Creating and formalizing a prenuptial agreement can be one of the single most effective things you can do to protect yourself in the event of a divorce. The contract can outline just about anything and delineate which property is marital and separate.
Requirements for a Prenuptial Agreement in Ohio
The first thing both you and your spouse will do is disclose all of your debts and current asset values (this will include any documentation to prove any and all financial statuses).
The state of Ohio requires prenuptial documents to be in writing and in the presence of witnesses when both parties sign the prenup. Both spouses should reach the agreement prior to the marriage, but the contract isn’t effective until the parties are legally married. There are additional requirements for a valid prenuptial and an attorney can advise you of those requirements.
Who Enforces Ohio Prenups?
Generally speaking, a court will recognize a prenup as long as it meets these stipulations:
- each spouse agreed freely
- each spouse fully disclosed their liabilities, assets, and debts
- each spouse fully understands the nature and value of the other’s property
- the terms of the agreement don’t promote divorce
- both parties had an opportunity to consult with an attorney
- the contract was not signed immediately prior to the wedding
Why Hiring a Family Law Attorney May Be a Good Idea
Especially in situations where multiple high-value assets are being combined, a prenup should really be drafted by a professional with experience in the area. A family law attorney will understand the nuances of what goes into these agreements and could even provide additional insight not initially thought of. Having proper representation could ensure a fair and equitable prenup that fairly showcases the interests of both sides.
If you and your spouse are heading towards marriage, take the time to consider a prenuptial agreement. If you are considering a prenuptial agreement, contact Garretson & Holcomb, LLC to draft a prenup that meets your needs. Call (513) 863-6600 to learn more.