Summary
In Indiana, marital property is divided equitably, and investments made during the marriage may be considered marital property. Signing a document to release marital rights to a business could limit your rights to future business investments. Self-made contracts can be legally binding if they meet certain requirements, but contracts signed under duress may not be binding. Prenuptial agreements can protect both parties interests but should be understood and agreed upon willingly. Legal aid organizations in Indiana offer free or low-cost services for those who cannot afford a lawyer.Full Conversation
i have been asked to sign a document stating that in event of a divorce, I release marital rights to a business brought into my marrieage by my husband. The problem is, we will most likely invest in a higher ownership someday. is this smart for me?
Hello Mia. This is a significant decision. Here are a few points to consider:
- In Indiana, marital property is divided equitably, not necessarily equally. Investments made during the marriage may be considered marital property.
- This document could limit your rights to future business investments.
- You should consult with a lawyer before signing any legal documents.
This is general advice, not specific to your situation.
I can't afford a lawyer
I understand your concern, Mia. In Indiana, there are legal aid organizations that provide free or low-cost legal services to those who cannot afford a lawyer. You might want to consider reaching out to them for advice on this matter.
is a self made contract legally binding
Yes, a self-made contract can be legally binding in Indiana if it meets certain requirements:
- All parties are competent and understand the terms
- There's an offer, acceptance, and mutual agreement
- The contract is for a legal purpose
- There's consideration, or something of value exchanged.
if i am pressured, is it binding
In Indiana, if a contract is signed under duress, it may not be legally binding. Duress involves coercion or threats that cause someone to act against their will. It's advisable to seek legal help if you feel pressured.
is a prenup a bad thing
A prenuptial agreement isn't inherently bad. It protects both parties' interests and can simplify divorce proceedings. However, it's crucial that both parties fully understand the terms and agree willingly. Consider seeking legal advice to ensure your interests are protected.
thanks
You're welcome, Mia! If you have any more questions in the future, don't hesitate to reach out. Best of luck with your situation.
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