Lagniappe (aka Blog)

206-926-9848

Pre-nups - 5 things to consider by Jaimie Schoen in Brides Magazine

Posted by Elise Buie | Jul 24, 2016 | 0 Comments

Talking about money is pretty much never sexy, and it's one of the hardest things to address as an engaged couple. After all, who wants to put a damper on the pre-wedding excitement by going through the details of your savings account and student loans? But getting comfortable discussing money now will prevent a lot of surprises &mdash: and conflicts — down the road, whether you're budgeting for two or for a whole family. One of the hardest topics to discuss? A prenuptial agreement.

Depending on your respective financial situations and the divorce laws in your state, it could be a useful document to draft, even if it may only apply for the next few years. If you've decided that a prenup might be right for you, Paige Christenberry, Senior Vice President and Wealth Advisor for Regions Bank, has given us five things you should definitely think about as you start the process.

Which Assets are Included?
"Make a detailed list of all of your assets, then identify which ones you'll want to keep as separate property and which ones you're comfortable retitling as joint property," says Christenberry. Your prenup will outline which assets will remain in your name in the event of a divorce (say, the car you purchased a few years ago) and which would be split (and how). You should also make an itemized list of any debts you have, and consider including language that will protect you from being on the hook for your partner's payments down the road.

How Long Will it Last?
"Some prenuptial agreements last for a set number of years, while others have no end date," says Christenberry. Some prenups have different terms depending on how long the marriage lasts, with some terms ceasing to apply after a certain period and others kicking in after a set number of years. If you decide you no longer want the prenup down the road, you and your lawyers can draft an additional document rendering the prenup void.

Does it Matter Who Ends the Marriage?
"Decide if the terms would be different depending on who files for divorce, and whether there will be associated consequences," Christenberry explains.

Is Alimony Included?
Depending on where you live, you may be able to specify how alimony will be handled (or if it will be forfeited altogether), while some states prevent any language eliminating spousal support.

Do We Have Time?
A prenup shouldn't be left until the last minute, even if it's the least exciting thing on your to-do list. "Once you have a better idea of the objectives of your prenup, consult with your own attorneys [yes, you'll each need one!] to discuss drafting the documents," Christenberry says.

About the Author

Elise Buie

Passionate, creative, problem-solving attorney who crafts solutions rather than obstacles. Elise spends significant time educating her clients on healthy communication skills. Elise also ensures that her clients make informed decisions by understanding the future emotional and financial implications of their decisions. Your family's future is our first priority. Elise teaches her clients new skills to empower them in the future as they adjust to the new family structure. While divorce ends a marriage, it is the beginning of your new, often times, more authentic life. Elise will help you begin that new life with new skills to handle any future challenges.

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Areas We Serve

At Elise Buie Family Law Group, PLLC, we represent clients from Seattle and Bellevue, Washington, and the surrounding region, including all of King County and the cities of Redmond, Kirkland, Bellevue, Edmonds, Issaquah, Kenmore, Kent, Federal Way, Shoreline, Des Moines, Bainbridge Island, Vashon, Auburn, Renton and Puyallup. We love working with clients from Seattle's unique, eclectic neighborhoods: West Seattle, Fremont, Ballard, Madrona, Queen Anne, Greenwood, Ravenna, Maple Leaf, Wedgewood, View Ridge, Laurelhurst, Windermere, Madison Park, Magnolia, South Lake Union, Capitol Hill, Broadmoor, Phinney Ridge, Crown Hill, Yarrow Point and Mercer Island.

Contact Us

Call us at (206) 926-9848
Email: info@elisebuiefamilylaw.com

We'll be happy to set up an initial consult. Thank you for looking around our site. We look forward to serving you.

We welcome your email, but please understand that if you are not already a client of Elise Buie Family Law Group, PLLC, we cannot represent you until we confirm that representing you would not create a conflict of interest. Please do not include any confidential information until we verify that our office is in a position to represent you and our engagement is confirmed in writing. Prior to that time, there is no legal representation and thus no attorney-client confidentiality.

Thank you.

Elise Buie Family Law Group

Jumping_20orca-compressor

Elise Buie Family Law Group PLLC
1001 Fourth Avenue, 44th Floor   Seattle, WA 98154

Menu