If you get married and the relationship doesn't work out, you may be at risk of losing a significant amount of your financial assets, particularly if you are the sole breadwinner in the household. This is why it is very common for high-asset individuals to ask their fiancés to sign a prenuptial agreement before marriage. This document should theoretically ensure that one spouse does not walk away from a failed marriage with their ex-spouse's hard-earned assets.
If you are considering filing for divorce, the state in which you file factors greatly in the process. If you currently reside in Oregon, it's likely that you will need to file here. However, in some cases, you may have limited options to file elsewhere.
If you have decided to go through a divorce, you'll need to start thinking about how you will approach the divorce process. Generally speaking, there are two main routes that you will be able to go down. You can either go through a contested divorce or an uncontested divorce.
The thought of drafting and signing a prenuptial agreement doesn't cross the minds of most couples here in Portland. One of the reasons that they're unlikely to think about it is because most people believe that prenups are just for rich people. They don't think that a prenuptial agreement will benefit those of more modest means. They'd be mistaken though. Prenuptial agreements are valuable in many different ways.
Young people who decide to get divorced may point to historical evidence that it can work. For instance, a young woman may mention how her grandmother got married at 20 and stayed married for decades.
Prenuptial agreements are well-known ways for those getting married to protect their assets in the possible event of a divorce further down the line. Prenuptial agreements can cause controversy and can be very sensitive matters for couples because they must acknowledge that their relationship may break down in the future.
Almost all married couples go through difficult periods where they question whether they should continue to reside with their spouse. Hardships in life can present new challenges and cause even the strongest partnerships to become distant.
If you have already finalized your divorce, you may have some regrets. There could be certain things that you are dissatisfied with, or you may believe that the divorce courts made a decision that does not apply to your current circumstances.
Divorce is usually an emotional rollercoaster for both parties involved. There is probably a good reason why you are choosing to get divorced, and therefore, some part of you is likely feeling relief to be out of an unhealthy relationship. But at the same time, you are probably feeling fearful about the future, worrying about how your children will cope with the changes and stressing about financial issues.
Going through a divorce has the potential to impact your life in many ways, both positively and negatively. One of the ways that divorce can impact you is from a financial perspective. This is in part because so many changes will take place in your life that will potentially impact your assets and bank balance.