What Is an Oregon Prenuptial Agreement?
A prenuptial agreement outlines how you and your future spouse prefer to divide assets and liabilities if the marriage ends in divorce, separation, or death. It enables you to make informed decisions on potentially contentious issues such as property ownership and future spousal support.
Without a valid prenuptial agreement, Oregon courts follow the equitable distribution standard under Oregon Revised Statutes Section 107.105(1)(f). The standard allows courts to divide property and assign spousal support based on several factors, including marriage duration and the financial needs of both parties. The results may not always align with your expectations. Creating a prenuptial agreement can help avoid an unwanted outcome.
Married couples may draft an Oregon postnuptial agreement if they don’t already have an existing prenup. It works similarly to a prenuptial agreement but becomes effective when signed.
How to Write a Prenuptial Agreement in Oregon
Before drafting a prenuptial agreement, consider the factors you want to address in the contract. Gather information concerning you and your future spouse’s current assets and liabilities.
1. Insert Contact Information
List your names and current addresses in the form. Indicate whether either of you were previously married or have children from prior relationships.
2. Decide on Property Ownership
Spell out how you’d like to divide property if you and your spouse separate or divorce. Consider division methods for premarital property and assets you obtained during the marriage.
3. Assign Company Ownership
If you or your spouse has an existing business, indicate how you’d prefer to treat it if the marriage ends. Include guidelines for ownership of any businesses started during the course of your marriage.
4. Identify Current Debts
List all outstanding financial obligations that you and your partner currently owe. Identify the source of the debts and provide a reasonable estimate of the balances.
Under OR Rev Stat § 108.725, courts may question the validity of a prenuptial agreement if either party doesn’t disclose their current liabilities.
5. Select Tax Filing
Indicate how you and your partner plan to file income taxes during the marriage: jointly or separately.
6. Clarify Housing Arrangements
Specify how you’ll divide ownership of the marital home. You may stipulate responsibility for mortgage or rental payments of the property, such as a 50/50 split or another provision.
7. Outline Spousal Support
Decide who receives spousal support if the marriage ends or if either party wants to waive it.
OR Rev Stat § 108.725(2) allows courts to order spousal support in some instances, even if both parties waive it in a prenuptial agreement. For instance, if one spouse requires public assistance after a divorce or separation, a judge may order the other spouse to provide support.
8. Sign the Agreement
Carefully review the terms of the document before signing it. While not required by law in Oregon, having a notary witness the signing may strengthen its validity in the eyes of the court.
Sample Oregon Prenuptial Agreement
View a sample Oregon prenuptial agreement below and then customize it using our document editor. Once complete, you can download a copy in PDF or Word format.
Legal Requirements in Oregon
There are a few legal requirements to be aware of when drafting a prenuptial agreement in Oregon.
Signing
OR Rev Stat § 108.705 requires both parties to sign a written prenuptial agreement. A verbal agreement is not enforceable, and courts may declare an unsigned agreement invalid.
It’s strongly recommended to notarize prenuptial agreements.
Voluntariness and Timing
If one spouse proves the other forced them to sign the prenuptial agreement, a court may not enforce it.
An Oregon prenuptial agreement becomes effective on the marriage date, per OR Rev Stat § 108.715.
Financial Disclosure
The prenuptial agreement should include a reasonable estimate of each spouse’s debts and assets before marriage. However, either party may waive the disclosure in writing under OR Rev Stat § 108.725.
Excluded Terms and Limitations
Prenuptial agreements can’t include any stipulations concerning future child support or custody.
Couples may use a divorce agreement to resolve child custody matters if they separate.
Attorney Representation
Oregon law doesn’t require you to seek an attorney’s advice before signing a prenuptial agreement. However, you may want to hire a lawyer if you have special concerns or circumstances.
Spousal Support Waivers
You can waive your right to receive spousal support in a prenuptial agreement. However, courts may override your waiver if you require public assistance because of a marital separation or divorce.
Modifications and Revocations
Either party may seek to modify or revoke a prenuptial agreement under OR Rev Stat § 108.720. However, both parties must agree to the modification or revocation in writing.
