When two people marry each other, they do not just make their relationship official and enjoy living together. Marriage is also about sharing property and personal assets that people hardly ever want to lose. Thus, nowadays, more and more couples prefer to set the rules concerning their economic interrelations before marriage. If they are Oklahoma residents, they can use the Oklahoma Prenuptial Agreement to do so.
A prenup agreement is a legally binding contract that establishes the terms and conditions of property division between spouses, alimony payment, business ownership, financial liabilities, and other related matters. The rights and obligations set forth by the premarital contract are implemented upon divorce or one of the spouses’ death.
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There is a stereotype that only the rich and famous need a prenup template to keep their multiple properties and social status safe. But today, it is a common practice among usual people who want to ensure their rights are preserved regardless of the assets’ amount. Furthermore, the contract protects couples from potential hurtful financial conflicts.
If you and your partner want to avoid such incidents, consider filling out a prenuptial agreement form. You can get the completed form using our smart form-building software. All you need to do is just enter the required personal information and put your signatures where applicable. However, before signing the document, you should familiarize yourself with local rules enforced in your state and contact a family law attorney.
The laws that govern prenuptial agreements and regulate related legal cases vary from state to state. In Oklahoma, the general provisions are presented in the Oklahoma Statutes (Title 43, Chapter 121). If you are a resident of this state willing to complete a prenup, make sure you read the chapter and follow the described guidelines. To make it easier for you, we have emphasized and written down some of its key points below.
According to the designated Chapter, the Oklahoma Prenuptial Agreement Form should be in writing and signed by both parties to become a legally binding document. Note that there is no need for notarization as compared to other states.
The agreement comes into force from the date of marriage commencement. Therefore, partners usually create and complete the form a few months before they start their marital life. If partners never become spouses, the agreement is considered invalid.
To have your agreement accepted by the court for review, remember to take into account the following. First of all, the contract terms should be equally fair to both parties. Second, both partners should engage in the process voluntarily. Third, they should disclose all their financial assets and liabilities so that everyone is aware of each other’s financial state. Last but not least, the agreement should not be conducive to divorce.
Dealing with legal forms on your own can be demanding and challenging. Although it is not obligatory to have an attorney, it is a good practice that helps partners to negotiate the terms of an agreement effectively. It is even better if the partners have different ones to make decisions and act independently.
As we have already stated, a premarital agreement outlines partners’ economic rights and obligations towards each other in their marriage. It is especially needed in case of divorce or one partner’s death. If the spouses do not want the court to decide on their property distribution and similar issues, they should do it together in advance.
Here are the common issues that a standard prenup includes:
Such aspects as child support, custody, and visitation do not appear in prenups. Spouses who have minor children discuss these matters only when it comes to divorce or legal separation. Besides, the court always accounts for the best interest of a child. So, when there are no children yet, partners cannot establish conditions concerning them. However, there is an opportunity for spouses to change the amount of money one would inherit that would affect spouses’ children if they have any.
Property acquired during the marriage is considered marital. In the state of Oklahoma, the court distributes it fairly and equitably, according to each one’s contributions.