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You can now enter into a Postnuptial Agreement in Ohio!

Client Alert
July 21, 2023

Earlier this year, Ohio was one of just two states (Iowa) that did not permit couples to enter into postnuptial agreements – agreements made between married couples that separate their marital and non-marital property in the event of death or a future divorce. The Ohio Legislature changed this on March 23, 2023, when it passed S.B. 210 legalizing these agreements.

The new law considers that a couple’s financial health and goals often change throughout their marriage and that they should have the option to terminate or update an existing prenuptial agreement, or execute (and later modify if needed) a postnuptial agreement, to reflect these changes. To exercise any one of these options, the following conditions must be satisfied: 1) the agreement is in writing and signed by both spouses; 2) the agreement is entered into freely without fraud, duress, coercion, or overreaching; 3) there was full disclosure, or full knowledge, and understanding of the nature, value, and extent of the property of both spouses; and 4) the terms do not promote or encourage divorce or profiteering by divorce.[1]

Life is unpredictable and the new law affords Ohio couples greater flexibility when planning for their futures, which most likely look very different now than they did before marriage. The law also takes the pressure off engaged couples who are contemplating entering into a prenuptial agreement. Additionally, the ability to enter into a postnuptial agreement lessens the burden of dividing up assets if a couple were to ultimately divorce.

For questions regarding S.B. 210 and your options, please contact Cassandra Manna at clmanna@bmdllc.com or (216) 658-2206.

[1]  S.B. 210, 134th Gen. Assemb., Reg. Sess. (Ohio 2023). 

SB 210Postnuptial Agreement
Client Alert

Your Workplace Under Biden

November 9, 2020This is my favorite recurring post – Predictions of How a New Administration Will Affect Your Workplace. Four years ago, we accurately called the emasculation of the 2016 proposed FLSA Overtime Rules (the salary exemption threshold was set at $35,568 in 2019, rather than $47,476 as proposed), we forecasted a conservative shift of the NLRB and its results (a roll-back of employee rights, social media policy evaluations, and joint employer rules), and we nailed the likelihood of multiple conservative appointments to the United States Supreme Court and its long-term effects (although I completely failed to predict that my ND classmate Amy Coney Barrett would fill the final vacancy during the Trump administration). This time, the L+E Practice of BMD has decided to make it a group effort at predicting what will happen, what probably happen, and what might happen under President Biden. As always, please save this in your important files and pull it out four (or eight) years from now to judge our accuracy.Client Alert

HHS Provider Relief Funds Reporting Requirements: Important Updates Every Provider Should Know

November 4, 2020HHS continues to revise its reporting requirements for the use of the Provider Relief Funds. Providers with more than $10,000 in Provider Relief Fund payments must report on the use of the funds through December 31, 2020. The reporting window will begin on January 15, 2021 and providers must complete reporting obligations for FY 2020 by February 15, 2021 through a portal designed by HHS. However, providers that have unexpended funds as of December 31, 2020, will have an additional 6 months to use the remaining funds through June 30, 2021. These providers must submit a second and final report no later than July 31, 2021.Client Alert

Should I Apply for Phase 3 Funds? Important Considerations Every Provider Should Know

November 2, 2020On October 1, 2020, the Department of Health and Human Services (“HHS”) announced an additional $20 billion in new funding for providers through a Phase 3 distribution. Importantly, providers that previously received HHS Provider Relief Funds or already received payments of approximately 2% of annual revenue from patient care are eligible to apply. Eligible providers have until November 6, 2020 to apply for these Phase 3 Funds. However, the question from providers continues to be: Should I Apply for Phase 3 Funds?Client Alert

CISA Ransomware Practices

October 29, 2020On October 28, 2020, the United States Cybersecurity and Infrastructure Security Agency (CISA) issued an alert warning of imminent threats to US hospitals and healthcare providers. The specific threat involves RYUK Ransomware attacks. RYUK is a novel ransomware that goes undetected by commercial anti-virus/malware detection programs. Once deployed, RYUK encrypts all data and disables systems. In short, it cripples all functionality down to phone systems and automated doors. Healthcare providers should alert their employees to remain hyper-vigilant and report any suspicious activity seen in email or on networks. It has been reported healthcare providers in New York, Pennsylvania and Oregon have been targeted in the last 48 hours. If your organization encounters issues, BMD can assist in mobilizing a response team and has contacts with forensic IT firms that are familiar with RYUK. It is advisable to engage professionals with experience dealing with this specific threat.Client Alert

HHS Announces an Additional $20 Billion In Provider Relief Grants

October 5, 2020The U.S. Department of Health and Human Services (“HHS”) announced an additional $20 billion in new funding for providers on October 1, 2020. Eligible providers include those that have already received Provider Relief Fund payments as well as previously ineligible providers, such as those who began practicing in 2020, and an expanded group of behavioral health providers confronting the emergence of increased mental health and substance use issues exacerbated by the pandemic. The new Phase 3 General Distribution is designed to balance an equitable payment of 2% of annual revenue from patient care for all applicants plus an add-on payment to account for revenue losses and expenses attributable to COVID-19.
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