When you go through divorce, you know that there is a lot on the line. Your choice to end your marriage will impact your financial future, your long-term interests and your post-divorce lifestyle. It’s in your interests to intentionally pursue fair terms to your property division order.
This can be stressful and complicated, especially if there is contention between you and your spouse. Many couples are able to avoid this process altogether by thinking ahead before they even walk down the aisle. Drafting a prenuptial agreement before you marry can ensure that you don’t have to deal with a contentious legal battle over your marital property. Having this type of contract is not assuming that your marriage will fail. It is simply having a plan in place in case of a contingency.
The benefit of preparation
There are many reasons why you will want to think ahead before you get married. It may not seem romantic or even practical, but there are benefits to this for couples of all income levels. With approximately 50% of all marriages ending in divorce, you would be wise to think about what could happen if you are not prepared for this possibility. Some of the reasons you may consider a prenup include the following:
- A prenuptial agreement can allow you to clearly outline what is separate property, which is what you owned before marriage. This can prevent fights over things that are not marital property and therefore not eligible for division in a divorce.
- It will reduce the chance of fights over comingled assets, as well as allow you to outline how you would want to divide marital property in case of a divorce.
- You can specify the individual financial responsibilities that each spouse will have over the course of the marriage. This can prevent fights and allow you to avoid complications.
Every situation is different, and you can tailor the terms of your prenup to fit your needs, goals and objectives for your financial future.
Help with thinking ahead
The terms of your prenuptial agreement are important. It is in your interests to ensure that they make sense and that your contract is enforceable in case of a dispute during a divorce. You may want to speak with an experienced Oregon attorney about your legal options and how planning ahead can benefit you and your spouse — allowing both of you to look to the future with confidence.