Do you have to list all assets in a prenup?

Generally speaking, separate property belongs to the spouse that acquired it. Before entering into a prenup, you'll want to make an exhaustive list of all assets and debts you own; both spouses must make full and fair disclosures to the other about all of their assets and debts.

How do you draft a premarital agreement?

Guidelines for drafting a successful prenuptial agreementSeparate lawyers. Both partners need access to all relevant information when they are discussing the agreement's terms.Keep it simple. Don't attempt to write the agreement yourself.Be fair.Professional degrees.Personal banking.The final document.

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Oregon Prenuptial Agreement Form Download
Oregon Prenuptial Premarital Agreement without Financial Statements

Prenuptial Agreement With Accrual

Q: Can I write a prenup myself?

Sure you COULD, but no you SHOULDN&#039;T. It will be nearly impossible to uphold in court a prenup that you wrote yourself. Both of you should have counsel and there should be full and complete financial disclosure between the two of you.

Category:

Family Law - Marriage - Property Agreements - Prenuptial Premarital

State:

Oregon

Control #:

OR-00590-B

Format:

Instant download

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Description

This form package contains a premarital agreement for your state. The agreement can be used by persons who have been previously married, or by persons who have never been married. It includes provisions regarding the contemplated marriage, assets and debts disclosure and property rights after the marriage. The agreement describes the rights, duties and obligations of prospective parties during and upon termination of marriage through death or divorce. These contracts are often used by individuals who want to ensure the proper and organized disposition of their assets in the event of death or divorce. Among the benefits that prenuptial agreements provide are avoidance of costly litigation, protection of family and/or business assets, protection against creditors and assurance that the marital property will be disposed of properly.

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FAQ

Sure you COULD, but no you SHOULDN'T. It will be nearly impossible to uphold in court a prenup that you wrote yourself. Both of you should have counsel and there should be full and complete financial disclosure between the two of you.

The agreement was procured by fraud a prenup is valid only if it is entered into after full disclosure by both parties as to their income, assets, and liabilities. If one spouse provides the other with information that is not accurate or truthful, the agreement is invalid.

Generally speaking, separate property belongs to the spouse that acquired it. Before entering into a prenup, you'll want to make an exhaustive list of all assets and debts you own; both spouses must make full and fair disclosures to the other about all of their assets and debts.

Guidelines for drafting a successful prenuptial agreementSeparate lawyers. Both partners need access to all relevant information when they are discussing the agreement's terms.Keep it simple. Don't attempt to write the agreement yourself.Be fair.Professional degrees.Personal banking.The final document.

A prenuptial agreement cannot include personal preferences, such as who has what chores, whose name to use, where to spend the holidays, information on child-rearing, or what relationship to have with specific relatives. Premarital agreements are meant to address monetary issues.

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Oregon Prenuptial Premarital Agreement without Financial Statements

Sometimes there are areas of law about which Uniform Acts are written and adopted by the various states. Premarital Agreements is such as area of law. The NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS adopted the final version of the Uniform Premarital Agreement Act in 1983. Since that date, the act, as modified by the various states, has been adopted in the following states: Arizona, Arkansas, California, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Oregon, Rhode Island, South Dakota, Texas, Utah and Virginia. At the heart of the act is the provision which provides that such an agreement is generally valid if in writing and sets forth the factors to consider if the agreement is challenged.

Oregon Statutes

Definitions for ORS 108.700 to 108.740:

As used in ORS 108.700 to 108.740:

(1) "Premarital agreement" means an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.

(2) "Property" means an interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings. [1987 c.715 Â§ 1]108.700

Agreement to be in writing; consideration not required:

A premarital agreement must be in writing and signed by both parties. It is enforceable without consideration. [1987 c.715 Â§ 2]108.705

Subjects of agreement; child support not to be adversely affected:

(1) Parties to a premarital agreement may contract with respect to:

(a) The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;

(b) The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of or otherwise manage and control property;

(c) The disposition of property upon separation, marital dissolution, death or the occurrence or nonoccurrence of any other event;

(d) The modification or elimination of spousal support;

(e) The making of a will, trust or other arrangement to carry out the provisions of the agreement;

(f) The ownership rights in and disposition of the death benefit from a life insurance policy;

(g) The choice of law governing the construction of the agreement; and

(h) Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.

(2) The right of a child to support may not be adversely affected by a premarital agreement. [1987 c.715 Â§ 3]108.710

Agreement effective upon marriage:

A premarital agreement becomes effective upon marriage. [1987 c.715 Â§ 4]108.715

Modification of agreement; consideration not required:

After marriage, a premarital agreement may be amended or revoked only by a written agreement signed by the parties. The amended agreement or the revocation is enforceable without consideration. [1987 c.715 Â§ 5]108.720

Party may prove agreement unenforceable; when court may require support; determination of unconscionability:

(1) A premarital agreement is not enforceable if the party against whom enforcement is sought proves that:

(a) That party did not execute the agreement voluntarily; or

(b) The agreement was unconscionable when it was executed and, before execution of the agreement, that party:

(A) Was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;

(B) Did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided; and

(C) Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.

(2) If a provision of a premarital agreement modifies or eliminates spousal support and that modification or elimination causes one party to the agreement to be eligible for support under a program of public assistance at the time of separation or marital dissolution, a court, notwithstanding the terms of the agreement, may require the other party to provide support to the extent necessary to avoid that eligibility.

(3) An issue of whether a premarital agreement is unconscionable shall be decided by the court as a matter of law. [1987 c.715 Â§ 6]108.725

Effect of void marriage:

If a marriage is determined to be void, an agreement that would otherwise have been a premarital agreement is enforceable only to the extent necessary to avoid an inequitable result. [1987 c.715 Â§ 7]108.730

Statute of limitations; defenses:

Any statute of limitations applicable to an action asserting a claim for relief under a premarital agreement is tolled during the marriage of the parties to the agreement. However, equitable defenses limiting the time for enforcement, including laches and estoppel, are available to either party. [1987 c.715 Â§ 8]108.735

Citation; construction; severability:

(1) ORS 108.700 to 108.740 may be cited as the Uniform Premarital Agreement Act.

(2) ORS 108.700 to 108.740 shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this Act among states enacting it.

(3) If any provision of ORS 108.700 to 108.740 or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of ORS 108.700 to 108.740 which can be given effect without the invalid provision or application, and to this end the provisions of ORS 108.700 to 108.740 are severable. [1987 c.715 Â§ 9]08.740

Advantages of premarital agreements for both parties:

Avoiding Litigation Costs

Protecting against Fears of Family Members

Protecting Family Assets

Protecting Business Assets

Protection Against Creditors

Child Custody and Support Guidelines

Predetermined Disposition of Property

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Disclaimer: This law summary is not legal advice. If you are not an attorney, you should consult an attorney about serious legal matters.