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Now That Postnuptial Agreements are Legal in Ohio, Might One Make Sense for You?

Want To Create a Postnuptial Agreement? It is now Legal in the Stare of Ohio.

Postnuptial Agreement can be a very Practical Step to Avoid Confusion if a Marriage Should Terminate

Finally Ohio has joined 48 other states and is now permitting postnuptial agreements to be executed and recognized. This is extremely significant news for married couples in Ohio! Click here to read our blog about this law change which we posted here on February 11, 2023.

WHAT ARE POSTNUPTIAL AGREEMENTS?

Generally speaking, a postnuptial agreement is a tool of protection. It can modify or revoke a prior prenuptial agreement or be drawn to control marital finances and assets in the event of divorce or death. Under Ohio law a spouse cannot be disinherited under a will. Ohio law provides what minimum property a spouse must receive absent a prenup or postnuptial agreement.

KEY PURPOSES FOR CREATING A POSTNUPTIAL AGREEMENT

While married couples generally do not want to contemplate the end of their marriage, executing a postnuptial agreement can be a very practical step to avoid confusion in the event a marriage ends for any reason. It can provide certainty as to individual and joint marital wealth which may … Read More... “Now That Postnuptial Agreements are Legal in Ohio, Might One Make Sense for You?”

Postnuptial Agreements Will Soon Become Legal in Ohio

Ohio Law Recognizes Postnuptial Agreements and Treats Them the Same as Prenuptial Agreements

Ohio SB 210 expands a married couple’s ability to enter into agreements with each other to modify their legal relations. By passing SB 210, Ohio law now recognizes postnuptial agreements and treats them the same as prenuptial agreements. Prenuptial agreements are those that are entered into BEFORE marriage, while postnuptial agreements are those that are entered into AFTER marriage. This new law goes into effect the end of March. Click here to read it.

A few of the most notable provisions of Ohio’s new Postnuptial Agreements law enabling spouses to modify their marriage are as follows:

Expands the ability for spouses to enter into agreements that alter legal relations.
Establishes postnuptial agreements and treats them the same as antenuptial (prenuptial) agreements.
Allows spouses to modify antenuptial (prenuptial) and postnuptial agreements.
Establishes requirements for agreements entered between spouses that alter legal relations and provides that agreements that meet these requirements are valid and enforceable, with or without consideration.

Amendment Provides the Division of Property Upon an Agreement to an Immediate Separation

Most notably, under previous Ohio law section 3103.06(A) of the Revised Code, a husband or wife could … Read More... “Postnuptial Agreements Will Soon Become Legal in Ohio”

Postnuptial Agreements in Ohio – What is the Current Status?

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PUBLISHER’S NOTE:

Finally Ohio has joined 48 other states and is now permitting postnuptial agreements to be executed and recognized. This is extremely significant news for married couples in Ohio! Click the following blog articles about this law change. Also, please see our new Postnuptial Agreements help page by clicking here.

Will Ohio Allow Postnuptial Agreements And Amendments To Premarital Agreements? Proposed Changes Underway

Ohio has long recognized premarital agreements. A premarital agreement is a legal contract entered prior to marriage and in contemplation of marriage by two individuals to address the ownership and division of their property and property interests in the event of death or divorce. However, Ohio is in the minority in that Ohio has historically not allowed postnuptial agreements, which are agreements entered into between spouses after they are married. I wrote a blog article on postnuptial agreements on December 31, 2011. Click here to read it.

There are a couple of exceptions to this rule. Ohio Revised Code Section 3103.06 states that a husband and wife cannot, by any contract with … Read More... “Postnuptial Agreements in Ohio – What is the Current Status?”

Postnuptial Agreements — Are they Valid in Ohio?

PUBLISHER’S NOTE:

Finally Ohio has joined 48 other states and is now permitting postnuptial agreements to be executed and recognized. This is extremely significant news for married couples in Ohio! Click the following blog articles about this law change. Also, please see our new Postnuptial Agreements help page by clicking here.

