Qualified Premarital Agreements Attorney Serving Portland, Hillsboro, & Lake Oswego Clients
Premarital agreements, also referred to as prenuptial agreements, protect individual assets in the event that a marriage doesn’t work out. Though premarital agreements used to carry a significant amount of stigma, most people these days realize they are a common form of wealth protection that simply makes sense. Requesting or signing a premarital agreement does not indicate you don’t believe the marriage will last, it just makes things easier if something unforeseen occurs.
What Exactly is a Premarital Agreement?
A premarital agreement is just what it sounds like, a contract that both spouses willingly enter into before their wedding takes place. It only goes into effect if the couple does indeed marry. Every premarital agreement can be unique, yet most contain clauses for the following:
- Property ownership: Do both spouses get to claim ownership of all property, or just the one who brought it into the marriage, etc.?
- Monetary assets: Will the balance of bank accounts be split in half, divided by a percentage ownership, or go to whoever earned the income?
- Custody: If you have children, will both parents get custody, or just one?
- Spousal support: Will one spouse be required to support the other in the event of divorce?
- Property rights: Do both spouses have the right to sell, exchange, or buy property?
- Death benefits
Again, these are just a sampling of things that might be covered by a premarital agreement. Each couple has the freedom to include whichever clauses they want.
Getting Legal Representation
Whether you are drafting a premarital agreement, being asked to sign one, or creating one together as a couple, it is always wise to get the help of an experienced family law attorney. We can advise you as to how each clause might play out and outline any plausible complications.