It depends on your circumstances and the specific terms of the agreement. While a Portland family law attorney at Helzer & Cromar, LLP would be happy to review the agreement and provide you with honest advice regarding your best options, below are some of the general pros and cons of having a prenuptial agreement in place.
The Pros of Prenups
- Protecting separate property – Going into a marriage, separate property can easily be comingled with or merge into marital property. If there are specific assets or funds, however, that you want to retain as separate property, developing a prenuptial agreement can be key to putting effective protections in place.
- Protecting business interests – If a marriage ends in divorce and one party holds business interests, those interests may be subject to a split when it comes time to divide the marital property. Prenups, however, can reserve business interests as separate property, taking them out of a future marital estate if a divorce occurs.
- Setting financial expectations for the marriage – While prenups can certainly set the terms for a possible split, they can also establish specific financial guidelines for the marriage, such as who is responsible for paying what. Having clear financial expectations from the start of a marriage can help start the union on a positive note.
- Clarifying terms for a potential split in the future – It is important to note here that, while valid prenups can establish terms for how marital property is to be divided and/or how spousal support will be awarded, they cannot dictate the terms of custody and/or child support payments.
The Potential Drawbacks of Prenuptial Agreements
- Upsetting a partner – While prenups can offer a lot of protections, they are not the most romantic topic, and they certainly do have a stigma associated with them. While bringing up the topic of a prenup can be sensitive, having a discussion as to why the prenup is beneficial can mitigate any hurt feelings.
- Not executing a valid prenuptial agreement – And this is most often the result of trying to do-it-yourself or relying on a generic online agreement. The fact is that, if you really want a valid prenup in place that will protect you in the future, working with an experienced attorney is crucial.
Contact a Portland Family Law Attorney at Helzer & Cromar, LLP
Do you need assistance developing a prenup – or advice regarding whether to sign one? Or do you need professional assistance resolving any family legal matter? If so,you can turn to a Portland divorce attorney at Helzer & Cromar, LLP for aggressive, compassionate representation moving forward.
To find out more about our services and how we can help you, call us at (503) 608-7851 or (866) 930-2812 or send us an email via the contact form on this page. The attorneys at Helzer & Cromar provide the highest quality legal services to clients in Portland and Beaverton, as well as throughout the state of Oregon.