PREMARITAL AGREEMENT
(“Agreement”)
State of Oklahoma
I. DOCUMENT HEADER
1. Parties
This Premarital Agreement (“Agreement”) is made and entered into on [EFFECTIVE DATE] (the “Effective Date”) by and between:
a. [PARTY A FULL LEGAL NAME], residing at [ADDRESS] (“Party A”); and
b. [PARTY B FULL LEGAL NAME], residing at [ADDRESS] (“Party B”).
Party A and Party B are collectively referred to as the “Parties” and individually as a “Party.”
2. Recitals
A. The Parties contemplate legal marriage under the laws of the State of Oklahoma on or about [MARRIAGE DATE] (the “Marriage”).
B. The Parties desire to establish their respective rights and responsibilities regarding Property (as defined below), income, debts, and other matters that may arise during the Marriage, upon separation, divorce, death, or other event.
C. The Parties intend that this Agreement be effective upon solemnization of the Marriage and enforceable in accordance with Oklahoma law, including all statutory requirements for antenuptial contracts.
D. In consideration of the mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows.
TABLE OF CONTENTS
- Document Header
- Definitions
- Operative Provisions
3.1 Status and Effective Date
3.2 Separate Property
3.3 Marital Property
3.4 Management and Control
3.5 Spousal Support Waiver
3.6 Estate Rights; Waivers
3.7 Life Insurance
3.8 Gifts and Transfers Between Parties
3.9 Debts and Liabilities - Representations & Warranties
- Covenants & Restrictions
- Default & Remedies
- Risk Allocation
- Dispute Resolution
- General Provisions
- Execution Block
II. DEFINITIONS
For purposes of this Agreement, capitalized terms have the meanings set forth below. Defined terms appear alphabetically.
“Affiliate” means, with respect to a Party, any entity directly or indirectly controlled by, controlling, or under common control with such Party.
“Arbitrable Matter” has the meaning assigned in Section 8.3.
“Asset Schedule” means the separate schedule attached hereto as Schedule A-1 (Party A) and Schedule A-2 (Party B), listing all Property, income, and liabilities disclosed by each Party.
“Claim” means any claim, action, suit, arbitration, inquiry, or other proceeding arising out of or relating to this Agreement.
“Marital Property” has the meaning assigned in Section 3.3.
“Property” means all real, personal, tangible, and intangible property, including but not limited to cash, securities, retirement accounts, business interests, intellectual property, and choses in action.
“Separate Property” has the meaning assigned in Section 3.2.
III. OPERATIVE PROVISIONS
3.1 Status and Effective Date
This Agreement shall take effect only upon the legal solemnization of the Marriage. If the Marriage does not occur, this Agreement shall be null and void ab initio.
3.2 Separate Property
a. Each Party’s Separate Property consists of:
i. All Property owned by that Party prior to the Marriage, as listed on the corresponding Asset Schedule;
ii. All Property acquired by that Party after the Marriage by gift, devise, bequest, descent, or inheritance;
iii. All income, rents, issues, and profits derived from such Separate Property; and
iv. Proceeds of sale, exchange, or disposition of Separate Property, including any Property acquired with such proceeds.
b. Separate Property shall remain the sole and exclusive property of the owning Party, free from any claim by the other Party.
3.3 Marital Property
Except as otherwise provided herein, any Property acquired jointly in both Parties’ names after the Marriage, or explicitly designated by written instrument as marital or community property, shall constitute “Marital Property” and shall be owned as stated in that instrument or, absent such designation, in equal undivided interests.
3.4 Management and Control
Each Party shall have the unrestricted right to manage, control, encumber, or dispose of his or her Separate Property without consent of the other Party. Marital Property shall be managed jointly, and any transfer or encumbrance thereof requires the written consent of both Parties.
3.5 Spousal Support Waiver
Subject to judicial discretion under Oklahoma law, each Party knowingly and voluntarily waives any right to receive spousal support, maintenance, or alimony from the other Party, except as may be expressly provided in a subsequent written agreement executed after the occurrence of an unforeseen substantial change in circumstances.
[// GUIDANCE: Oklahoma courts may refuse to enforce alimony waivers that are unconscionable at the time of enforcement. Consider including a sunset or modification clause if client circumstances are uncertain.]
