As couples prepare to tie the knot, they may consider entering into a prenuptial agreement, commonly referred to as a “prenup.” This legal document outlines the financial rights and obligations of each party in the event of a divorce or separation. While prenups were once viewed as a taboo topic, they have become increasingly common in recent years.
In Indiana, prenuptial agreements are governed by the Uniform Premarital Agreement Act (UPAA), which was adopted in 1991. This act outlines the requirements for a valid prenuptial agreement in Indiana and provides guidelines for enforcing the agreement in court.
To be considered valid in Indiana, a prenuptial agreement must be in writing and signed by both parties. It must also be entered into voluntarily, without coercion or duress from either party. In addition, both parties must fully disclose their assets and liabilities before entering into the agreement.
While prenuptial agreements in Indiana can cover a wide range of topics, they typically focus on the division of property and assets in the event of a divorce or separation. This includes real estate, investments, retirement accounts, and personal property such as vehicles or jewelry.
It is important to note that prenuptial agreements cannot override Indiana law in regards to child support or child custody. These issues will be decided by the court based on the best interests of the child, regardless of any provisions outlined in the prenuptial agreement.
In addition, it is important to update your prenuptial agreement in the event of any significant changes to your financial situation, such as a new job or inheritance. It is also important to review the agreement periodically with your spouse to ensure that it still reflects your current wishes.
Overall, prenuptial agreements can provide peace of mind to couples entering into marriage, as they establish clear expectations for financial issues in the event of divorce or separation. If you are considering a prenuptial agreement in Indiana, it is important to seek the advice of a qualified attorney who can help guide you through the process and ensure that your agreement is legally valid and enforceable.