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Why you should get your spouse to sign a prenup early

| Dec 17, 2019 | Firm News |

As bad as a prenup may sound, it is one of the tools that helps to protect the financial wellbeing of families. As described in the online magazine HERMONEY, a prenuptial agreement is the heart of a contract signed before marriage. It provides a guideline on how to split the property and financial assets of a couple after a divorce or death of one spouse. 

It is never easy to bring up talks about creating a prenuptial agreement when a couple has never spoken about it. However, raising the conversation earlier than later is the best thing to do. Numerous marriages fall apart due to conflicts in marriage that are mainly due to financial implications. Once a couple gets a prenuptial agreement right, they can avoid letting the state plan how to divide their assets. 

LegalZoom identifies the state of Oregon to be an equitable property state. During a divorce, the state divides all the assets between the spouses fairly and equitably. There are no rules determining how much someone gets. However, there are certain factors a law court considers when allocating the percentage each spouse receives. Depending on these factors, the law will favor one spouse against another. 

A prenuptial agreement overrides the equitable distribution laws of Oregon, allowing a couple to decide what happens to the property if their marriage comes to an end. A spouse may introduce talks about a prenup when speaking to the partner about how they will manage their finances in the future. The conversation should be in a non-confrontational environment since prenups are always a hot topic for many people. 

Once a couple chooses to sign a prenup, they may decide to use separate lawyers to ensure that the agreement they make details of all their interests.