317-426-9334             445 N. Pennsylvania St., Indianapolis, IN   46204

Premarital Agreements

 

Central Indiana Attorney Advises Clients Considering Marriage And Prenuptials

 

A  premarital  agreement,  also  known  as  a  prenuptial  agreement,  is  a  contract executed   between   two   parties   who   are   contemplating   marriage.   The consideration  for  the  contract  is  the  promise  to  marry  and  the  agreement  only becomes  effective  upon  the  marriage  of  the  parties.  If  you  are  interested  in creating a premarital agreement or need advice before signing one, Indianapolis Attorney Barbara J. Baird can give you solid advice.

 

Premarital Agreement Basics

A premarital agreement must be in writing and be signed by both parties. It is a binding contract and any revisions or revocation of the agreement must also be made  in  writing  and  signed  by  both  parties.  A  premarital  agreement  usually requires both parties to voluntarily enter into the agreement and fully disclose all assets,  but  Indiana  is  one  of  very  few  states  that  do  not  require  financial disclosure in premarital agreements, although it is still considered good practice to do so.

 

Some of the things that can be contracted in a premarital agreement include:

 

  • Disposition of assets and debts
  • Purchase or sale of property
  • Disposition  of  property  upon  death,  separation,  or  dissolution  of  the marriage
  • Modification or elimination of spousal maintenance
  • Choice of law in regards to the agreement
  • The making of a will or trust
  • Any other matters that do not violate public policy

 

According  to  Indiana  law,  the  terms  of  a  premarital  agreement  may  not adversely affect the right of a child to support.

 

Can Premarital Agreements Be Challenged?

Prenuptial  agreements  typically  favor  one  party  over  the  other  and  are  rarely considered completely fair to both. They can be declared unenforceable if:

 

  • One party was forced or coerced to sign the agreement.
  • The agreement was unconscionable when executed.
  • A  provision  in  the  agreement  modifies  or  eliminates  spousal  support causes an extreme hardship to one of the parties that was not reasonably foreseeable at the time the agreement was made.

 

If  extreme  hardship  exists,  a  court  may  order  one  party  to  provide  spousal support to the other, no matter what the premarital agreement says. Ensure that your interests are protected in a premarital agreement.

 

Call the Law Office of Barbara J. Baird, 317-426-9334

 

 

 

 

© Copyright 2018 Barbara J. Baird   •  Advertising Material

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Barbara J. Baird Attorney at Law

445 N. Pennsylvania St

Indianapolis, IN   46204

317-426-9334

© Copyright 2018 Barbara J. Baird  |  advertising material

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