An Indiana prenuptial agreement, also known as a “premarital agreement”, is a legal contract between two people who will get married. The agreement outlines how their assets and debts will be managed during and after the marriage.
State law specifies what can and cannot be included in a prenup. The terms of the agreement may include alimony, property division, attorney’s fees, and retirement accounts.
Legal Considerations
Laws:
- 31-11-3-1 – Applicability of chapter
- 31-11-3-2 – “Premarital agreement” defined
- 31-11-3-3 – “Property” defined
- 31-11-3-4 – Agreement must be in writing; consideration not required
- 31-11-3-5 – Content; child support unaffected
- 31-11-3-6 – Effective date
- 31-11-3-7 – Amendment or revocation must be in writing; consideration not required
- 31-11-3-8 – Enforceability of agreement
- 31-11-3-9 – Effect of void marriage
- 31-11-3-10 – Tolling of statute of limitations during marriage; equitable defenses
Signing Requirements: Both spouses’ signatures are required. (§ 31-11-3-4)
Dividing Property: Equitable division. (§ 31-15-7-4)
Enforceability Requirements
Voluntary Execution, Timing and Fairness
The agreement must be executed voluntarily, without coercion or undue pressure, and with full disclosure of each party’s assets and liabilities. This means that both parties should willingly and knowingly enter the agreement without force, fraud, or misrepresentation.
The prenuptial agreement must be signed and finalized before the marriage ceremony to become effective upon marriage. It should be fair for both parties at the time of signing and should not be too one-sided or unreasonable.
Compliance with Public Policy, Law, and Acceptable Issues
The law states that any provisions in a marriage agreement that violate public policy or the law will be unenforceable. Therefore, the agreement must not include any illegal or unethical provisions that contradict the state or country’s laws.
The agreement can address various issues related to the marriage, such as the division of property, spousal support, and others that are legally valid and do not go against public policy.
Child and Spousal Support
Limiting child support through any means in the agreement is not permissible.
Similarly, the agreement must not waive a party’s right to spousal support if the waiver would leave that individual eligible for public assistance or would cause one spouse to suffer extreme financial hardship that was not foreseeable at the time the agreement was signed, as per § 31-11-3-8(b)(2).
