Premarital Agreements in Ohio
Nationwide, people are getting married for the first time at an older age. Typically, this means that the bride and groom have steady income, retirement accounts, vehicles, homes, bank accounts and other assets worth protecting. While finances are not the most romantic topic to discuss prior to your marriage, talking finances with your spouse-to-be, long before you walk down the aisle, will actually help bring to light issues that could arise in the future. A prenuptial agreement (also called a premarital agreement) is a written document which protects the property each spouse brings to the marriage, and also spells out how property acquired or income earned during the marriage will be divided if the marriage ends by divorce or dissolution. Prenuptial agreements can cover a variety of issues and are generally enforceable in the same manner as any other contract. The exception, however, is that courts are not likely to enforce agreements where there is not a full or truthful disclosure of assets, if there is fraud or misrepresentation, undue influence, duress, or terms of the agreement are contrary to law or against public policy. A prenuptial agreement should always be prepared and presented to the other spouse long before the wedding date so that each party has the opportunity to discuss the terms with his or her own legal counsel. Most importantly, Ohio law does not recognize post-nuptial agreements (agreements signed after the marriage), so do not wait until after the honeymoon to have this discussion.