When do I need a premarital agreement?
To protect inheritance of children from a prior marriage or ongoing financial interests. Under Ohio law, premarital property, inheritance, and gifts to one party are protected as separate property in divorce. However, the laws of inheritance allow spouses to receive substantial assets when a spouse dies, even if a will says otherwise. Also, if a spouse works in a business they own during the marriage, the spouse is entitled to half the marital value of the business if there is no premarital agreement preventing that.
Do I have to prepare the agreement before marriage?
Yes. Ohio does not recognize post-marital agreements, so the agreement must be signed before the marriage ceremony. To assure validity, the agreement should be negotiated and signed several months before the wedding.
Do I have to disclose all my assets to my fiancé?
Yes. One of the keys to the validity of a premarital agreement is full disclosure of all assets and their accurate values.
For an extensive discussion of premarital agreements, see the Prenuptial Agreements Report.