There are several essential elements of a prenuptial agreement. A prenuptial agreement (prenup) is a legal contract entered into by a couple before marriage, outlining the division of assets, financial responsibilities, and other terms in the event of a divorce. For a prenuptial agreement to be enforceable in Oklahoma, it must meet certain legal requirements that are easily setout by a divorce attorney near you.

1. Voluntary Agreement

Both parties must enter into the prenuptial agreement voluntarily and without coercion, duress, or undue influence. If one party can prove they were pressured or forced into signing the agreement, the court may deem it unenforceable. Its always best to have a witness, like an attorney who represented the party to the agreement on hand as a witness.

2. Full Disclosure

Both parties must fully disclose their financial situation, including assets, liabilities, income, and expenses. Providing accurate and comprehensive financial information is crucial, as hiding assets or providing false information can render the agreement invalid. This family law attorney can explain the agreement to the signer and witness her state of mind when they signed the agreement.

3. Fair and Reasonable Terms

The terms of the prenuptial agreement must be fair and reasonable at the time of execution. If the agreement is grossly unfair or one-sided, the court may find it unconscionable and refuse to enforce it. Think of this a little like a financial statement you give to each other before the agreement is signed. The statement of finances must list all current assets and expected assets you anticipate having going forward.

4. Written Document

The prenuptial agreement must be in writing as oral agreements are not enforceable. To avoid misunderstandings, the terms should be clear and unambiguous.

5. Signatures

Both parties must sign the agreement in order for it to be enforceable. While not strictly required, having the agreement notarized can help verify the authenticity of the signatures and add an extra layer of protection.

6. Legal Representation

It recommended that each party has independent legal representation to ensure that both parties fully understand the terms and implications of the agreement. Independent legal counsel helps to demonstrate that both parties entered into the agreement with full knowledge and understanding of their rights. Don’t simply rely on a form signed by the pries to the agreement as being enough. One of the most successful ways to challenge the agreement is that one of the parties didn’t understand what they were signing. Independent representation ensures this is a less successful argument if and when there is litigation related to division of marital assets.

7. Timing

The prenuptial agreement should be signed well in advance of the wedding. Parties can challenge last-minute agreements on the grounds of duress or lack of adequate consideration.

8. Compliance with State Laws

The prenuptial agreement must comply with Oklahoma’s laws governing such agreements. Familiarity with statutes such as the Oklahoma Uniform Premarital Agreement Act can ensure the agreement meets all legal requirements.

Key Provisions Typically Included in a Prenuptial Agreement

Division of Property

Define what constitutes separate property (owned before marriage) and marital property (acquired during the marriage). Additionally, you should outline how you’ll divide property in the event of a divorce or death.

Debt Allocation

Specify which debts are separate and which are marital. Outline responsibility for paying off debts during and after the marriage.

Estate Planning:

Address issues related to inheritance and the rights of each spouse to the other’s estate, such as how you’ll divide benefits and retirement accounts.

Dispute Resolution:

Include a clause on how disputes regarding the prenuptial agreement will be resolved, such as through arbitration or mediation. You should also outline the process for modifying or amending the prenuptial agreement.

Tulsa Oklahoma Prenup Lawyers

For a prenuptial agreement to be enforceable in Oklahoma, it must be a voluntary, written contract that includes full financial disclosure, fair and reasonable terms, as well as both parties’ signatures. While independent legal representation is advisable, ensuring that the agreement complies with state laws and includes clear, precise language is crucial. By meeting these essential elements, a prenuptial agreement can provide clarity and protection for both parties in the event of a divorce.

Our team here at Tulsa County Lawyers Group will ensure you include all of the essential elements of a prenuptial agreement. If you need help, contact us today by calling (918) 379-4864 or reach us online for a consultation.