[DRAFT] PREMARITAL AGREEMENT
(State of Kentucky)
[// GUIDANCE: This template is designed for use by Kentucky-licensed attorneys. Review all bracketed placeholders and tailor to client-specific facts, current Kentucky law, and court procedural requirements before execution.]
TABLE OF CONTENTS
- Document Header
- Definitions
- Operative Provisions
- Representations & Warranties
- Covenants & Restrictions
- Default & Remedies
- Risk Allocation
- Dispute Resolution
- General Provisions
- Execution Block
- Schedules & Exhibits
1. DOCUMENT HEADER
1.1 Title and Parties
PREMARITAL AGREEMENT (this “Agreement”) made and entered into as of [EFFECTIVE DATE] (the “Effective Date”), by and between:
(a) [FULL LEGAL NAME OF PROSPECTIVE SPOUSE #1], residing at [ADDRESS] (“[PARTY A]”); and
(b) [FULL LEGAL NAME OF PROSPECTIVE SPOUSE #2], residing at [ADDRESS] (“[PARTY B]”).
1.2 Recitals
A. The Parties contemplate legal marriage on or about [PLANNED WEDDING DATE] in the Commonwealth of Kentucky.
B. Each Party desires to establish respective rights and obligations regarding property, income, debts, and other matters as set forth herein.
C. Each Party enters into this Agreement voluntarily, after full and fair disclosure of assets, liabilities, and financial circumstances, having had the opportunity to consult independent counsel.
D. In consideration of the mutual promises herein, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows.
2. DEFINITIONS
The following capitalized terms have the meanings set forth below. Undefined capitalized terms shall have their plain English meanings considering the context.
“Affiliate” – Any entity controlling, controlled by, or under common control with a Party.
“Appreciation” – Any increase in value, whether realized or unrealized, of property during the Marriage.
“Debt” – Any obligation for borrowed money, guaranty, or similar liability.
“Disclosure Statement” – The sworn statement of net worth, attached hereto as Schedule A (Party A) and Schedule B (Party B).
“Effective Date” – As defined in Section 1.1.
“Marital Property” – All property characterized as marital under Kentucky law except as re-characterized herein.
“Marriage” – The legal union of the Parties commencing on the date a valid marriage license is filed.
“Separate Property” – Property designated in Section 3.1 as the sole and exclusive property of the owning Party, including all Appreciation thereon unless otherwise provided.
[// GUIDANCE: Add or delete definitions to match client needs.]
3. OPERATIVE PROVISIONS
3.1 Classification of Property
3.1.1 Separate Property. The following shall be and remain the Separate Property of the owning Party:
(a) Property listed in that Party’s Disclosure Statement;
(b) Future inheritances, devises, and gifts in favor of that Party alone;
(c) Proceeds and Appreciation of the foregoing, except as otherwise elected in writing and executed with the same formalities as this Agreement.
3.1.2 Marital Property. All property acquired jointly, titled jointly, or expressly designated in writing as “Marital Property” after the Marriage shall be subject to equitable division consistent with Kentucky family law absent contrary provision herein.
3.2 Management and Control
Each Party retains the unrestricted right to manage, transfer, encumber, or dispose of his or her Separate Property without consent of the other.
3.3 Income and Appreciation
Unless the Parties execute a Joint Election Statement (Schedule C) to the contrary, income and Appreciation arising from Separate Property shall remain Separate Property.
3.4 Debts and Liabilities
Each Party shall be solely responsible for (i) Debts incurred prior to Marriage; and (ii) Debts incurred thereafter that are not jointly undertaken. Joint Debts shall be shared equally unless otherwise agreed in writing.
3.5 Spousal Support Waiver
Except as set forth in Section 6.3 (Temporary Support), each Party irrevocably waives any right to maintenance, alimony, or similar spousal support now or hereafter provided under Kentucky law.
[// GUIDANCE: Kentucky courts scrutinize spousal-support waivers for fairness at enforcement. Counsel should confirm waiver remains conscionable at divorce.]
3.6 Estate Rights
Each Party waives elective share, dower/curtesy, and any statutory right to take against the other’s estate, except as provided by that Party’s last will or revocable trust.
4. REPRESENTATIONS & WARRANTIES
4.1 Capacity and Intent
Each Party represents that:
(a) He or she is over eighteen (18) years of age, legally competent, and not under duress or undue influence;
(b) He or she enters into this Agreement voluntarily with full understanding of its legal effect; and
(c) All disclosures in the Disclosure Statements are complete and materially accurate.
4.2 Legal Counsel
Each Party represents that he or she has had ample opportunity to consult independent legal counsel of his or her choice prior to signing this Agreement.
4.3 Survival
The representations and warranties in this Section survive execution and shall be deemed reaffirmed upon Marriage.
5. COVENANTS & RESTRICTIONS
5.1 Ongoing Disclosure
Each Party covenants to provide updated financial information upon reasonable written request of the other or as required in conjunction with significant financial transactions.
