Every couple is different, but some Oregon couples may benefit from taking the appropriate steps to protect their interests before marriage. Prenuptial agreements are simple, yet effective, tools that can protect finances and personal property in the event that a couple gets divorced. Prenuptial agreements are often associated with wealthy or high-income individuals, but there may be benefits to couples of any income level.
A prenuptial agreement outlines how marital property will be divided in the event of divorce, but it can also include other factors as well. This document can carefully establish what is separate property and outline the distribution of any retirement and long-term savings, as well as clearly establish any special agreements between the two parties. There is no one-size-fits-all prenuptial agreement, so this legal protection should be tailored to the individual needs and concerns of the two spouses.
In addition to protecting separate property, a prenuptial agreement can outline how shared debt will be divided, eliminating the risk that one party walks away with an disproportionate share of liabilities. This document can also help a couple avoid litigation and costly, lengthy disputes in case they decide to the end the marriage at any point. There are many benefits to this form of legal protection, and any Oregon couple considering marriage would be wise to discuss this option with an experienced attorney.
Discussing the benefits of prenuptial agreements is not planning to divorce before a wedding takes place. Instead, this document serves as a protection of financial interests and personal rights. While a prenup cannot include certain matters, such as child custody visitation, it can certainly provide peace of mind regarding future financial interests.