3.6 Estate Rights; Waivers
Upon the death of a Party during the Marriage:
a. The surviving Party waives all statutory elective share, intestate succession, homestead, exempt property, and family allowance rights in the deceased Party’s estate, except as otherwise provided by the deceased Party’s testamentary instruments.
b. Each Party may dispose of his or her Separate Property by will, trust, or beneficiary designation without restriction by the other Party, subject to the terms of this Agreement.
c. Any jointly owned Marital Property shall pass according to the form of title or applicable law.
3.7 Life Insurance
Each Party may maintain life insurance policies designating any beneficiary. Neither Party shall have a claim on the proceeds of the other Party’s policies unless expressly designated as a beneficiary.
3.8 Gifts and Transfers Between Parties
Any inter-party gift or transfer shall become the Separate Property of the recipient unless the transferring document states otherwise.
3.9 Debts and Liabilities
a. Each Party shall be solely responsible for debts and liabilities incurred in his or her name alone, whether incurred before or after the Marriage, and shall indemnify the other Party pursuant to Section 7.1.
b. Joint debts expressly undertaken in both Parties’ names shall be shared equally unless the Parties otherwise agree in writing.
IV. REPRESENTATIONS & WARRANTIES
Each Party represents and warrants to the other that:
a. Capacity: He or she has full legal capacity to enter into this Agreement.
b. Voluntariness: This Agreement is entered into freely, voluntarily, and without duress or undue influence.
c. Independent Counsel: Each Party has had the opportunity to consult independent legal counsel of his or her own choosing.
d. Full Disclosure: Prior to execution, each Party provided to the other a fair and reasonable disclosure of that Party’s Property, income, and financial obligations, true and complete to the best of the disclosing Party’s knowledge, as reflected on the Asset Schedules.
e. Accuracy: No material fact has been intentionally or negligently withheld that would render any disclosed information materially misleading.
f. No Conflict: Execution and performance of this Agreement will not violate any court order, contract, or other obligation binding on the Party.
The foregoing representations and warranties shall survive the execution and continued effectiveness of this Agreement.
V. COVENANTS & RESTRICTIONS
5.1 Further Assurances. Each Party shall execute and deliver such documents and take such actions as may be reasonably necessary to effectuate the intent of this Agreement.
5.2 Notice of Change. Each Party shall promptly notify the other of any material change in assets, liabilities, or income that would render the Asset Schedules materially inaccurate.
5.3 Confidentiality. Except as required by law or court order, neither Party shall disclose the terms of this Agreement or the Asset Schedules to any third party other than legal, tax, or financial advisors who are bound by confidentiality obligations.
5.4 Tax Filings. The Parties acknowledge that classification of Property herein does not control federal or state tax treatment. Each Party agrees to cooperate in good faith to minimize tax liabilities consistent with applicable law.
VI. DEFAULT & REMEDIES
6.1 Events of Default. Each of the following constitutes an “Event of Default”:
a. Material breach of any covenant, representation, or warranty herein;
b. Failure to provide updated disclosure as required by Section 5.2;
c. Willful interference with the other Party’s Separate Property.
6.2 Notice and Cure. A non-defaulting Party shall give written notice specifying the alleged default. The defaulting Party shall have thirty (30) days to cure the default where capable of cure.
6.3 Remedies. Upon occurrence of an uncured Event of Default:
a. The non-defaulting Party may seek specific performance, injunctive relief, or declaratory judgment in the designated forum.
b. The defaulting Party shall indemnify the non-defaulting Party for all direct damages, costs, and reasonable attorneys’ fees, subject to the liability cap in Section 7.2.
c. The court may award such other equitable relief as it deems appropriate.
VII. RISK ALLOCATION
7.1 Mutual Indemnification
Each Party (“Indemnitor”) shall defend, indemnify, and hold the other Party and his or her Affiliates harmless from and against any and all Claims, losses, liabilities, damages, or expenses (including reasonable attorneys’ fees) arising out of or relating to:
a. A breach by the Indemnitor of any covenant, representation, or warranty in this Agreement; or
b. The debts, liabilities, or obligations of the Indemnitor described in Section 3.9(a).
7.2 Liability Cap
The aggregate liability of an Indemnitor for all indemnifiable Claims under this Agreement shall not exceed the net fair-market value of that Indemnitor’s Separate Property as of the earlier of (i) the date the Claim arises, or (ii) the date of enforcement.
[// GUIDANCE: Adjust the cap or carve-outs (e.g., fraud, willful misconduct) to align with client objectives and Oklahoma public policy.]
