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Read this article and learn how to draft the Idaho prenuptial agreement and separate your individual assets before entering the marriage.
Customized for Idaho This document may be legally binding in Idaho according to your state specific regulations.
The Idaho prenuptial agreement, or prenup agreement, is a legal document parties use to determine their individual and marital property and set the rights and responsibilities of each party towards the marital property.
The parties will first provide a detailed list of all of their assets and liabilities and determine which assets and liabilities are going to be the individual property of the parties. The parties can also establish the proportion in which they will share the assets accumulated during the marriage in the event of a divorce.
Parties don’t only use the prenuptial agreement after marriage. They can use the agreement to include any provisions about their financial relationship during the marriage. This prevents potential disputes between the spouses and protects their interests.
Sections 32-921 to 32-928 of the Idaho Statutes regulate the status and provide a legal framework for the Idaho prenuptial agreement.
Section 32-921 refers to the prenuptial agreement as the premarital agreement, and it defines it as “an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.”
Moreover, property, in terms of the prenuptial agreement interpretation, is defined as “interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings.”
The state law provides that the prenuptial, or prenup agreement, must be made in writing. Additionally, it stipulates that both parties to this agreement should sign the prenuptial agreement.
Although it is not explicitly mentioned in the state law and is therefore not mandatory, the parties should also consider notarizing the prenuptial agreement.
The notary public will additionally confirm the authenticity of the prenuptial agreement by acknowledging that both parties have personally signed the document. This will prevent any potential fraudulent activities in this regard.
There are certain situations where the court can limit the enforceability of the prenuptial agreement.
This can happen if one of the parties to the agreement proves that:
The parties are free to include any provision that regulates their financial relationship during or after the marriage, as long as it is in line with the state law.
Section 32-923 has provided some of the matters that the Idaho prenuptial agreement template can include:
Besides the above-mentioned, parties can include any other provisions in their prenuptial agreement as long as they are not in violation of public policy or a statute imposing a criminal penalty.
Moreover, matters related to child support and custody of children cannot be included in the prenuptial agreement.
The prenuptial agreement will be considered invalid if it is not made in written form and if either of the parties hasn’t signed the document.
Moreover, the validity of the agreement is connected to the existence of the marriage. If the parties haven’t entered the marriage after signing the prenuptial agreement, the document will clearly not be considered valid.
