Indiana Premarital Agreement Law

Marriage – Premarital Agreements – Indiana

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Sometimes there are areas of law about which Uniform Acts are written and adopted by the various states. Premarital Agreements is such an area of law.

The NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS adopted the final version of the Uniform Premarital Agreement Act in 1983. Since that date, the act, as modified by the various states, has been adopted in the following states: Arizona, Arkansas, California, Connecticut, Delaware, District of Columbia, Florida, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Oregon, Rhode Island, South Dakota, Texas, Utah and Virginia. At the heart of the act is the provision which provides that such an agreement is generally valid if in writing and sets forth the factors to consider if the agreement is challenged.

Indiana

IC 31-11-3-1 This chapter applies to a premarital agreement executed on or after July 1, 1995.

This chapter applies to a premarital agreement executed on or after July 1, 1995.

IC 31-11-3-2 As used in this chapter, “premarital agreement” means an agreement between prospective spouses that:

As used in this chapter, “premarital agreement” means an agreement between prospective spouses that:

(1) is executed in contemplation of marriage; and
(2) becomes effective upon marriage.

IC 31-11-3-3 As used in this chapter, “property” means an interest, present or future, legal or equitable, vested or contingent, in real and personal property, including income and earnings.

As used in this chapter, “property” means an interest, present or future, legal or equitable, vested or contingent, in real and personal property, including income and earnings.

IC 31-11-3-4 A premarital agreement must be in writing and signed by both parties.

A premarital agreement must be in writing and signed by both parties. The agreement is enforceable without consideration.

IC 31-11-3-5 Parties to a premarital agreement may contract with each other regarding the following matters:

(a) Parties to a premarital agreement may contract with each other regarding the following matters:

(1) The rights and obligations of each of the parties in any property of either or both of them whenever and wherever acquired or located.
(2) The right to:

(A) buy;
(B) sell;
(C) use;
(D) exchange;
(E) abandon;
(F) lease;
(G) consume;
(H) expend;
(I) assign;
(J) create a security interest in;
(K) mortgage;
(L) encumber;
(M) dispose of; or
(N) otherwise manage and control; property.

(3) The disposition of property upon:

(A) legal separation;
(B) dissolution of marriage;
(C) death; or
(D) the occurrence or nonoccurrence of any other event.

(4) The modification or elimination of spousal maintenance.
(5) The making of:

(A) a will;
(B) a trust; or
(C) other arrangement; to carry out the provisions of the agreement.

(6) The ownership rights in and disposition of a death benefit from a life insurance policy.
(7) The choice of law governing the construction of the agreement.
(8) Any other matter not in violation of public policy or a statute imposing a criminal penalty, including the personal rights and obligations of the parties.

(b) A premarital agreement may not adversely affect the right of a child to support.

IC 31-11-3-6 A premarital agreement becomes effective upon marriage.

A premarital agreement becomes effective upon marriage.

IC 31-11-3-7 After marriage, a premarital agreement may be amended or revoked only by a written agreement signed by the parties.

After marriage, a premarital agreement may be amended or revoked only by a written agreement signed by the parties. The amended agreement or the revocation is enforceable without consideration.

IC 31-11-3-8 A premarital agreement is not enforceable if a party against whom enforcement is sought proves that:

(a) A premarital agreement is not enforceable if a party against whom enforcement is sought proves that:

(1) the party did not execute the agreement voluntarily; or
(2) the agreement was unconscionable when the agreement was executed.

(b) If:

(1) a provision of a premarital agreement modifies or eliminates spousal maintenance; and
(2) the modification or elimination causes one (1) party to the agreement extreme hardship under circumstances not reasonably foreseeable at the time of the execution of the agreement; a court, notwithstanding the terms of the agreement, may require the other party to provide spousal maintenance to the extent necessary to avoid extreme hardship.

(c) A court shall decide an issue of unconscionability of a premarital agreement as a matter of law.

IC 31-11-3-9 If a marriage is determined to be void, an agreement that would otherwise have been a premarital agreement is enforceable only to the extent necessary to avoid an inequitable result.

If a marriage is determined to be void, an agreement that would otherwise have been a premarital agreement is enforceable only to the extent necessary to avoid an inequitable result.

IC 31-11-3-10 Any statute of limitations applicable to an action asserting a claim for relief under a premarital agreement is tolled during the marriage of the parties to the agreement.

Any statute of limitations applicable to an action asserting a claim for relief under a premarital agreement is tolled during the marriage of the parties to the agreement. However, equitable defenses limiting the time for enforcement, including laches and estoppel, are available to either party.

Advantages of premarital agreements for both parties:

Avoiding Litigation Costs
Protecting against Fears of Family Members
Protecting Family Assets
Protecting Business Assets
Protection Against Creditors
Child Custody and Support Guidlines
Predetermined Disposition of Property

Disclaimer:
This law summary is not legal advice. If you are not an attorney, you should consult an attorney about serious legal matters.


Inside Indiana Premarital Agreement Law