17 Things To Know About Prenuptial Agreements in OK
A prenuptial agreement (prenup) is a common legal document between a couple getting married. We hear the word in movies and television, and read about them in magazines, but what exactly is a prenup, and are they important?
Prenuptial Agreement Facts
- The laws that govern prenups change from one state to the next. If you are thinking about marriage or wondering how the prenup you signed may impact your divorce in Oklahoma, it is best to seek the advice of a family lawyer who handles prenuptial agreements.
- If you are getting a divorce and there is a prenup it may not stand up in court. If you were married in one state, but planning on divorce in a different state, there can be issues.
- Prenuptial agreements spell out a contractual agreement that governs the dispersal of property, alimony, spousal support, and even inheritance at the end of a marriage.
- Prenuptial agreements are not just about divorce they can impact the disbursements of property if one spouse dies.
- There is no way to modify a prenuptial agreement once the couple is married.
- Without marriage the prenup is void.
- Prenups are useful tools that help clarify the property and assets of someone getting married.
- Prenups can help someone protect the inheritance of a minor child.
- Prenups help in both common property and equitable distribution states.
- Prenups reduce the power of the State of Oklahoma when it comes to the equitable distribution of assets during divorce.
What Are the Essential Points of a Prenup?
- To clarify and outline the rights of each spouse when it comes to who owns what.
- A clear map of how property will be divided upon divorce.
- The role and ownership of jointly held property, such as a family business, if one spouse should die or the couple should divorce.
- Outlines the rights of one spouse over the other to manage specific assets, such as the sale of a property or the sale of a portfolio.
- The protection and rights of management for all inherited assets listed in the prenup.
- The financial plan for monetizing the divorce in terms of alimony or payouts.
- The role of financial rights if one spouse should die. For example, does the surviving spouse have control of insurance death payments, or do those go to surviving children or other beneficiaries?
As listed above, there are many reasons why one would consider a prenuptial agreement. However, there are some things that a prenup has no power to control. One of those is child custody. A prenup is a contract between two spouses. A prenuptial agreement also does not affect child support. This is because the rights of a child belong to the child in Oklahoma, so they cannot be controlled by a prenuptial agreement.
Not all prenuptial agreements are valid. If you are going through a divorce and there is a prenuptial agreement in place, a family lawyer can help you understand your rights under that contract and whether that contract is valid.
Brown and Gould Law Firm provides family law services throughout the state of Oklahoma. Give us a call to learn more about your rights and protections under a prenuptial agreement.