If you are getting married in Oregon, you may want to consider a prenuptial agreement. A prenuptial agreement, commonly known as a prenup, is a legal document that outlines how assets and debts will be divided in the event of a divorce or the death of one spouse.
While most couples may not want to think about the possibility of divorce or death before getting married, a prenup can provide important protection for both parties. Without one, Oregon law will dictate how assets are divided, which may not align with your wishes.
Here are some things to know about prenuptial agreements in Oregon:
1. Prenups are legally enforceable in Oregon.
Oregon law recognizes prenuptial agreements as binding contracts as long as certain requirements are met. These requirements include full disclosure of all assets and debts, each party having their own legal representation, and the agreement being signed voluntarily and without coercion.
2. Prenups can cover a variety of issues.
Prenuptial agreements can cover a variety of issues related to property and finances. This can include how assets will be divided in the event of a divorce, how debts will be handled, and spousal support. It can also include provisions related to property that was acquired before marriage or any property that is inherited during the marriage.
3. Prenups cannot determine child custody or support.
While a prenuptial agreement can cover many financial issues, it cannot address child custody or support. These issues are determined by the court in accordance with Oregon law and the best interests of the child.
4. Both parties should have their own attorney.
It is important for both parties to have their own attorney when creating a prenuptial agreement. This helps ensure that both parties fully understand the terms of the agreement and that it is fair to both parties.
If you are considering a prenuptial agreement in Oregon, it is important to consult with an experienced family law attorney. They can help guide you through the process and ensure that the agreement is legally enforceable.