Oklahoma prenuptial agreements (“prenup”) are also often called an ante-nuptial agreement. Both “pre” and “ante” mean “before” — in this case, before the marriage.
Most jurisdictions, including Muskogee, Oklahoma, uphold prenuptial agreements.
Couples often come together with significant personal property. Oklahoma prenuptial agreements can be a real aid in maintaining clarity regarding the differences between personal property and marital property.
What is a Prenup?
A prenup acts both as an agreement and as a waiver. It is a contractual arrangement entered into by two people before marriage and it dictates how property, inheritance, alimony, and the like will be handled during the marriage, in the case of a divorce, and in the case of death.
It provides certainty regarding what property will be considered to be separate property and what property will be considered to be marital property. Because of this, Oklahoma prenuptial agreements are viewed as a positive tool to resolve such issues in the case of a Muskogee divorce.
It is important to know that the prenup is also a waiver. By making decisions regarding how property is to be held, you may be giving up some rights that would otherwise be available to you under the law.
Because of this, it is very important that you consider the matter carefully and talk with an experienced Muskogee family law attorney before entering into a prenup.
What Makes Oklahoma Prenuptial Agreements Valid?
A prenup is basically a contract. All the rules of Oklahoma contract law apply. It must be freely entered into by the parties after negotiating its terms, and fully understanding the terms and their ramifications. It will be held invalid if threat, duress, or coercion was used.
The parties must fully disclose their assets and liabilities to each other. The disposition of property must be generally fair to both parties. If not, it may be held invalid.
Oklahoma prenuptial agreements must be in writing and signed by both parties. It must be entered into before the marriage and once entered into, it cannot be amended or altered.
What Can Oklahoma Prenuptial Agreements Cover?
A valid prenuptial agreement can cover how property will be characterized and treated. Even in the case of co-mingled property, if a prenup deems that property to be separate property, it will be treated as such upon divorce or at death. It can outline how a spouse’s business will be handled at divorce or at death.
A prenup can limit or increase the amount that a spouse may take upon the death of the other spouse. It can dictate how debts will be allocated upon divorce.
Oklahoma prenuptial agreements can also cover insurance benefits and inheritance rights. However, it cannot cover issues concerning the custody, support, or visitation of children from the marriage. These issues will remain with the court that hears matters concerning the later divorce of the parties if they choose to divorce.
It is important that each party be separately represented by counsel in the drafting and execution of a valid prenuptial agreement. They can be complex. Contact an experienced Muskogee family law attorney before entering into a prenup.
Low-cost Consultation: Muskogee Family Law Attorney
If you have concerns about Oklahoma prenuptial agreements, contact an experienced Muskogee family law attorney as soon as possible to protect your legal rights.
Call the Wirth Law Office-Muskogee today at 918-913-0725, or toll-free at 1-888-447-7262 [Wirth Law].
