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.
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:
According to Indiana law, the terms of a premarital agreement may not adversely affect the right of a child to support.
Prenuptial agreements typically favor one party over the other and are rarely considered completely fair to both. They can be declared unenforceable if:
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
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