Prenuptial & Postnuptial Agreements; Cohabitation Agreements

Couples have many reasons for wanting to give legal structure to their relationships.

Pre-Marital Agreements (also known as "pre-nuptial" or "ante-nuptial agreements") are binding legal contracts between you and the one you intend to marry.

Among the purposes people have in wanting such written agreements is to try to ensure that their assets remain theirs in the event the marriage fails, and/or to provide that their assets (or at least a large portion of them), go to their children in the event of death. For some, it is a smart and practical way to acknowledge the fact that NEARLY HALF of all marriages end in divorce.

The same concerns and considerations by couples who do plan to marry, and who draw up a premarital contract, apply to couples who never plan to marry by implementing a “Cohabitation Agreement.”

As with prenuptial agreements, safeguarding income and assets – and negotiating an agreement -- in the event of termination of the relationship or death is far easier to accomplish when neither party is angry, under stress and/or hostile. The agreement should cover all of the property (and debt) you had at the beginning of the relationship as well as any property you accumulate together leading up to your wedding date.

Normally, you would add provisions for support (or lack of support), on keeping each person’s property and income separate, sharing expenses, living arrangements, personal belongings, and so forth. Some other provisions include provisions for arbitration or mediation to deal with future disputes.

Finally, there are agreements drafted AFTER the marriage has taken place, but BEFORE either party separates, divorces, leaves, or dies. This form of agreement is called a Postnuptial Agreement. These contracts contain provisions similar to those commonly found in premarital contracts, such as the methods for protecting assets and income as well as the division of assets in the event of divorce or death. It is not unheard of for a spouse to suggest to his or her spouse that they sign a post-marital agreement and then, weeks later, announce that the marriage is over.

Many ask us if there are “standard” or “turn-key” approaches for pre-marital and post-marital agreements, and the answer is, “No”. Just as each couple is different, there are no set contract provisions that are always used. The agreement can be as limited, or as broadly stated as you want, in order to protect each individual’s rights and property.

Prenuptial Agreements (also known as “premarital agreements” or “ante-nuptial agreements” are becoming more common for second marriages, when one or both members of the couple have children for whom they want to protect assets, and ensure inheritance rights.

Cohabitation Agreements give legal structure to relationships for couples who are living together and sharing expenses, and who want to formalize their relationship without getting married. A cohabitation agreement will also work for same sex couples.

Postnuptial Agreements are contracts drafted AFTER a marriage takes place, and often BEFORE the couple separates, divorces, leaves, or dies.

Contact the Family Law Attorneys at Sheppard Law Offices, and we can help you formalize your premarital contract, cohabitation agreement, and/or postnuptial agreement.

Our family law firm can assist you in the following areas:

• Divorce
• Dissolution
• Custody & Visitation
• Shared Parenting Plans
• Child & Spousal Support
• Adoption Law
• Prenuptial & Postnuptial Agreements
• Annulment
• Legal Separation
• Contempt – violation of court orders
• Modification – changing court orders

Contact Sheppard Law Offices and Attorney Kenneth L. Sheppard, Jr. to discuss your particular situation. Call today to schedule your free consultation at 1-877-505-9455.

 

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