An Oklahoma prenuptial agreement is a way for you and your future spouse to determine how property will be divided in the event of a divorce. If you decide to get married without a prenup, you must understand how Oklahoma law determines property division.
In Oklahoma, all property acquired during the marriage is considered marital property, even if one spouse purchased it with their own money. The only exception is if you have a prenuptial agreement stating otherwise.
Prenups are especially important if you make more money than your partner or have more valuable assets—for example if you're an entrepreneur or have been saving up for years to buy a house. A prenup can protect those assets from being distributed equally in divorce.
Suppose you don't have a prenuptial agreement. In that case, Oklahoma law requires that all marital property be divided equally between spouses when they divorce (unless there's evidence that one spouse has made substantial contributions to the other).
What Are the Factors that Should Be Included in a Prenuptial Agreement?
The prenuptial agreement is a document that may contain terms that are specific to the individual case, such as child custody agreements and maintenance payments.
For a prenuptial agreement to be valid in court, it must meet certain requirements. The following points should be included in any prenuptial agreement:
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Property Rights
The property rights section of your prenuptial agreement should include a list of all of the assets and property you and your partner own and a description of any debts you each owe. This includes real estate, cars, stocks, bonds, and other financial investments. You can also have personal property such as jewelry, art collections, or furniture.
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Spousal Support
If a spouse divorces their partner, spousal support is a way for one spouse to provide financial assistance to the other spouse. This can be in the form of alimony, child support, or some other form of support, such as health insurance if they cannot obtain it on their own.
Prenuptial agreements can help ensure that both parties equitably handle spousal support. For example, if one party makes significantly more money than their spouse, they could agree that their partner would receive spousal support until they can get back financially.
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Insurance Benefits
Insurance benefits are one of the most important parts of a prenuptial agreement. You want to ensure that your insurance benefits stay with you, even in the case of a divorce. This means you should get all your life insurance, disability insurance, and other types of insurance benefits in writing before you marry someone.
Furthermore, there are some additional requirements for a valid prenuptial agreement:
- Parties must be legally competent (i.e., of sound mind and not under duress).
- Both parties must have independent legal representation (this means they cannot represent themselves).
- For a binding legal agreement to exist, it must be written down and signed by both parties.
- Both parties must fully disclose all assets, liabilities, debts, and income from all sources (including any assets that may be hidden).
- Both parties must disclose any medical conditions affecting their ability to work or manage money effectively.
- The agreement must state the date of execution and be signed by both parties before the wedding date (or any other event that would trigger a change in assets).
Conclusion
Considering a prenuptial agreement, it is important to know that Contracts Counsel can help. We are an experienced law firm specializing in prenuptial agreements and other contracts for business owners and individuals. Our lawyers have helped clients throughout Oklahoma with their contracts and agreements.
At Contracts Counsel, we understand the importance of your marriage and the future of your relationship. That's why we take the time to get to know you before we start drafting your prenuptial agreement so that we can make sure it meets your needs and expectations. Every couple is unique, so we work closely with you to create an agreement that works for you.
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Meet some of our Oklahoma Prenuptial Agreement Lawyers
Amber M.
Amber Masters has over 9 years of experience as a contracts attorney, helping small businesses with an array of agreements, such as purchase agreements, master service agreements, and employment contracts. She has an extensive background in employment agreements for dentists, doctors, and other health care professionals. She is a highly rated and acclaimed estate planning attorney and personal finance expert, who has been featured on CNBC, NBC, and Yahoo Finance. She successfully launched and sold a fintech startup and can empathize with the issues small and mid-size businesses face. Licensed in Oklahoma and Arizona.
Alan B.
At Barker Law, we provide clients with expertise in contract drafting and review, outside general counsel services, negotiation, commercial litigation, and regulatory navigation. We confidently handle transactional and regulatory matters for businesses and individuals. As our feedback shows, we excel at meeting and exceeding our clients needs.
June 12, 2023
Cannon M.
I am an Oklahoma-licensed lawyer with a focus on guiding startup companies through important early-stage questions, such as entity formation, corporate governance, and fundraising. In my previous role, I drafted Form 1-A offering circulars, Form C offering circulars, and private placement memoranda for startups seeking to raise capital.
September 11, 2023
Opeoluwa O.
I am a seasoned lawyer from Tulsa, Oklahoma, and founder of Abii Law Firm. I am originally from Nigeria but moved to Oklahoma eleven years ago and fell in love with it. I obtained my license to practice law three years ago. I have a passion for the intricacies of business law, and I have a specialized focus in assisting personal, real estate, and medical marijuana businesses in navigating the complex legal landscape and drafting various transactional documents, such as operating agreements, purchase contracts, real estate contracts, and many more. Currently, I live in Tulsa with my husband and beautiful 2 year old daughter.
September 11, 2023
Amber M.
Oklahoma Licensed Attorney
April 2, 2024
William B.
