Prenuptial Agreements
Making agreements about how property should be divided after marriage can help you avoid expensive and confrontational divorce litigation.
You can enter your commitment fully informed up front of what each other’s financial expectations will be going into the marriage or relationship.
What Is A Prenuptial Agreement?
Many couples use a “what’s mine stays mine,” what’s yours stays yours” approach, ensuring they maintain their assets should the union fail. In short, it’s a way to safeguard your belongings and resources when you marry.
While the concept is relatively simple, it often gets much, much more complicated in practice. The content of prenuptial agreements can vary wildly.
In addition to the division of property, some people may even attempt to include provisions for spousal support, custody of minor children, or stipulations regarding things like infidelity. Most of these, however, are not enforceable and will likely be thrown out by the court.
Though this type of contract can be simple, they also differ a great deal and may be tailored to fit your specific needs and requirements.
Are Prenups Always Enforced?
Because the two parties may enter into the arrangement with different levels of bargaining power, the court may decide whether it is valid and enforceable.
In these cases, the burden of proof falls upon the spouse seeking to apply the terms.
First, the court may look at the document to determine whether it is substantively fair and whether it makes reasonable provisions for the party not trying to impose the agreement.
As long as it is not wholly lopsided and skewed to benefit the wealthier individual, it may hold up under scrutiny.
Even if it isn’t substantively fair, prenuptial agreements may be upheld as procedurally fair. In these situations, the court may examine the terms, consider the value of each party’s property, and determine whether both of you entered into the arrangement on an even footing and with full knowledge.
A judge may look to see whether or not the spouse at a disadvantage had enough time to thoroughly contemplate the conditions, negotiate stipulations, or seek legal advice if necessary.
Provisions for spousal support in prenuptial agreements can be enforced. Though if the document isn’t drafted properly, or the terms are dramatically biased, a judge does have the ability to throw them out.
On the other hand, child support and custody provisions are NOT enforceable in Washington.
Couples may seek to head off potential guardianship disputes ahead of time, but ultimately the court is the final authority in these matters and will act in the best interest of the child.
If a prenuptial agreement is reasonable, it’s possible that the final judgment may resemble what was laid down, but that is up to the court.
What if There Is No Agreement?
Do You Need A Prenup?
There are a number of reasons you may want to consider a prenuptial agreement:
- If one party is much wealthier than the other, it can protect preexisting assets.
- If one spouse earns substantially more, this can limit future support payments.
- Does one of you have a significant amount of debt? This can protect you from having to cover your ex’s liability.
- Do you own a business and want to make sure it remains yours? You probably don’t want your former spouse as an unexpected partner.
Goldberg Jones has assisted many clients in reviewing, negotiating, drafting, enforcing, and challenging pre and postnuptial co-habitation agreements.
