Prenuptial Agreements

IN OREGON

A prenuptial agreement clarifies what will happen with a married couple’s finances in the event of a death, divorce or legal separation.

WHAT IS A PRENUPTIAL AGREEMENT?

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A prenuptial agreement is simply a contract between prospective spouses that takes effect when the parties to the agreement get married.

Can a prenuptial agreement help me?

With a premarital agreement, you can be at ease knowing you will be treated fairly in the event of a death, divorce or legal separation.

take preventative action

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A prenuptial agreement is recommended for anyone who wants predictability as to how their debts, assets and income will be treated if the unexpected occurs.

More couples are realizing the benefits a prenuptial agreement can provide, which include:

ADVANTAGES OF A PRENUPTIAL AGREEMENT

STABILITY AND SECURITY

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An agreement can provide stability and a sense of security when couples know sensitive issues have been handled.

DEBT PROTECTION

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An agreement can be used by a spouse with significant debt to protect their partner from assuming that debt.

INHERITANCE

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An agreement can establish the details of a child’s inheritance, or any inheritance that might otherwise be decided by a judge.

What can prenuptial agreements cover?

A prenuptial agreement may cover a wide array of topics, including any of the following:

An agreement can cover division of separate, gifted, premarital or  marital property, as well as the division of debts.

Property division

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An agreement can outline each spouse’s ability to buy, sell or take a loan out on property.

Purchase of property & loans

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An agreement can provide for whether either spouse has a right to the other’s inheritance.

Inheritance rights

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Spousal support 

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An agreement can specify whether support will be awarded and in what amount and duration, as well as whether either spouse will be entitled to benefits from the other’s life insurance policy.

An agreement can provide for the structure of ownership and management of a business.

Businesses

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Child custody and child support issues cannot be included in a prenuptial agreement.

How can I be sure our agreement is binding?

To be valid, a prenuptial agreement must be in writing and signed by both parties.

ENSURING AN AGREEMENT IS VALID

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An agreement also cannot be “unconscionable,” or extremely unfair, and neither party can be tricked into the agreement.

Help ensure your agreement is enforceable by keeping in mind the following:

Binding Agreements

Each party must fully disclose all assets and debt.

Each party should have an Oregon divorce  attorney draft or review it.

Parties should take the time to thoroughly review and understand the agreement.

The agreement should be reasonable and fair.

Unreasonable  prenuptial agreements are the most likely  to be deemed unenforceable by the court.

If you are considering marriage and wish to know more, contact one of our family law attorneys at Gearing, Rackner & McGrath, LLP. 

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Our lawyers can guide you through the process, explain the law, and represent your interests. 

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Call: 503.222.9116

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