Prenuptial Agreements

With the increase of blended families and the current divorce rate, it is important to protect your assets with regard to marital rights. Prenuptial agreements are entered into by spouses prior to marriage, but in contemplation thereof, and are a great way to help you and your spouse have a discussion about finances and future plans.

The attorneys of Phyllis G. Bossin & Associates, A Legal Professional Association, are experienced in drafting complete and complex prenuptial agreements for individuals in Hamilton and the surrounding Ohio counties and northern Kentucky.

Prenuptial, or premarital, agreements are recognized in Ohio and Kentucky, and public policy allows the enforcement of them. In fact, the overwhelming majority of prenuptial agreements are upheld in Ohio and Kentucky when litigated; only on rare occasions have prenuptial agreements been struck down in their entirety by Ohio or Kentucky courts.

A prenuptial agreement must be in writing and signed by both parties. For the agreement to be enforceable, it must be entered into freely without fraud, duress, coercion or overreaching. There must be a full disclosure of assets by both parties, and a full knowledge and understanding of the nature, value, and extent of the prospective spouse's property. The terms cannot promote divorce or profiteering by divorce.

Both parties to a premarital agreement must have a meaningful opportunity to consult with counsel. In order to protect yourself from litigation later, it would be wise to ensure that each party has a separate lawyer.

The prenuptial agreement can address issues related to both the death of one of the parties or divorce. The divorce provisions may address property division, debts and spousal support. The parties may also provide in the prenuptial agreement the manner in which they will handle their finances during the marriage. Custody and child support issues cannot be determined in a prenuptial agreement.

There are many reasons why people would enter into a premarital agreement. Frequently, both parties entering into their second marriages will want a prenuptial agreement, oftentimes to protect the interests of their children from the first marriage. Additionally, a prenuptial agreement is a way to protect separate property that each spouse is bringing into the marriage. Prenuptial agreements are also used when there is a large disparity in the financial status of the parties. The agreement can protect the person with few assets by ensuring they are not left with nothing, and the person with substantial assets by protecting those assets.

To learn more or to set up a consultation, contact our Cincinnati office at 513-421-4420 or use our online contact form.