Prenuptial and Postnuptial Agreements

Ohio has long recognized the ability of a couple to enter a prenuptial agreement, which is designed to govern a financial outcome if the couple divorces. It may be as simple as specifying the assets that each party owns coming into the marriage so that this premarital property will be awarded to him or her if there is a divorce. Sometimes, a couple desires an outcome where their earnings during a marriage are considered their separate property. And often, people want to determine spousal support.

Prenuptial agreements can also control the assets the spouse will receive at the first party’s death. Ohio laws govern what a spouse is entitled to at death, but a prenuptial agreement can override these.

In 2023, Ohio joined most states in allowing couples to enter into a postnuptial agreement, meaning a contract similar to a prenuptial agreement, even if the parties are already married. A postnuptial agreement can determine matters similar to those addressed in a prenuptial agreement.

Why Consider a Prenuptial Agreement?

Prenuptial agreements serve as a proactive approach to safeguarding your financial interests and providing clarity in the event of marital dissolution. There are several reasons why couples may choose to create a prenuptial agreement, including:

• Asset Protection: A prenup allows you to clearly define separate property and protect assets acquired before the marriage, such as inheritances, businesses, or investments, from being subject to division in the event of divorce.

• Debt Protection: By outlining each spouse's responsibility for pre-existing debts and liabilities, a prenuptial agreement can help shield one party from assuming the other's financial obligations.

• Clarity and Certainty: A prenup provides clarity regarding financial expectations and responsibilities during the marriage and in the event of divorce, helping to minimize conflicts and uncertainty in the future.

• Preservation of Family Wealth: If you have children from a previous marriage or significant family assets, a prenuptial agreement can ensure that these assets are preserved for your heirs and protected from division in the event of divorce.