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The Indiana prenuptial agreement is a legal document drafted between the two parties entering a marriage.
They use this document to outline all of their assets and liabilities and determine which one of their assets and liabilities is going to be their individual property and which one they will include in the marital property.
Parties don’t only use the prenuptial agreement after marriage; this document can regulate their financial relationship during their marriage as well as set rules on how property shall be divided in the event of marriage dissolution, death of one partner, or any similar situation.
Laws and Legal Requirements for a Prenuptial Agreement in Indiana
Laws and Legal Requirements
Title 31, Article 11, Chapter 3 of the Indiana Code, also called the Uniform Premarital Agreement Act, provides the legal framework for the Indiana prenuptial agreement form.
The Indiana state law refers to the prenuptial agreement as the premarital agreement, and it defines it as an agreement between future spouses that:
1) is executed in contemplation of marriage
2) becomes effective upon marriage
According to Section 31-11-3-7, the parties must sign a written agreement to change or revoke the prenuptial agreement after the marriage.
Signing Requirements for a Prenuptial Agreement in Indiana
The prenuptial agreement must be in writing and have both future spouses' signatures, according to Section 31-11-3-4.
The state law, however, doesn’t require the notarization of a prenuptial agreement form. Regardless, if there is a possibility, parties should always consider notarizing the document since the notary’s acknowledgment will additionally confirm the document’s authenticity and prevent potential disputes between the parties to this agreement.
The prenuptial agreement becomes effective only after the signing parties get married. This means that the prenup agreement won’t produce legal effects if the parties don’t get married after signing the agreement.
Prenuptial Agreement Enforcement in Indiana
Indiana is one of the states that has adopted the Uniform Prenuptial Act. This act provides certain conditions for the enforceability of the prenuptial agreement.
The court will declare the agreement unenforceable if one of the parties proves that:
Prenuptial Agreement Enforcement Conditions
They have signed the document unwillingly
The other party failed to fully disclose their financial status, including their assets and liabilities
If provisions regarding spousal maintenance cause extreme hardship to them
In the case of spousal maintenance, if the enforcement of the prenuptial agreement causes extreme hardship to one of the spouses that was not foreseeable at the time of signing the agreement, the court might declare that part of the agreement unenforceable.
What Can a Prenuptial Agreement in Indiana Cover?
The prenuptial agreement template can cover any provision intended to regulate the financial relationship between two spouses.
The state law has provided some of the most common provisions included in this type of agreement:
Provisions in a Prenuptial Agreement
The rights and obligations of each party in terms of their individual or marital property
Establishment of the right to buy, sell, lease, exchange, transfer, mortgage, and manage the marital property during the marriage.
Rules on how the property will be divided between the spouses in case of a marriage dissolution or separation.
Matters related to marital support or alimony
Rights and obligations of one spouse in terms of the other spouse's life insurance
However, the provisions of the prenuptial agreement template cannot violate state law or public policies or regulate matters related to child support.
Prenuptial Agreement in Indiana: Validity Criteria
The first criterion that can affect the validity of the prenuptial agreement form is connected to the formality requirements. That means that the agreement will be declared invalid if it’s not made in written form and is not signed by both parties.
Moreover, the validity of the prenup agreement is connected to the effectiveness criteria. If one of the parties can demonstrate that Section 31-11-3-8 justifies declaring the document ineffective, the court may declare the entire agreement to be invalid.