Why you and your partner should have a prenup
Engaged couples in the Portland metro area should take a fresh look at prenups and how they can be used.
When preparing to spend a life together, couples in the Portland metro area should take the time to review many important issues. Some of these can be immediate, such as, whether to live in the heart of the city, like the Pearl District, or in a suburb, like Wilsonville. Other decisions may involve hypothetical future situations, such as how a potential divorce might be approached or handled.
While it is understandable that many engaged couples are hesitant to have these discussions, it is nonetheless very important. Consider for a moment what could happen without a prenup in place, if a divorce does later ensue.
The power of social media
One spouse, seriously upset and hurt by the breakup of the marriage, logs into a Facebook or other account. While online, he or she makes comments or maybe even puts up a picture of the other person that is anything but positive. Once done, these things can never really be undone. The other person’s reputation has suddenly been tarnished.
When in the stages of planning a wedding, it can be virtually impossible to consider this happening, but it can-and it does. It is for this reason that Fox News notes that prenuptial agreements now frequently address the use of social media during and after a divorce. Special provisions, referred to as social media clauses, can be developed in order to prevent situations like these.
Specific financial penalties can even be assigned if one party violates the terms of the agreement. According to ABC News, even just one disallowed post can result in a $50,000 fine.
Concerns for blended families
People who have been married before and have children or grandchildren from those marriages can find prenuptial agreements highly beneficial. Many estate planning activities or wishes can be outlined in a prenup.This can help family members on both sides of a new marriage to feel secure that their special heirlooms or inheritances will not be jeopardized by a parent’s remarriage. It also helps each spouse to feel confident that his or her post-death preferences will be maintained.
Legal validity matters
One of the most important factors when developing a prenuptial agreement is the legitimacy of the document. Working with an attorney who has experience in this arena is highly advised. Couples in Portland who create a prenup will want to make sure that their prenuptial agreement is valid if and when it’s needed.