Any Oregon parent who has been through the custody process probably knows the process can be complicated and lengthy. If both parents can agree on a custody schedule, a custody agreement can be drafted and entered with the court.
July 11, 2019
Should You Create a Prenuptial Agreement?
Prenuptial agreements help ensure that couples are on the same page about financial matters before they get married. These documents establish guidelines about how the pair will share property, assets and debt during the marriage and divide these items in the event of a divorce.
Creating a prenuptial agreement, commonly called a prenup, is a personal decision for each couple. These are some of the factors you should consider to determine whether you need one.
Wealth and assets
When one or both individuals own significant assets and/or property before the marriage, a prenuptial agreement can ensure that each partner will retain his or her wealth if the union ends. Even if you are not wealthy, you may want to protect a family heirloom or other personal property.
If you are entering a marriage with debt, you can shield your future spouse from the effects of this financial burden with a prenuptial agreement. This situation is common when one or both partners has student loans from medical or law school. Similarly, if you have good credit and your future spouse is struggling with debt, a prenuptial agreement may help protect your FICO rating.
When one or both partners have already been through contentious divorces, they may want to avoid that situation in the future with a prenuptial agreement. If you have children, you can provide for their inheritance with this legal document as well.
As a small business owner, you should protect your company from the impact of a future divorce. This is especially important if you are a sole proprietor and do not have an existing business agreement that establishes ownership rights in a divorce.
Prenuptial agreements cannot include certain provisions. For example, they cannot establish child custody or support for future offspring. If you are already married and did not sign a prenuptial agreement, you and your spouse can create a postnuptial agreement.
Child custody disputes can be difficult to disentangle, and for a number of reasons. One of the biggest is that many of these disagreements are nothing more than he-said, she-said scenarios.
Prenuptial agreements used to have a negative stigma amongst people in Oregon and elsewhere, but this stigma is fading. Now, many couples especially couples with significant assets understand that a prenuptial agreement is simply a good way to protect your interests should your marriage not last.