(A) The rights of a surviving spouse to an elective share, homestead allowance, and exempt property, or any of them, may be waived, wholly or partially, before or after marriage, by a written contract, agreement, or waiver voluntarily signed by the waiving party after fair and reasonable disclosures to the waiving party of the other party's property and financial obligations have been given in writing.
(B) Unless it provides to the contrary, a waiver of all rights in the property or estate of a present or prospective spouse or a complete property settlement entered into after or in anticipation of separation or divorce is a waiver of all rights to elective share, homestead allowance, and exempt property by each spouse in the property of the other and a disclaimer by each of all benefits which would otherwise pass to him from the other by intestate succession or by virtue of the provisions of a will executed before the waiver or property settlement.
HISTORY: 1986 Act No. 539, Section 1; 2008 Act No. 173, Section 1, eff February 4, 2008, applicable to all waivers executed after that date; 2013 Act No. 100, Section 1, eff January 1, 2014.
Effect of Amendment
The 2008 amendment designated the first sentence as subsection (A) and rewrote it, adding the disclosure requirement; and designated the second sentence as subsection (B).