Prenuptial Agreements
A prenuptial agreement is a contract entered into by prospective spouses prior to marriage but in contemplation of marriage. The agreement secures the property rights of one or both of the prospective spouses. A prenuptial agreement clarifies and defines the property interests of the parties, both as to existing property and that acquired subsequent to marriage. Many times, by having a prenuptial agreement it prevents misunderstandings and resultant disputes. Generally, in order for a prenuptial agreement to be valid, the agreement must provide a fair and reasonable provision for the party not seeking the enforcement. There must be full disclosure of assets and debts of the parties. Each party must be represented by their own attorney. The parties must also enter into the agreement freely and voluntarily on independent advice of an attorney and with full knowledge of their respective rights.
Postnuptial Agreements
A postnuptial agreement (sometimes referred to as a “Property Status Agreement”) is a contract entered into by spouses during the marriage. The agreement secures the property rights of one or both of the spouses. A postnuptial agreement clarifies and defines the property interests of the parties, both as to property brought into the marriage and property acquired subsequent to marriage. Many times, by having a postnuptial agreement it prevents misunderstandings and resultant disputes.
Generally, in order for a postnuptial agreement to be valid, the agreement must provide a fair and reasonable provision for the party not seeking the enforcement. There must be full disclosure of assets and debts of the parties. The parties must also enter into the agreement freely and voluntarily on independent advice of an attorney and with full knowledge of their respective rights.
The purpose of a postnuptial agreement may be frustrated because of the broad discretion which the courts have in the disposition of property in the event of divorce. The character of the property, whether separate or community, does not always control the court’s distribution of it upon dissolution of the marriage. A postnuptial agreement concerning such character would, of course, be persuasive as to the proper disposition of property in the event of dissolution, but like a property settlement agreement made in contemplation of dissolution it may not be binding on the court.
Property Status Agreements and Co-habitation Agreements
Non-Married Relationships
The law describes a stable marital-like relationship between two non-married persons (opposite sex and same sex) as a “Committed Intimate Relationship” or “equity relationship”(sometimes referred to as a “meretricious relationship”). A committed intimate relationship is a stable, marital-like relationship where both parties cohabitate, knowing that they are not lawfully married. The factors relevant for establishing a committed intimate relationship between two parties include, but are not limited to, the following: (i) continuous cohabitation; (ii) duration of the relationship; (iii) purpose of the relationship; (iv) pooling of resources and services for joint projects; and (v) the intent of the parties.
In general, all property acquired during a committed intimate relationship (except separate property) is presumed to be owned by both parties (“Pseudo Community Property”). Upon termination of a committed intimate relationship, the court may divide the “Pseudo Community Property” in a just and equitable manner among the parties. The separate property of the parties is not before the court upon termination of the committed intimate relationship, and therefore is not subject to division.
Currently, Washington law allows two individuals in a committed relationship to make a claim against the property of the other person under certain legal equitable theories.
A Washington court could determine that all property acquired during the relationship (except separate property) to be owned by both parties. Upon termination of a relationship, the court may divide the property in a just and equitable manner among the parties. The separate property of the parties is not before the court upon termination of the relationship, and therefore is not subject to division.