Why Having A Marital Agreement In Place Is Recommended
It may be a difficult conversation to start, but it’s important for individuals to have an honest conversation about the benefits to both parties of having a marital agreement in place.
Without a marital agreement made prior to separation or divorce, your assets and financial security are at risk, particularly if you are getting married a second time.
Not only could the other party claim ownership rights to all marital property, thus leading to the equitable distribution of all property between you and the other party, but you could also be liable for his or her debts in a divorce or separation.
With a plan and a legal document in place, both parties know what to expect from their partner, and both will have the peace of mind provided by knowing that they are legally protected.
What Can Be Covered In A Prenup or Postnup?
Marital agreements can contain a multitude of provisions, including but not limited to:
- How and which property and debts should be divided if you separate or divorce
- How alimony should be paid and the term of the alimony
- How assets of each party should be probated if one spouse dies
- A plan for future income earnings and growth of assets
Your agreement will include documentation of all assets, income, inheritances, gifts, debts and other liabilities. It will be a legally binding, practical plan for property division should you and your spouse ever separate or divorce.
How Gardner Law Office Can Help
At Gardner Law Office, we have assisted many clients from all walks of life in many different situations with marital agreements. Our attorneys will ensure that you are legally protected and that all assets, opportunities and earning capacities are accounted for.
With over 60 years of combined experience, let us help draft an individualized plan for you and your situation.
Contact Us Today To Discuss Your Options. Call 610-866-9529 or email.