Every year, more than 40,000 couples get married in the state of Washington. Most couples are aware of prenuptial agreements, but may not know that the state also recognizes postnuptial agreements. Both agreements are contracts between spouses that define how assets, income, and financial obligations will be handled should a marriage end in divorce. The difference is whether the agreement is signed before or after the marriage ceremony.
A Tacoma marital agreement lawyer can assist couples in preparing an enforceable agreement that complies with state law. Reach out to the compassionate family law attorneys at Lutz & Associates, P.S., for help today. Family law is everything we do, and we have more than 15,000 cases of experience to support you with.
Learning the Basics of Marital Agreements
To be enforceable, marital agreements must be written documents that are signed by both parties, and spouses must voluntarily sign the agreement without undue pressure or influence. Forced or coerced signatures can render a contract invalid. Both parties must provide lists of all financials, including:
- Assets
- Debts
- Income
- Business interests
Because Washington is a community property state, marital agreements can stipulate what is considered community property and protect your best interests, according to the Revised Code of Washington § 26.16. However, anyone withholding financial information at the time of execution can invalidate all or parts of the agreement.
A court will assess the fairness of the agreement at the time of signing. If one party has a significant advantage over the other or fails to disclose pertinent information, the courts may find the agreement unfair. A Tacoma lawyer can help ensure that financial disclosures in your marital agreement are as accurate and fair as possible and in accordance with state law outlined in R.C.W § 26.09.070.
Spouses do not have to use separate counsel when preparing marital agreements; however, separate legal representation is recommended to ensure both parties understand, agree to the contents, and are treated fairly. Using the same lawyer can raise fairness concerns, especially if the counsel is also the personal attorney of one of the parties. Through strong communication, we ensure you are informed, your calls are returned, and updates on your case are clear.
Why Should You Draft A Prenup?
Couples often hesitate to sign prenuptial agreements, with some feeling it shows a lack of trust between them. In reality, prenups offer both partners protection from the unexpected. Life rarely goes as planned. With a prenup, privacy can be maintained because the courts are not involved in asset division, and it protects assets that a spouse brings into a marriage. Prenuptial agreements establish a foundation of mutual respect and show regard for each other’s future.
Additionally, those entering into subsequent marriages often bring assets acquired before their current marriage, as well as debt or other liabilities. Spouses can use marital agreements to separate debt responsibilities or establish asset allocation. For example, a spouse has investment property that may increase in value. A marital agreement can set the property’s value at the time of the agreement and stipulate that any increase in value should be treated as community property.
Our experienced Tacoma lawyers have been working on marital agreements for couples since 1997, so we know just how important it is to protect your future while maintaining respect for your partner.
Can I Still Protect My Assets After I Am Married?
Circumstances can change as life happens. A spouse may inherit property, or a business may accumulate debt. A postnuptial agreement reflects these changes and addresses them appropriately for the benefit of both spouses. Our skilled team of Tacoma attorneys can help you draft a marital agreement after your wedding that focuses on your goals and where your future is headed.
Postnups can define what is community property and stipulate what is separate, especially if no prenup is in place. For example, a spouse brought a business partnership into the marriage that has grown significantly. They may want to stipulate how the increased value should be viewed. Postnups can address spousal support and assign debt responsibilities while helping to avoid current or future conflict.
Strengthen Your Marriage With Help From a Tacoma Marital Agreement Attorney
Marital agreements provide spousal protection for you and your loved one. They allow spouses to decide what is and is not community property, avoiding lengthy court appearances where judges decide how to divide assets. If a marriage ends in divorce, it simplifies the process and reduces the friction that can result when financial considerations are not defined.
A Tacoma marital agreement lawyer from Lutz & Associates can guide you through the process, ensuring that the agreements meet both state-enforceability requirements and your personal needs. Whether looking for a prenup or postnuptial agreement, we would love to speak with you. We have been serving couples like you in the Tacoma community for decades. Contact us today for a consultation.
