Indiana Prenuptial Agreement Requirements

Some decades ago, prenuptial agreements were perceived to be only for wealthy people. Things have evolved, and today, more than half of couples consider prenups an essential element before marriage. The contract allows them to make financial decisions together before getting married. They outline what will happen to their property and debts if their union ends.

If you live in Indiana and contemplate marriage, read on to understand how a prenuptial agreement in Indiana works.

What is a Prenuptial Agreement, Indiana?

A prenup in Indiana is a contract between two spouses before they marry. The agreement predetermines how they wish to handle property and money acquired in marriage. The contract also outlines each party's rights and responsibilities towards their marital property.

Who Needs to Sign a Prenuptial Agreement in Indiana?

Anyone can sign a prenup before getting married. You don't have to be rich and famous to sign the contract.

A prenuptial document reduces the chances of conflicts and disagreements during property division, thus no need for lengthy court hearings waiting for the judge to make the final call.

Also, signing a prenup increases trust between spouses because they get to discuss their financial capacity and debts. This is an excellent idea if you have a significant amount of premarital wealth that you wish to protect. It also helps if you have kids from previous relationships to protect their inheritance and interests.

If you have significant debts before marriage, a prenuptial agreement helps you set things right so you will not have debts you were unaware of.

What Issues Does a Prenuptial Agreement Indiana Cover?

A prenuptial agreement Indiana covers anything money and property related, provided it does not violate the state's requirements. Some aspects to include in the prenup include:

• • Each party's rights and obligations on the money and property acquired in marriage.
  • Regulations on how to buy, sell, transfer or exchange marital property
  • Property division in case of divorce or separation
  • Whether one party will pay alimony to the other after a divorce, how much and the period of payment
  • If each party is eligible for the other's life insurance and other death benefits
  • The state laws that will interpret the contract in case of disputes

It would be best if you did not discuss child custody or support in the prenuptial agreement. The court discusses such issues depending on each parent's capabilities during the divorce.

Indiana Prenuptial Agreement Requirements

Before signing a prenuptial agreement, you should understand the requirements required in Article 11, Title 31 of the state law Code. According to the laws and provisions, the prenup should be in writing and signed by both spouses. According to Indiana prenuptial agreement requirements, it is not mandatory to notarize the contract or have it signed by witnesses. The agreement is signed before marriage but only becomes effective after marriage.

What Are the Requirements for Indiana Prenuptial Agreement Enforceability?

Indiana is among the many states that have approved the Uniform Prenuptial Act to govern prenup enforceability. The court uses the guidelines under this act to determine if a prenup is valid. Some requirements for a valid prenup include:

• • Both spouses should sign the prenuptial agreement willingly
  • The parties must disclose their financial information and liabilities
  • The contract should outline what will happen to their money and property in case of divorce or death
  • The prenup should predetermine if any of the spouses will pay alimony to the other, the amount, and payment period
  • Outline each spouse’s eligibility to life insurance and other benefits in case of death
  • Discuss if inheritance will be included in marital properties

Download a free prenuptial agreement Indiana form from our website to guide you through prenup signing.