marriage. CORNELL LAW FIRM will help you understand the rules, limitations and guidelines Oklahoma Courts and draft an agreement, or review one you are being asked to sign. Contact us today to discuss your options.