Setting The Right Financial Tone For Your Partnership
Prenuptial agreements have traditionally been the domain of wealthy individuals marrying for the first time or perhaps remarrying after starting a family during a previous marriage. In the era of two-income families and partnerships as well as families with well-structured estate plans, it is much more common today to enter into marriage or domestic partnership with a legal document in place that details ownership and obligation of each spouse.
I regularly work with a team of financial experts here in Portland at Priscilla Seaborg, Attorney at Law. We can draw up an inclusive prenuptial agreement that protects the rights of both parties and is enforceable in a court of law if there is divorce or dissolution. I also understand that financial discussions are difficult for many of us, so it can also be helpful to have someone involved who understands finances and can discuss them in a way that is unencumbered by personal emotions.
What A Prenup Can Do
A prenuptial agreement can be as unique as the couple who draws it up. It can include anything, but the following are commonly addressed issues:
- Protect each party’s assets such as money, retirement accounts or a family business
- Protect an individual from a future spouse’s previously amassed financial obligation
- Clarify financial responsibility and rights of each party
- Determine how assets will be dispersed upon death
- Provide peace of mind for individuals, their families and their business associates
Prenuptial agreements are like any other important legal documents in that a lawyer should review yours before you sign it. I can draw up a prenuptial agreement for my client or review those drawn up by another attorney, either before the marriage or partnership or at any point during it. No agreement is ironbound, and the courts can consider certain circumstances, so contact me today if you have any concerns.