Where we will go for our honeymoon? Where will we live? How soon should we have kids? These are just some of the subjects soon-to-wed couples talk about while planning their marriage and future. However, one of the topics most couples avoid during this period is their finances – not only how to handle finances while married but also in the unfortunate event that things fall apart.
A prenuptial agreement may not seem romantic when you are planning your marriage because it can avoid a contentious divorce if things do fall apart.
What makes a prenup valid?
At its very basic, a prenuptial agreement distinguishes personal property from marital property and outlines how both properties shall be handled in the event of a divorce. For a prenuptial agreement to be enforceable in Washington, it must meet the following conditions:
- It must be written and signed by both parties. Washington, just like all the other states does not recognize oral prenups.
- Both parties must make full disclosures of their assets and debts.
- All information contained in the document must be factual.
- Both parties must have the mental capacity to understand the implications of the agreement.
- Both parties must sign the document without coercion or trickery.
- The prenup must not be amended to include any foreign clauses after signing.
With divorce rates at an all-time high, separating personal assets from marital assets in advance can give you peace of mind knowing that your hard-earned wealth will not be subjected to unfair division should the marriage fail. Find out how you can create a prenuptial agreement that can protect your rights and interests in the event of a divorce.