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Prenuptial Agreements Oklahoma

When entering into a new marriage certain precautions sometimes need to be taken. For instance, if one of the parties is a great deal wealthier than the other a prenuptial agreement may need to be signed. Another situation may be a family heirloom that needs to stay with the original family, so a prenuptial agreement needs to be executed to avoid a stressful situation down the road. Unfortunately, the circumstances surrounding a prenuptial agreement can be very cold and unromantic, however, with the divorce statistics being near 50%, it is now a necessary form of protection. Bitter feelings can arise and resentment can make a divorce even messier when trying to divide assets fairly and equitably.

Privett Law can provide you with assistance and counsel when you are putting together your prenuptial agreement in Oklahoma. Don’t let emotions get in the way of your rational thinking, and let Privett Law handle the less romantic details for you. Contact the firm now for a full consultation.

Prenuptial Agreement Definition

A prenuptial agreement is a written contract created by two people before they are married. A prenuptial agreement typically lists all of the property each person owns and specifies what each person's property rights will be after the marriage.

Do You Need A Prenuptial Agreement in Oklahoma?

You should consider executing a prenuptial agreement if you fall into any of the following categories: 

* You want to protect individual assets such as a home, stocks or retirement savings 
* You are a business owner 
* You are entitled to receive an inheritance in the future 
* You want to protect the rights of your children from a previous marriage 
There is a substantial disparity in wealth between the parties 
There will be forthcoming support requirements for one party
You need to protect the rights of family members who need special care and expenses to cover said care
You are pursuing a license or degree that will lead to a substantial amount of income

Criteria for a Valid Prenuptial Agreement

In order to be valid, an agreement must not be the result of fraud and fall in line with other contractual requirements in Oklahoma. A prenuptial agreement is likely to be invalid on the basis of fraud if one person deliberately misstates his or her financial condition.

Pro’s and Con’s of Prenuptial Agreements

Here are some of the pro’s and con’s of prenuptial agreements, so you can be better prepared as to what to expect. 

Pro’s of a prenuptial agreement:

* Protect your individual property
* Protect your estate plan
* Clearly define property that is considered marital property vs. community property
* Expedite a divorce should one be necessary

Con’s of a prenuptial agreement:

It could create tension between the parties It may not be necessary if Oklahoma laws would otherwise protect your interests without a prenuptial agreement

Other Prenuptial Agreement Topics

Below are other issues that could also be included in a prenuptial agreement in Oklahoma:

* How to handle a separate business
* Estate planning issues, such as providing for children from prior marriages or leaving family property
Separate vs. joint property
Non-responsibility for the other person's debts
Procedures for filing tax returns, including allocating income and deductions
Who pays household bills -- and how

Do I Need a Lawyer?

Here at Privett Law I can help make your life a little easier. Contact me now for a full consultation regarding your prenuptial agreement. I am here to help keep the romance in your marriage.