Qualified Premarital Agreements Attorney Serving Portland 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 whomever 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 in 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.