PRENUPTIAL AGREEMENTS IN OHIO
Prenuptial agreements (also called antenuptial agreements or premarital agreements) are contracts entered into before marriage that establish property rights and financial responsibilities in the event of divorce or death. In Ohio, properly executed prenuptial agreements can provide significant protection for premarital assets, business interests, and inheritance rights, while establishing clear financial expectations for the marriage.
WHAT ARE PRENUPTIAL AGREEMENTS?
Prenuptial agreements are legally binding contracts signed by couples before marriage that determine how financial matters will be handled both during the marriage and in the case of divorce or death. These agreements can protect business interests, separate property, inheritance rights, and establish spousal support parameters.
REQUIREMENTS FOR VALID PRENUPTIAL AGREEMENTS IN OHIO
For a prenuptial agreement to be enforceable in Ohio, it must meet several important requirements. The agreement must be in writing and signed by both parties. Both parties must make a full and complete disclosure all assets, liabilities, and income. The agreement must be executed voluntarily, without duress, coercion, or fraud. To avoid claims of duress, the parties should execute the agreement well before the wedding (ideally months in advance). The agreement cannot be unconscionable at the time of execution, nor can it promote or incentivize divorce. While not absolutely required, having each party represented by independent legal counsel strengthens the argument for the agreement’s enforceability.
WHAT PRENUPTIAL AGREEMENTS CAN AND CANNOT ADDRESS
Prenuptial agreements in Ohio can address a wide range of financial matters including classification of separate and marital property, division of assets and debts upon divorce, spousal support limitations or waivers, business ownership and valuation methods, management of finances during marriage, and estate planning provisions. Prenuptial agreements cannot, however, address child custody or parenting arrangements, child support obligations, provisions that violate public policy, or terms that encourage divorce. Courts will not enforce provisions deemed contrary to public welfare. Courts also can reevaluate the fairness of any spousal support provision included in a prenuptial agreement at the time of a divorce.
CALL ZUKERMAN ABOUT PRENUPTIAL AGREEMENTS
If you are considering marriage and wish to protect your assets, business interests, or inheritance rights, consulting with experienced attorneys well in advance of your wedding is essential. Our firm can provide you with confidential, thorough guidance in creating a prenuptial agreement that protect your interests while respecting your relationship.
Call Zukerman, Lear, Murray & Brown Co., L.P.A. today to discuss your prenuptial agreement options.