Presently, I am a civil rights and insurance litigation attorney with a focus on representation government entities. Prior to this, I’ve represented some of the largest financial institutions in the world in litigation.
October 15, 2023
Kchris G.
My name is Kchris Griffin. I am an licensed attorney practicing Family and Civil Law in Oklahoma. My goal is to help those in need with receiving efficient and effective legal services.
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Prenuptial Agreement
Massachusetts
How does a prenuptial agreement affect estate planning?
I am getting married soon and I am interested in understanding how a prenuptial agreement would affect my estate planning. I would like to know what steps I should take to ensure that my assets are protected and that my wishes are carried out after I pass away. I am also curious as to how a prenuptial agreement might affect the distribution of my assets to my family members and other beneficiaries.
Briana C.
A prenuptial agreement does not create an estate plan. But it can do two things. First, a prenuptial agreement can create a contractual promise on the part of one or both spouses to do something in particular with their estate plan (such as promising to leave the marital home to the surviving spouse, or promising to leave everything they have to the surviving spouse, or promising to set up a trust, etc. etc.). If this contractual promise is broken, the surviving spouse has a contract claim against the estate of the dead spouse. Second, and almost the opposite, in a prenuptial agreement one or both spouses can waive the rights they would otherwise have by statute, thus freeing up the other spouse to do whatever he or she wants with her estate plan. Without a prenuptial agreement, a surviving spouse is entitled by statute to inherit a certain proportion of the estate of the dead spouse (the exact proportion depends on whether or not the dead spouse has a will, and/or has surviving children). The prenuptial agreement can override these statutory rights and provide that the surviving spouse is not entitled to inherit anything from the dead spouse, except for anything the dead spouse may choose to leave the surviving spouse in his or her will.
Family
Prenuptial Agreement
New York
Prenup
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Family
Prenuptial Agreement
Texas
Can a prenuptial agreement be challenged in court?
I am recently engaged and am considering entering into a prenuptial agreement with my fiancé. We have differing financial backgrounds and I am concerned that the agreement may not be fair to either of us. I want to understand if a prenuptial agreement can be challenged in court and the conditions under which this could happen.
Nicole P.
Texas calls prenuptial agreements "Premarital Agreements". These agreements, just like any other contract, can be challenged in court. A challenge to the agreement does not mean it will be found invalid, however. Surviving a challenge to the premarital agreement is primarily accomplished all the way back to when the agreement is drafted and executed. There are requirements or prohibitions for the agreement terms to be valid, which are too numerous to list here, but can be found in the Texas Family Code, chapter 4. In Texas, no consideration is required, but the Agreement must be in writing, and signed by both parties. It must be free from fraud and duress, and entered into voluntarily. It cannot be unconscionable, and the parties must provide a fair and reasonable disclosure of the property and financial obligations (unless waived). Enforcement of a premarital agreement falls under the Texas Family Code 4.006. Additionally, any provision that would adversely affect the support of children is going to be prohibited. Conservatorship and possession/access (custody and visitation) will always be determined by the Court under the best interest of the children standard, regardless of what may have been put into the agreement. The best way to survive a challenge is to hire a competent attorney to draft the agreement, ensure the agreement complies with the Texas Family Code, provide a fair and reasonable disclosure from both parties, both parties being represented by their own attorney when entering into the agreement, and ensuring the agreement is available for review far in advance of the wedding date.
Family
Prenuptial Agreement
Massachusetts
Is a prenuptial agreement legally binding?
I am planning to get married and I have been advised to consider a prenuptial agreement to protect my assets in the event of a divorce. However, I am unclear on the legal validity and enforceability of a prenuptial agreement and whether it can be challenged or overturned in court. Therefore, I would like to seek the advice of a lawyer to help me understand the legal implications of a prenuptial agreement and ensure that my interests are protected.
Briana C.
Judges in most cases honor and enforce (signed and notarized) prenuptial agreements between two spouses as long as both parties entered it freely and voluntarily and with full knowledge of one another financial circumstances, and the agreement is not "unconscionable." A prenuptial agreement may not be enforced if (1) either party signed it under duress or coercion or undue pressure (or, say, the night before the wedding), (2) the party seeking to enforce it did not truthfully and completely disclose their financial information, or (3) enforcing the prenup would leave one spouse so destitute that they could not meet their most basic living expenses (i.e., would be forced onto welfare). In short, the prenuptial agreement will be enforced if (1) all the procedural requirements were met at the time it was signed and (2) the terms are not unconscionable, taking into account the circumstances existing at the time of divorce.
Family
Prenuptial Agreement
California
Are prenuptial agreements public record?
My partner and I are considering signing a prenuptial agreement before getting married. I want to keep it confidential and I'm not sure if we have to file this with the state or when we get married and would be publicly available?
Michael M.
Prenuptial Agreements are private agreements between the parties. They are typically not public, however, if the matter goes to court, they can be made part of the public record.
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Prenuptial Agreement
Location: Nevada
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