Did not make a Prenuptial Agreement, Are Postnuptial Agreements allowed?

postnuptial agreements in ohio I am often asked whether a couple that never got around to executing an antenuptial (or prenuptial) agreement before they got married can execute a postnuptial agreement after the marriage ceremony. The answer varies greatly from state to state, and it is important to get an answer from an advisor familiar with the laws of the state in which the couple is residing.

Does Ohio Allow Postnuptial AgreementS?

In Ohio, the answer is clearly “no”. This goes back to the concept in Ohio that a husband and wife have a duty to support each other. In furtherance of this notion, Ohio statutory law specifically states that a husband and wife cannot alter their legal relations with each … Read More... “Postnuptial Agreements — Are they Valid in Ohio?”

Negotiating Pre-Nuptial Agreements is Becoming Commonplace for Millennials

pre-nuptial agreements divorce millennials

PUBLISHER’S NOTE: While this blog addresses Pre-nuptial Agreements, the same rational equally applies to millennials executing Post-Nuptial Agreements. On March 23, 2023, Ohio adopted legislation allowing married couples to now negotiate and execute Post-Nuptial Agreements after marriage. The 2 nuptial agreements are very similar. I have posted several articles on the Ohio Family Law Blog about Post-Nuptial agreements since that law was adopted. Use my SEARCH tool above to find them!

With the increase in student loans and previous debts, millennials are looking to ensure that they are not responsible for debts incurred by their spouse should the union dissolve

Baby boomers, and many generations before, used to dream about finding the right one, getting married and living happily ever after, never giving any thoughts about what happens if things didn’t go right. Pre-nuptial agreements were just a thing for movie stars and rich people or stereotypically, men who were financially wealthy and wanted to protect their wealth from a potentially “gold digging” wife. It used to be that pre-nuptial agreements were frowned upon. They seemed to be sending a message that you weren’t serious about the responsibilities of getting married.

However, times have changed. The millennials have … Read More... “Negotiating Pre-Nuptial Agreements is Becoming Commonplace for Millennials”

Financial Considerations Regarding Ohio’s Postnuptial Agreement Law

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Postnuptial Agreements Can Help Protect Financial Interests in Divorce

PUBLISHERS NOTE:

Over the last 40 years I have seen the benefits that collaborating with various professionals from other fields can achieve in my divorce work. My training and experiences are that of a divorce lawyer, so I know that area of law pretty well. However, many times, creating a multidisciplinary “team approach” with therapists, counselors, financial planners, CPAs, and appraisers can make a world of difference for the client!

So, once Ohio passed the law allowing for creating postnuptial agreements, I reached out to today’s guest contributor, Alyssa Miller. She is the Managing Director of Alternative Divorce Solutions in Centerville. Alyssa and her father and business partner, Ben Feldmeyer, have an excellent reputation in the Dayton community for providing a wide range of financial services and support in divorces, estate planning and other business matters throughout Southwest Ohio.

Alyssa and Ben were very excited after we discussed the potential benefits this statute has opened up in Ohio. Alyssa shares below some thoughts from her perspective as a Certified Financial Planner, Certified Divorce Financial Analyst and a Certified Divorce Coach.

Postnuptial Agreements Help in Ohio: Centerville-Based Alternative Divorce Solutions Provides Financial

Antenuptial Agreements, An Effective Estate Planning Tool

Antenuptial agreements, also often referred to as prenuptial agreements, are sometimes derided as taking the romance out of marriage and transforming the event and institution into a business arrangement. Some claim that the use of an antenuptial agreement is an acknowledgement that a marriage is likely to fail. However, an antenuptial agreement addresses not only the possibility of divorce, but also the distribution of premarital assets upon the death of one of the spouses. These agreements can be an excellent tool when there is a significant difference in the ages of the parties or in their respective wealth. In situations in which one or both of the parties has/have previously been married and want(s) to preserve assets for his or her children upon death, an antenuptial agreement may be an essential component of a sound estate plan.

There are several basic elements of a valid antenuptial agreement. The agreement must be entered into in writing and signed by both parties in contemplation of an upcoming marriage. Both participants must be competent and must freely and voluntarily enter into the agreement without coercion or duress by the other party or anyone else. Both parties must be fully aware of all the … Read More... “Antenuptial Agreements, An Effective Estate Planning Tool”

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