Common Law Sate Pre Nup?

[JohnIrish]

What is the name of your state (only U.S. law)? WA

I live in WA state... this is a common law state.

What does a pre-nup actually benefit in a common law state?

It is my understanding that assets are considered common after the marriage and separate if acquired prior to the marriage.

I understand a pre nup may be helpful for wills so you can give separate assets to those of your choice even if married.

However in a divorce.. would the judge typically just follow the common laws anyway?

 

[Ohiogal]

What is the name of your state (only U.S. law)? WA

I live in WA state... this is a common law state.

What does a pre-nup actually benefit in a common law state?

It is my understanding that assets are considered common after the marriage and separate if acquired prior to the marriage.

I understand a pre nup may be helpful for wills so you can give separate assets to those of your choice even if married.

However in a divorce.. would the judge typically just follow the common laws anyway?

Are you talking about being common law married or it being a community property state? Because Washington does not allow common law marriages. It does appear to be a community property state. however a prenup could possibly be used to limit what is community property and what is not as well as what each party would get in a divorce.

 

[JohnIrish]

Sorry If I was confusing...

I was referring to a community property state.

If the pre nup only says what the law already provides... than why a pre nup?

I guess the only reason is that it will not leave items up for chance as to what is community property and what is separate property.. is that correct?

 

[mistoffolees]

If the pre nup only says what the law already provides... than why a pre nup?

I guess the only reason is that it will not leave items up for chance as to what is community property and what is separate property.. is that correct?

There is some value to having clarity.

For example, the law says that if you divorce, you each get to keep the separate property you had when you married and marital property gets split. If the prenup clarifies exactly what you had at the time of marriage (groom has $xx in assets, etc, bride has $yyy in property, etc) then it might possibly save some fighting later on. It doesn't change what you're entitled to, but simply clarifies it.

It seems to me, though, that you'd get essentially the same effect by simply preparing a list of each of your assets at the time you marry and sign each others' lists. You can send me the money you'd pay your attorney to draft the pre-nup.

Before doing this, I'd ask exactly what it is you're trying to accomplish.

 

[Ohiogal]

A prenup allows you to limit what is community property and how much of such will be split. For instance a home titled to one of the individuals in a marriage that was bought before the marriage and paid for with income earned during the marriage -- the equity that accrues during the marriage is marital property and is split 50/50. A prenup may allow you to split it 70/30 based on the fact that one of you earns 70% of the income and the other 30%. You can also limit the amount of alimony (if any) that is to be paid.

A prenup can do a lot of things for you if it is written and enacted properly.

 

[mistoffolees]

A prenup allows you to limit what is community property and how much of such will be split. For instance a home titled to one of the individuals in a marriage that was bought before the marriage and paid for with income earned during the marriage -- the equity that accrues during the marriage is marital property and is split 50/50. A prenup may allow you to split it 70/30 based on the fact that one of you earns 70% of the income and the other 30%. You can also limit the amount of alimony (if any) that is to be paid.

A prenup can do a lot of things for you if it is written and enacted properly.

Yes, but my response was based on the statement that the prenup only required what the law already covered - it didn't sound like they were doing any of those things, just clarifying what the law would already have ordered.

 

[Ohiogal]

Yes, but my response was based on the statement that the prenup only required what the law already covered - it didn't sound like they were doing any of those things, just clarifying what the law would already have ordered.

I was responding to OP's mistake assumption that a prenup can ONLY cover what the law already entitles individuals to.