Understanding the Prenuptial Agreement in Oklahoma
Prenuptial agreements are treated as contracts in Oklahoma. These contacts are optional ones that prospective spouses may enter into before their marriage. A pre-nuptial agreement is sometimes called a “prenup” or an ante-nuptial agreement.
Although most spouses do not anticipate divorcing before they marry, a prenuptial agreement can make it easier to handle a couple’s property later if they decide to divorce. The prenup acts as a waiver to property rights that a spouse may otherwise assert over marital or other property at the time of divorce. As such, it is important that you consult with an experienced prenuptial agreement attorney before entering into a prenup.
It may be tempting for one of the parties to draft the prenuptial agreement, but that is rarely a good idea. Any ambiguities or advantages will be construed against the party drafting the document. An experienced Tulsa divorce lawyer should draft the document and both parties should be represented by an attorney who can review the document and advise their client regarding its implications and consequences.
Prenuptial Agreements Under Oklahoma Law
Prenups are considered to be contracts and are valid in Oklahoma. The Oklahoma Court of Civil Appeals held in Francis v. Francis, 285 P.3d 707, that prenuptial agreements are to be analyzed as contracts in order to give effect to the mutual intention of the parties, as it existed at the time of contracting. Generally, prenuptial agreements are invoked at the end of a marriage, during divorce, or when one partner dies.
As with all contacts, courts interpreting prenups look first to the language in the document. The court must try to determine the intent of the parties, specifically, what they agreed to in their mind’s eye. The court may also look toward external circumstances to help interpret the agreement in the face of ambiguities in the agreement.
All of the laws and defenses that are available in general contract law also pertain to prenuptial agreements. A prenuptial agreement must be knowingly and willingly entered into. That means that both sides must give full disclosure to the other regarding their assets. Incomplete information regarding assets can invalidate the document. There must be no duress or coercion involved in the process. When there is subtle or overt pressure from one partner for the other to sign a prenup, the contract is not freely entered into.
Prenups must always be in writing and signed by both parties and must conform to Oklahoma law. Mistakes in their drafting can cause an otherwise valid pre-nuptial agreement to be held invalid. The division of property set forth in a prenup must generally be fair. If not, the prenup is open to attack by the other side when one or the other party is seeking to have it enforced.
A prenuptial agreement is one tool that can limit a surviving spouse’s ability to inherit. There are some limitations and if you have questions about your particular circumstances, you should bring your questions to an experienced prenuptial agreement attorney as soon as possible. Okla. Stat. tit. 84 § 44.
Is a Prenuptial Agreement Right For You?
Every person’s situation is unique. In many cases, a good prenuptial agreement can make a lot of sense. It can eliminate the endless bickering over property and alimony at the end of a marriage. It can also be useful when a couple would like to ensure that their property is passed according to their wishes at death.
For those with complex business holdings, a prenuptial agreement can determine how a spouse’s business is handled at either divorce or death. This leads to more business stability in the event of either occurrence.
A prenup may also cover the issue of alimony at divorce. Alimony is often a matter of contention during a divorce. Removing that issue can make it easier for both parties to plan their lives at the end of a relationship.
It is important to understand that Issues of child custody, child support, and visitation cannot be handled as part of a prenuptial agreement.
An Experienced Prenuptial Agreement Attorney Can Help
It is important that both parties to a prenuptial agreement have separate counsel. This ensures that all necessary disclosure takes place, that the parties enter into the agreement freely, knowing how the prenup will affect their future lives. If you are interested in seeing what a prenup can do for you, speak to a prenuptial agreement attorney as soon as possible.
Initial Consultation with a Tulsa Divorce Lawyer
A good prenuptial agreement can make the divorce process much smoother. See how one can help you. Or, if you have questions about an existing prenuptial agreement, get an experienced, reliable Tulsa divorce attorney on your side to help you understand what your options are.
A no-cost initial consultation can help you determine whether the Divorce of Tulsa Law Office can provide the help you need. For a low-cost confidential consultation, call now: 918-924-5526.