Creating a prenuptial agreement will allow you to exit a marriage in the manner of your choosing instead of having to rely on state laws should your relationship come to a divorce.  A prenuptial agreement is an agreement made between two people that dictates any one of a number of things, but most often, a prenup will settle financial matters in the event of a divorce or death. Additional topics can include anything from lifestyle agreements to family arrangements and so forth. 

There are three basic rules that are especially important when it comes to a prenuptial agreement: full and fair disclosure, separate and independent counsel, and ample lead-time before the wedding. Prenuptial agreements are valid in all states. Additionally, 26 of the 50 states, including Hawaii, observe the Uniform Premarital Agreement Act, or UPAA, which is designed to encourage the enforcement of prenuptial agreements.

In Hawaii, there are several general guidelines concerning prenuptial agreements that are good to follow, including the following:

1. Listing all assets, liabilities, income, and expectations of gifts and inheritances

2. The plan to deal with any debt incurred prior the marriage

3. How a couple will handle any appreciations, gains, income, properties, proceeds of sales, businesses, etc.

4. Deciding whether one or both partners will own the marital residence and any secondary homes in the event of death or divorce

5. Specifying the status of gifts, inheritances, and trusts that either partner receives or benefits from either before or after the marriage

6. Laying out the specifics of what will happen to any property owned, including important works of art, expensive jewelry, etc. 

There are certain things to consider when creating a prenuptial agreement in Hawaii. In a prenuptial agreement, a spouse can waive his or her right to alimony even though Hawaiian law allows for alimony in the event of a divorce. The aforementioned Uniform Premarital Agreement Act requires that the prenuptial agreement be put in writing, signed by both parties, and made under the mutual consent of both parties. 

Without a prenuptial agreement, the state may either grant each spouse one-half of the marital assets or divide the assets based on an “equitable distribution.” Any non-traditional or specific allocations that you wish to make should be covered by your prenuptial agreement so as to avoid the standard distributions. 

In Hawaii, divorces are usually granted when a marriage is “irretrievably broken,” if the couple has lived apart from each other under a formal separation arrangement for at least two years, or if the parties have lived apart continuously for at least two years with no reasonable likelihood that they will begin living together again.