The Hawaii prenuptial agreement, also called the prenup agreement, is a legal document that outlines the assets and liabilities of each party entering the marriage and regulates their financial relationship during the marriage and after the eventual dissolution of the marriage.
The common belief is that the parties use the prenuptial agreement after marriage only to regulate how they will split the property after a divorce. However, the prenup agreement can also include provisions on how each spouse can manage their marital property during the marriage.
Another misconception is that prenuptial agreements are made only between wealthy spouses. The prenup agreement should be made in any situation where the future spouses have accumulated certain assets before the marriage and want to keep them as individual property, regardless of the value of these assets.
Laws and Legal Requirements for a Prenuptial Agreement in Hawaii
Chapter 572D of the Hawaii Revised Statutes, also called the Uniform Premarital Agreement Act, regulates the status of prenuptial agreement forms in Hawaii.
Section 572D-1 refers to the prenuptial agreement as the premarital agreement, and it defines it as “an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.”
Signing Requirements for a Prenuptial Agreement in Hawaii
Section 572D-2 provides that the prenuptial agreement must be made in writing and that both parties must sign the document.
Although it is not an official requirement of state law, the parties should also consider having the prenuptial agreement notarized. The notary public will confirm the authenticity of the document, which will prevent potential disputes or fraudulent activities in the future.
Prenuptial Agreement Enforcement in Hawaii
The court can decide to declare the prenuptial agreement unenforceable if one of the parties proves that:
Prenuptial Agreement Enforcement Conditions
They did not execute the agreement voluntarily
The other party didn’t fully disclose their financial status before signing the agreement
Additionally, if one of the parties waives their right to spousal support, and that causes the party that waived the right to become eligible for support under a program of public assistance, the court will declare that waiver ineffective.
What Can a Prenuptial Agreement in Hawaii Cover?
The prenuptial agreement template can cover different provisions depending on what aspects of their financial relationship the future spouses want to regulate.
Therefore, they can include:
Provisions in a Prenuptial Agreement
Rights and obligations of each spouse in connection with the marital property, including the right to sell, buy, lease, assign, create a security interest in, mortgage, dispose of, manage, or control the property.
Details on how the property will be divided between the parties in case of separation, marriage dissolution, death, or any similar event.
Regulation of matters connected to spousal support or alimony.
Making of a trust, will, or other similar arrangement with the purpose of carrying out the provisions of the agreement.
Provisions determining the relevant law for the interpretation of the agreement.
Basically, the parties can include any provision that regulates their financial relationship as long as it does not violate public policy or impose a criminal penalty. Additionally, the prenuptial agreement cannot regulate issues like child support or child custody.
Prenuptial Agreement in Hawaii: Validity Criteria
The first validity criteria for the prenuptial agreement form is connected with its signature requirements. Only if the agreement is in writing and has the signatures of both prospective spouses will it be considered valid.
Moreover, Section 572D-4 provides that the prenuptial agreement becomes effective upon the marriage of the parties to each other. That means that the prenuptial agreement won’t produce any effects if the parties that sign it don’t enter the marriage.