5.2 Tax Cooperation
The Parties shall cooperate in the preparation of joint or separate income tax returns and allocation of tax liabilities/refunds consistent with the property allocations herein.
5.3 Insurance
Each Party covenants to maintain health insurance for the other, at no lesser level than presently maintained, until such time as legally permitted termination (e.g., divorce decree).
6. DEFAULT & REMEDIES
6.1 Events of Default
A “Default” occurs if a Party:
(a) Fails to perform a material obligation under Sections 3 or 5;
(b) Deliberately conceals or misrepresents material financial information; or
(c) Challenges enforceability other than on grounds of unconscionability at execution or enforcement.
6.2 Notice and Cure
The non-defaulting Party shall give written notice specifying the Default. The defaulting Party has thirty (30) days to cure before remedies accrue.
6.3 Remedies
(a) Specific Performance. The non-defaulting Party may seek specific performance in Kentucky family court.
(b) Temporary Support. In event of divorce, a wrongfully defaulting Party forfeits right to contest an interim support order in favor of the non-defaulting Party for up to twelve (12) months, subject to court approval.
(c) Attorneys’ Fees. The prevailing Party in enforcement shall be entitled to reasonable attorneys’ fees and costs.
7. RISK ALLOCATION
7.1 Mutual Indemnification
Each Party (the “Indemnifying Party”) shall indemnify, defend, and hold harmless the other from any Debt or liability: (i) incurred solely by the Indemnifying Party; or (ii) arising from the Indemnifying Party’s breach of this Agreement.
7.2 Liability Cap
The Indemnifying Party’s aggregate liability under Section 7.1 shall not exceed the fair market value of such Party’s Separate Property at the time a final judgment is entered, except for liabilities arising from fraud or intentional misconduct, which shall be uncapped.
7.3 Force Majeure
No Party shall be liable for non-performance caused by events beyond reasonable control, including acts of God, war, or governmental action, provided that financial payment obligations are not excused.
8. DISPUTE RESOLUTION
8.1 Governing Law
This Agreement and any dispute hereunder shall be governed by the domestic relations laws of the Commonwealth of Kentucky without regard to conflict-of-laws principles.
8.2 Forum Selection
Exclusive jurisdiction and venue shall lie in the [COUNTY] Family Court, Commonwealth of Kentucky.
8.3 Limited Arbitration
The Parties may, by written post-dispute submission, refer discrete property-valuation issues to binding arbitration under the rules of the American Arbitration Association. Matters of child custody or support may not be arbitrated.
8.4 Injunctive Relief
Nothing herein limits a Party’s right to seek temporary restraining orders or specific performance from a court of competent jurisdiction.
[// GUIDANCE: Jury trials are unavailable in Kentucky family court; thus, a jury-waiver clause is unnecessary and omitted.]
9. GENERAL PROVISIONS
9.1 Amendments
This Agreement may be amended only by a written instrument signed by both Parties with the same formalities as this Agreement and notarized.
9.2 Waiver
No waiver of any provision shall be effective unless in writing. A waiver on one occasion is not a waiver on any future occasion.
9.3 Assignment
Neither Party may assign or delegate rights or obligations under this Agreement, except by testamentary disposition as permitted herein.
9.4 Severability
If any provision is held invalid or unenforceable, the remainder shall be given full force, and the court may modify the offending provision to reflect the Parties’ intent in a manner enforceable under Kentucky law.
9.5 Entire Agreement
This document, together with the Schedules hereto, constitutes the entire understanding between the Parties and supersedes all prior oral or written agreements concerning its subject matter.
9.6 Counterparts; Electronic Signatures
This Agreement may be executed in multiple counterparts, each of which is deemed an original. Signatures transmitted by facsimile or secure electronic signature service shall be deemed originals.
10. EXECUTION BLOCK
IN WITNESS WHEREOF, the Parties have executed this Premarital Agreement as of the Effective Date.
[PARTY A NAME]
Date: ______
[PARTY B NAME]
Date: ______
STATE OF KENTUCKY )
COUNTY OF __ ) SS:
On this ___ day of ____, 20__, before me, a Notary Public duly commissioned in and for said County and State, personally appeared [PARTY A] and [PARTY B], known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and notarial seal the day and year aforesaid.
Notary Public
My Commission Expires: _
[// GUIDANCE: Add separate notarial certificates if state form changes; consider witness signatures if required by local practice.]
11. SCHEDULES & EXHIBITS
Schedule A – Party A Disclosure Statement
Schedule B – Party B Disclosure Statement
Schedule C – Joint Election Statement (optional)
[Add additional exhibits as needed]
[// GUIDANCE: Attach sworn financial statements, independent counsel acknowledgments, and any waiver forms required under local court rules. Ensure the Parties sign well in advance of the wedding date to minimize duress arguments.]