Prenuptial agreements are enforceable in Oklahoma. Given that fifty percent of all marriage end in divorce, having a properly drafted prenuptial agreement is prudent. Prenuptial agreements are also used for civil unions or any other long term agreements between people. A prenup is a contract. The contract is entered into prior to the final marital or civil union. A properly written prenup must meet certain guidelines to be enforceable in the event of divorce.
Uniform Premarital Agreement Act
In Oklahoma, the state has not yet adopted the federal Uniform Premarital Agreement Act. This Act is designed to make the policies and procedures the same across the country.. Many states have adopted the Act, but not Oklahoma. However, premarital agreements are valid under Oklahoma law so long as the following prerequisites are met:
Prenuptial Agreement Requirements
The agreement must not be made with underlying fraud or duress, meaning, one spouse cannot be forced to sign the agreement; and
Each spouse should have the opportunity to consult with an attorney if they so desire and have sufficient time to review the agreement prior to the marriage
- Full disclosure is an essential component for an enforceable prenup. This means that each party to the agreement must know exactly what assets are help by the other party prior to signing the prenup.
- Fairness. Fairness is an element that is left to interpretation by different judges at different times. Fairness can evaluate to position of the parties either at the time the contract ids executed or at the time of divorce. Although contracting is a right if the court finds the agreement to be unconscionable it may not enforce it. Fairness and full disclosure are very closely related principles.
Advantages of Prenups
A premarital agreement allows the parties to the marriage to protect their premarital assets. This agreement can prevent unnecessary litigation regarding who gets what if the parties divorce. The prenup can address issues like alimony and support together with real and personal property. You also determine how retirement accounts are to be divided in the event of divorce.
While there are many advantages to having a premarital agreement, such as financial certainty, and decisions involving children (if the couple has children prior to being married), there are some disadvantages. One huge disadvantage is that the agreement may give the perception that the marriage is doomed to fail. It is hard to not think about the possibility of divorce when signing a premarital agreement, because the precise reason behind the agreement is to protect assets and other property in the event of divorce.
Do I Need a Prenuptial Lawyer
The thing about a prenup is that you dont know if its enforceable for many years after its executed. People might think the prenup is bullet proof only to find out its not worth the paper its written on. Sure you can do it yourself but do you really want to. A Tulsa divorce lawyer is going to have years of experience and for a reasonable fee you’ll be assured to have an agreement that you can depend on