Everything to Know About Prenuptial Agreement in Oklahoma
When contemplating marriage, you may sometimes discover that you have more assets than your future spouse. As a result, you may wish to have an agreement outlining how you’ll share marital property while protecting your separate assets. The best solution is to have a prenuptial agreement with your spouse.
Having an agreement doesn’t mean you distrust your future spouse. Instead, it helps you define and separate your rights to own and control the property. But a prenuptial agreement has legal implications, which you should understand before signing.
Read on for more about prenuptial agreements in Oklahoma and some mistakes you should avoid.
But First: What Is a Prenup?
An Oklahoma prenup is an agreement for two prospective spouses, defining their legal rights to property and economic interests before marriage. The prenup highlights detailed instructions for property division if the couples separate or divorce. The premarital agreement may also include clauses on alimony support for either spouse.
What Does an Oklahoma Prenuptial Agreement Cover?
An Oklahoma Prenup broadly covers legal and financial obligations. It includes provisions on the following broad aspects:
- Protecting your assets and financial interests before marriage
- How you’ll split the marital property in case of death or divorce
- Estate planning to ensure your family secures an inheritance
Benefits of Prenuptial Agreement
A prenuptial agreement offers a road map for handling financial interests, including assets, debts, real estate, and alimony. A prenup provides the following benefits:
- Defining your rights and legal obligations on marital and separate property
- Defining alimony in case of a divorce
- Highlighting how to share real estate in the absence of a will
- Clarifying financial uncertainties in case of death or divorce
- Creating a fair agreement for you and your spouse in case of marital differences
- Avoiding court litigation, which may be time-consuming
What Can Void a Prenuptial Agreement in Oklahoma?
In Oklahoma, the general law provisions are mentioned in the Oklahoma Statutes (Title 43, Chapter 121). As such, a violation of the statutes guidelines may void your prenup.
Here are four mistakes you should avoid when signing a prenup in Oklahoma:
Signing an Invalid Agreement
According to Oklahoma’s revised statutes, you should draft your premarital agreement in writing and have it signed by both spouses. The best approach is to have two separate attorneys review the draft before signing it.
Furthermore, attorneys from both sides should offer legal representation when signing the document. Without sufficient legal representation, you may sign an invalid agreement which the courts may void.
Signing Under Pressure
Both spouses should sign a prenup without undue pressure, coercion, or influence. The courts may void the document if there's sufficient proof of force while signing the contract. Examples of coercion include blackmail and threat. Similarly, you should have adequate time to review the document and sign it before the wedding.
Including Unlawful Provisions
A prenup shouldn't contain unlawful provisions that infringe on the rights of either spouse. It is vital to seek legal advice when drafting the document. An attorney will help you include conditions that fairly represent your spouse.
Examples of unlawful provisions may include denying your spouse the right to justice or using the agreement to create a loophole for a divorce.
Defrauding Your Spouse
The courts may void a premarital contract if it defrauds your spouse. For instance, if you fail to disclose information about your assets or financial liabilities, your spouse may challenge the document’s validity. Similarly, if you make a promise and fail to fulfill it, the courts may interpret the act as fraud and void the agreement.
Do you wish to draft a prenup in Oklahoma? Remember to download a blank prenuptial agreement form here.