7.3 Force Majeure
Neither Party shall be liable for failure or delay in performance of any obligation (other than payment of money or indemnification) if such failure or delay is caused by events beyond his or her reasonable control, including acts of God, war, terrorism, or governmental action.
VIII. DISPUTE RESOLUTION
8.1 Governing Law
This Agreement shall be governed by and construed in accordance with the domestic relations laws of the State of Oklahoma, without regard to conflict-of-laws principles.
8.2 Forum Selection
Subject to Section 8.3, any judicial proceeding arising under or relating to this Agreement shall be brought exclusively in the District Court of [COUNTY] County, State of Oklahoma, Family Division (the “Family Court”). The Parties irrevocably submit to the personal jurisdiction of such court.
8.3 Limited Arbitration
a. Arbitrable Matters: The Parties agree to submit valuation disputes concerning Marital Property to binding arbitration administered by [ARBITRATION ORGANIZATION] in [CITY], Oklahoma. Child support, child custody, and any matter over which the Family Court has exclusive jurisdiction are expressly non-arbitrable.
b. Procedure: The arbitration shall be conducted by a single arbitrator experienced in family law, under the organization’s expedited rules.
c. Award: The arbitrator’s award may be entered as a judgment in any court of competent jurisdiction, subject to Oklahoma and federal statutes governing arbitration enforcement.
8.4 Jury Waiver
The Parties acknowledge that family-law matters in Oklahoma are tried to the court; accordingly, no jury trial right exists or is waived.
8.5 Injunctive Relief
Nothing herein shall limit either Party’s right to seek specific performance, temporary restraining orders, or preliminary or permanent injunctive relief in the Family Court to enforce this Agreement.
IX. GENERAL PROVISIONS
9.1 Amendment and Waiver. This Agreement may be amended only by a written instrument signed by both Parties and notarized. No waiver of any provision shall be effective unless in writing and signed by the Party against whom enforcement is sought.
9.2 Assignment. The rights and obligations of a Party under this Agreement are personal and may not be assigned or delegated without prior written consent of the other Party, except that either Party may assign rights in respect of insurance or estate planning vehicles.
9.3 Successors and Assigns. This Agreement shall inure to the benefit of, and be binding upon, the Parties and their respective heirs, executors, administrators, personal representatives, and permitted assigns.
9.4 Severability. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force. The court shall modify any invalid provision to reflect the Parties’ original intent to the maximum extent permitted by law.
9.5 Integration. This Agreement, including the Asset Schedules and any written amendments, constitutes the entire understanding of the Parties regarding its subject matter and supersedes all prior or contemporaneous oral or written agreements.
9.6 Counterparts; Electronic Signatures. This Agreement may be executed in one or more counterparts, each of which is deemed an original and all of which together constitute one instrument. Signatures transmitted electronically or by facsimile shall be deemed original signatures for all purposes.
9.7 Headings. Headings are for convenience only and shall not affect interpretation.
9.8 Construction. This Agreement shall not be construed against either Party as drafter. Both Parties had the opportunity to review and negotiate its terms with counsel.
X. EXECUTION BLOCK
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.
| [PARTY A FULL LEGAL NAME] | [PARTY B FULL LEGAL NAME] |
| ____ | ____ |
| Signature | Signature |
| Date: ____ | Date: ____ |
NOTARY ACKNOWLEDGMENT – STATE OF OKLAHOMA
State of Oklahoma )
County of ____) ss.
On this ___ day of __, 20__, before me, the undersigned Notary Public, personally appeared [PARTY A FULL LEGAL NAME] and [PARTY B FULL LEGAL NAME], personally known to me or proved to me on the basis of satisfactory evidence to be the individuals whose names are subscribed to this instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
Notary Public
My Commission Expires: ___
Commission No.: ___
SCHEDULE A-1 – DISCLOSURE OF PARTY A’S ASSETS & LIABILITIES
[Attach detailed balance sheet with estimated fair-market values, income streams, contingent liabilities, and supporting documentation.]
SCHEDULE A-2 – DISCLOSURE OF PARTY B’S ASSETS & LIABILITIES
[Attach detailed balance sheet with estimated fair-market values, income streams, contingent liabilities, and supporting documentation.]
[// GUIDANCE: Attachments should be as comprehensive as practicable to satisfy Oklahoma’s full-disclosure requirement and to guard against future claims of unconscionability.]
END OF DOCUMENT