A prenuptial agreement is a private contract between two individuals planning to marry.
To see if your unique family situation would benefit from this contract, see our prenuptial & postnuptial agreements lawyer in Seattle.
Prenuptial Agreements Explained
Topping the list of tough topics couples should discuss before tying the knot is finances. Discussing financial goals and perspectives can help a marriage run more smoothly. It can also help avoid lengthy, contentious conflicts should the couple divorce.
A prenuptial agreement is a contract recognizing the assets each party brings to a marriage. It can address how these assets, and others potentially acquired during the marriage, will be handled in the event of divorce. The contract can do the same for debts. It can also establish plans for managing household expenses.
Prenuptial agreements, sometimes referred to as “prenups,” can address more than just financial issues. A couple may include confidentiality clauses requiring the parties to keep details of the marriage or divorce private. They can even establish which spouse gets ownership of a pet when the marriage ends.
Why Getting a Prenuptial Agreement Is a Smart Move
Prenups come with an element of stigma. Some argue that a couple who needs a prenup shouldn’t get married in the first place. Others might say they don’t need a prenuptial agreement because they don’t have any assets or debts. While these perspectives are understandable, they are not necessarily wise.
A prenuptial agreement is similar to insurance. People don’t buy cars planning to have an accident. They buy insurance to protect themselves and others in the event of an accident (and because Washington State requires it). While the State does not require prenups, couples can opt to enter one and protect themselves from financial hardship if their marriage crashes.
Parties may enter a marriage without assets or debt. A prenuptial agreement can account for anticipated assets. As couples work, one or both parties may develop a healthy retirement fund, a 401(k) or pension, or both. One party may receive an inheritance. The couple could purchase a home. A prenup can create plans for dividing these anticipated assets should the need arise.
A Prenuptial Agreement Provides Control Over Property Division
The RCW 26.09.080 states that during a divorce, division of property and debt is done without consideration of marital misconduct, and shall be “just and equitable.” The court considers several factors, including the “nature and extent” of both separate and community property, the length of the marriage, and the economic circumstances of each party.
“Separate” property refers to each party’s pre-marriage assets or those acquired during the marriage through inheritance or gifts. Assets acquired during the marriage are community property. A prenuptial agreement allows couples some control over the classification and division of their properties and avoids long court battles.
Couples can specify what property obtained during the marriage classifies as “separate.” The agreement can allow for separate business ventures or investments, for example.
The same principle applies to classifying debt. If one spouse plans to pursue an expensive degree, the prenup can help the other spouse avoid the related debt.
Issues That Cannot Be Settled in Washington Prenups
There are limits to what a prenuptial agreement can settle. Couples cannot expect the court to honor clauses addressing child support, custody, or visitation rights. Some prenups included “infidelity clauses” to impose fines on or deny property to a cheating spouse.
Washington is a no-fault divorce state. The court does not judge the behaviors of the spouses when granting divorces. It recognizes “irreconcilable differences” as a legitimate cause for divorce, per RCW 26.09.020. Therefore, prenup infidelity clauses are likely unenforceable in Washington.
How to Create a Valid, Enforceable Prenuptial Agreement
To ensure your prenuptial agreement is valid and enforceable, you and your partner should each have your own representation. The State is less likely to honor a prenup if one spouse acted without an attorney.
It also helps to have the agreement signed well before the wedding takes place. This timing shows both parties had ample time to think through the specifics.
You and your partner must take care to disclose all assets and debts before signing. Leaving information out can render the agreement unenforceable. Putting pressure on a party to sign the agreement or forcing them to sign under duress also invalidates a prenup.
Use clear, precise language that aligns with Washington law when writing the agreement. Maintain documentation of negotiations and drafts. As with any contract, your prenup should be documented and signed by both parties in the presence of a notary public.
How an Attorney Can Help
A lawyer’s participation adds credibility and validity to your prenup in the eyes of the court. It also protects you from making mistakes. Our attorneys have over 180 years of combined experience, and that experience informs every case we take. You may not have a full grasp of Washington’s laws. We do. You might not anticipate how finances can change as a marriage progresses. We can.
If you have already married and don’t have a prenup in place, there is still a way to secure your future. We can explain how to get a prenuptial or postnuptial agreement.
A postnuptial agreement provides the same protections from financial crisis as a prenup, but is just developed and signed after the wedding takes place.
Hopefully, your marriage will last, and you will never need your pre- or postnuptial agreement. Still, it is much better to have one and not need it than to need one and not have it.
We’re Here to Help You Protect Yourself
Dellino Family Law can explain what a prenuptial agreement is and work with you to develop this important contract.
A prenuptial agreement provides critical protection, and when you work with us, you’ll see that the process for developing one doesn’t have to be uncomfortable. We’re here to help you protect yourself and walk into the next phase of your life with confidence.
