Marital life is always closely tied to financial issues. Since spouses usually live together and share their personal property, build new wealth together, and engage in different kinds of transactions, it may be hard to distinguish what belongs to whom. In case of divorce or a spouse’s death, everything can turn into bitter conflicts and long-lasting paperwork. Fortunately, there is an excellent way to avoid such challenges using the Oregon Prenuptial Agreement.
Before getting married, partners can sign a prenup agreement template. This contract regulates the spouses’ economic relations and contains the terms they have agreed upon together. The terms usually concern property division and alimony payment processes, inheritance, business ownership, and so on.
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The Prenuptial Agreement formalizes the parties’ rights and obligations towards each other, thus protecting their economic and financial interests. Both partners need to sign it after carefully checking all contract sections with a professional attorney’s help to make it legally binding.
To get the form ready for signing, we suggest using our smart form-building software to easily and quickly construct the prenup. Just enter the required information where needed and append your signature at the end of the form.
The laws that regulate the completion of premarital agreements and related requirements are specific for each US state. As for the state of Oregon, you can find all the definitions and guidelines in the Oregon Revised Statutes (Title 11, Chapter 108).
To make the whole process of filling out the agreement easier for couples, we have put together the main points explained below. Please keep reading to familiarize yourself with them. But remember that learning the original rules is also essential for the proper understanding of the prenuptial agreement’s nature and related legal procedures.
Unlike in some other states, both parties should put their signatures on the document to make it legally binding in Oregon. Notarization is not obligatory, but it is recommended. You should also hire an attorney to help you and your partner negotiate the terms of the agreement effectively and avoid potential conflicts.
A prenuptial agreement comes into force starting from the date of the marriage. Partners gather and complete the form a few months before they start their married life. If partners never become spouses, the agreement does not become valid.
Since Oregon is one of the states that follow the requirements of the Uniform Prenuptial Agreement Act (UPAA), some factors that make the contract enforceable are as follows:
The court may refuse to approve the premarital agreement if the partners enter a void marriage. For example, it happens when they are close relatives to each other, or one of them is underage, or one already has another spouse.
Prenuptial agreement is needed to regulate different situations concerning financial and property issues in the future. The most common causes are:
The established terms regarding these situations may change whenever the spouses want, or the judge decides so. For instance, the court may cancel spousal support for the spouse who cannot cover such payments and make the other spouse pay. If partners want to eliminate or increase the amount of inheritance, they can make adjustments as well.
Property that spouses acquired in the marriage is considered marital. In the state of Oregon, the court distributes it fairly and equitably among them, according to each partner’s contributions.