Seattle Family & Marital Law Attorneys

Frequently Asked Questions

What is a prenuptial agreement?

A prenuptial agreement is a written contract that two people sign before getting married.  A prenuptial agreement will outline separate assets in an effort to protect these assets from equitable division during a divorce.  The prenuptial agreement will define what is to happen to assets in the event that divorce or separation occurs.  A Seattle family lawyer can help you draft this legal document. 

Why is a prenuptial agreement a good idea?

A prenuptial agreement can provide reassurance to both marriage partners about the financial impact of a divorce, especially if there is a large disparity of wealth between the two spouses.  For the wealthier spouse, a prenuptial agreement will protect their assets and for the less wealthy spouse it will somewhat guarantee their entitlement to spousal support and property division if a divorce ever does occur.  With one in three marriages ending in divorce, it is a good idea to have a backup plan considering how greatly your finances could be affected if you fail to have a prenuptial agreement.

 How do I know if I need a prenuptial agreement?

The following types of people may want to consider getting a prenuptial agreement:

• People with considerable amounts of cash, stocks, bonds, mutual funds, or investments.
• People who own a significant amount of business property including rentals, proprietorships, partnerships, small businesses, corporations or professional associations.
• People who have professional degrees or licenses (these are considered to be assets that produce income).
• People with sizeable savings and investments, including 401K, retirement, profit sharing plans, and inheritances.
• People with children from former marriages (in the event of divorce or death, you will want your assets passed down to your children). 

What are the differences between “marital” assets and “separate” assets?

Separate assets include anything that was accumulated by a person before a marriage that was never intermingled with marital funds after the marriage.  Marital property pertains to anything that was accumulated buy the couple during the marriage.  Any income that is contributed to funds or investments during the marriage will also be considered marital property and will be equally distributed in the event of a divorce, unless otherwise specified in a prenuptial agreement. 

If you have further questions about marital legal issues or nuptial agreements, contact a Seattle Family & Marital Law Attorney today!