The Pennsylvania prenuptial agreement is a legal document that provides the framework that regulates the financial relationship between the two parties who are about to get married.
If one or both of the parties have accumulated certain assets or liabilities and want to keep them separate from the marital property that both spouses share, they can use the prenuptial agreement. Furthermore, the parties can use the prenup agreement to determine each spouse's rights and obligations for the property acquired during the marriage.
Finally, the parties can use the prenuptial agreement after marriage to determine how they will share the property acquired during the marriage.
Laws and Legal Requirements for a Prenuptial Agreement in Pennsylvania
The laws and legal requirements for a prenuptial agreement in Pennsylvania are outlined in the precedents established by the Pennsylvania courts and a few provisions of the state law since Pennsylvania hasn’t adopted the Uniform Premarital Agreement Act.
Section 3106 provides the basic legal framework for the prenuptial agreement in Pennsylvania. It uses the term 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 Pennsylvania
The Pennsylvania prenuptial agreement should be made in writing. Moreover, both parties to the Pennsylvania prenuptial agreement should sign the document.
Although this requirement is not set in the state law, the parties should also consider notarizing their agreement if possible. This step will enable the parties to additionally confirm the authenticity of their document and prevent any fraudulent activities. The notary public will sign the document and confirm its authenticity after confirming the identities of the parties.
Prenuptial Agreement Enforcement in Pennsylvania
The provisions of the Pennsylvania prenuptial agreement form must be considered fair for both parties, meaning that they should not disproportionally benefit or damage one of the parties.
Moreover, both parties must sign the document willingly, without coercion or being misled about some of the essential facts about the agreement.
In connection with that, both parties should understand all the legal consequences of signing the prenup agreement. This means that the parties should have enough time to become familiar with all the provisions of the agreement before signing it and consult their legal advisor if needed.
The prenuptial agreement template should also include complete and truthful information about each party's financial status.
What Can a Prenuptial Agreement in Pennsylvania Cover?
The parties to the prenup agreement are free to include any provision in their document as long as it is in line with state law and public policy.
The following are the most typical matters that a prenuptial agreement form can address:
Provisions in a Prenuptial Agreement
The rights and responsibilities of each party in terms of their individual property
The right to sell, buy, lease, mortgage, or manage the property the parties acquire after they get married
Rules on the property division in case of marriage dissolution, separation, death, or any similar event
Matters related to the insurance policy, retirement or pension accounts, spousal support, or alimony
Status of inherited property during the marriage
Choice of relevant law that will regulate the agreement
However, the prenuptial agreement template cannot include provisions that alter the right of a child to support since that matter is in the exclusive jurisdiction of the court.
Prenuptial Agreement in Pennsylvania: Validity Criteria
First, the prenup agreement should fulfill the formality criteria set by the state law to be considered valid. This means that both parties should sign the agreement.
Moreover, the validity of the prenuptial agreement is connected with the existence of marriage. The document will be considered invalid if the parties don’t get married after signing it.