A prenup, or PMA, is an incredibly beneficial tool for parties who want to protect themselves from the unknown.
When I got married in law school, I only had a few thousand dollars and a car. I thought a PMA wasn’t necessary because we would build it together and I didn’t like the idea of planning for divorce. It felt icky to me.
What I didn’t see then, because I was fresh faced, wide-eyed, (young, dumb) and in love, was that I can’t control the unknown. I did everything right in my 25 year marriage… and yet, I had to share half of my net worth to someone who cheated on me and didn’t want to make the marriage work.
Here’s the naked truth. If you have the unfortunate experience of enduring a divorce, you either have the state of Oregon determining the split or you have your previously negotiated PMA determine your split. Another way to look at it is this… in a divorce, there is always a PMA, it’s either Oregon’s default PMA (i.e. divorce laws) or your privately held PMA.
It’s comparable to your estate. If you die without an estate plan (i.e. a will or a trust), then the state of Oregon decides how your assets are distributed, but if you die with an estate plan, your estate plan determines the distribution.
Why would you give the state of Oregon the power to determine the distribution of your stuff when you could easily decide for yourself?