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Oregon Family Law & Prenuptial Agreements
There's certainly nothing romantic about a prenuptial agreement, but for anyone with considerable assets, it could prove to be invaluable should your marriage run into trouble down the road.
Prenuptial agreements are contracts that allow you and your future spouse to determine what happens to your assets in the event of a divorce, rather than a judge or the laws of your state.
Generally speaking, prenuptial agreements should be considered if:
1. You own or are partner in a business, medical practice, law firm, or professional corporation.
2. You are in a career or business that is, or is likely to be, extremely successful.
3. You have significant assets such as real estate, trust funds, or investment accounts.
4. You have much more money than your fiancé - a good rule of thumb says twice as much.
5. You have children (or grandchildren) from a previous marriage. A prenuptial agreement allows you to control how assets are passed down to your children or grandchildren, rather than your spouse.
6. You will be supporting your spouse while he/she attends school, especially professional or graduate schools.
Each person needs to be represented by a separate attorney (you cannot "share" an attorney). If your fiancé cannot afford an attorney, offer to pay.
Both parties must sign the agreement voluntarily and must fully understand their rights under the agreement. The agreement can be invalidated if either person can prove coercion or undue influence.
The agreement cannot be signed "on the church steps." Hiding accounts, property, or investments could make the agreement invalid.
Unique assets such as real estate, jewelry, antiques, artwork, and collectibles should be appraised by a professional or expert - these values should be used in the agreement rather than your own personal valuations.
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