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

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Postnuptial Agreements Will Soon Become Legal in Ohio

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

Postnuptial AgreementsOhio 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

postnuptial agreements premarital agreement estate planningOhio 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?”