Fort Lee Marital Agreements Lawyer
Marriages end for any number of unforeseeable reasons, from differences in desires to have children, conflicts regarding religious ideals, or illness or infirmity, for example When circumstances change and divorce becomes necessary, many people wish they had a contingency plan for the division of their property, which is why marital agreements before and after the marriage are essential. Any spouse with questions about how to distribute their marital assets and liabilities should contact a Fort Lee marital agreements lawyer to discuss their situation.
The Purpose of the Marital Agreement
Marital agreements create plans for various potential scenarios in a marriage and help spouses agree to. Creating marital agreements to plan for unintentional situations is responsible and pragmatic. Many modern couples embrace martial stipulations as they understand that marriages often end in divorce, and structuring financial obligations through a written document can often help couples feel safer about their own situations.
Types of Marital Agreements
There are several types of contractual agreements that pertain to specific situations and potential outcomes within a marriage, and a local attorney could help draft any of them.
Prenuptial agreements are developed before marriage and address either one or both spouse’s financial assets and liabilities prior to entering into the marriage contract. The parameters are clearly established, and the parties are required to certify that each understands his or her rights, responsibilities, and obligations should the marriage end in divorce. The prenuptial agreement can also contemplate assets obtained during the marriage. This contract helps couples have honest conversations about their finances prior to marriage. Having a firm grasp on their financial situation can help determine whether the parties are ready to take the next step in their relationship.
Similar to the prenuptial agreement, the postnuptial agreement plans for contingencies regarding a couple’s assets and liabilities. The postnuptial agreement is created after the marriage has already begun and offers the parties the opportunity to “renegotiate” the marital terms in the case of divorce or death. Spouses may want to consider a postnuptial agreement in the following circumstances:
- Inheriting significant assets;
- Learning about children they did not know they had;
- Disagreement on a prenuptial agreement;
- Learning of marital infidelities but wishing to continue the relationship; under new terms
Prior to divorce, parties may wish to enter into a separation agreement. This contract involves living apart with separate assets and may govern child support, visitation and custody arrangements, and a pre-divorce division of assets. Separation agreements present lower-cost opportunities for parties to separate while remaining civil and avoiding unnecessary court intervention. Attorneys can assist with the handling and division of assets, including obtaining new individual credit cards and bank accounts, the closure of joint accounts, and the full disclosure of any financial liability that could be harmful to one spouse.
Marital Settlement Agreement
The marital settlement agreement is similar to the separation agreement but dissolves the marital contract. The difference here is that the marriage is fully terminated.
Considerations for Every Marital Agreement
Marital agreements vary. Regardless of the type of arrangement, each contract typically accounts for the following:
- Retirement accounts, pensions, and 401ks;
- Debt, including loans, credit card accounts, etc;
- Disposition of real and personal property;
- Child or spousal support;
- Health, life, home, auto, and other insurance requirements;
- Inheritance considerations
An experienced marital agreements lawyer in the area could examine a couple’s particular circumstances to ensure that all of these factors are accurately evaluated.
Contact a Fort Lee Marital Agreements Attorney
If you have questions about the status of your marriage, or you suspect your marriage may someday terminate, you should contact a Fort Lee marital agreements lawyer to discuss your legal obligations. The sooner you plan for your future, the more confident you will feel about your rights, and the first step is learning how the law impacts your specific case. Call now for more information.