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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:
Contact
our office today and schedule your free one-half (1/2) hour
initial consultation.
1-877-505-9455
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