Prenuptial & Postnuptial Agreements
Protecting Your Assets in Portland, OR
When you consider that about half of all marriages in the United States end in divorce and that people are getting remarried or are marrying later in life after they have already acquired assets, it is easy to see why a prenuptial or postnuptial agreement may be beneficial. Such an agreement can act as an insurance policy, outlining what will happen with property and assets in the event of a separation or divorce.
Levine Law Center can help if you are interested in drafting a prenuptial agreement or postnuptial agreement, or if such an agreement has been presented to you by your fiancé or spouse. Our Portland prenuptial agreement attorneys understand the importance of a clear and legally sound agreement and can use our family law and divorce experience to make sure your interests are fully protected.
What Is a Prenuptial Agreement?
A prenuptial agreement, or prenup, is essentially a written contract between two people who are getting married. In the past, prenuptial agreements were rare and were often only used by the wealthy. Today, more people are seeing the benefit that a prenuptial agreement can provide, particularly when remarrying or marrying after they have purchased a home or acquired other assets.
A prenuptial agreement will typically list:
- All property/assets owned by each party;
- All debt currently owed by each party; and
- What will happen to such property and debt if the marriage should end.
A postnuptial agreement is similar to a prenuptial agreement, but it is entered into after marriage.
Benefits of a Prenuptial or Postnuptial Agreement
A prenuptial or postnuptial agreement may provide various benefits for you and your family, such as:
- Allowing you to pass your separate property to your child or children from a prior marriage;
- Clarifying your rights from a financial perspective;
- Protecting yourself from your spouse’s debt; and
- Avoiding unnecessary arguments in case of divorce or separation.