Relationship Agreements

Premarital Agreements—also called Prenuptial Agreements or Prenups—are agreements decided upon prior to the actual marriage. Essentially, it serves as a financial contract between both spouses in order to establish certain rules about how assets or debts get divided should the marriage dissolve, as well as issues related to support. A prenuptial agreement also helps to protect each spouse from their partner’s debts and liabilities that may have been incurred prior to the marriage or solely by a spouse during the marriage. These agreements can also help protect family heirlooms and inheritance, may be used in conjunction with asset protection plans, and estate planning documents, and can define what will and will not be divided should the couple ever divorce or upon the death of one or both spouses.
 
Oregon’s Uniform Premarital Act helps to simplify the process of a prenup agreement, protecting both parties involved, and helps couples understand their own financial rights when they become married. However, because of the varying possibilities that may occur at the time of a divorce and the growth in assets that may occur during the marriage, it is very important that couples not use a standardized form when completing their prenuptial agreements and seek the advice of counsel before signing anything.

A domestic partnership agreement serves much the same function as a premarital agreement, but is used by parties who intend not to marry, or who intend to register a domestic partnership (civil union) with the state. Just like a prenup, a domestic partnership agreement allows a couple to keep finances and debts separate, and protect themselves in case the domestic partnership is dissolved in the future, or upon the death of one of them. Learn more about domestic partnerships here. 

Post-marital agreements cover the same issues as premarital agreements, but are negotiated and signed after the parties have married. Post-marital agreements (also known as postnuptial or postnup) have grown in popularity as couples utilize this tool to provide predictability in the handling of inheritances or gifts received during a marriage, or in the allocation of their business interests. Sometimes, the parties have endured a period of marital discord but have reconciled and wish to formalize any new understanding about financial issues they have reached.
 
The courts have not squarely addressed the enforceability of postnup agreements in Oregon, so skilled legal representation is essential. In Washington, all post-marital agreements are clearly enforceable. Even when two people love each other and get married, they still need to protect their assets and finances, taking steps to ensure stability in the relationship and security should that relationship end.