Marital Agreements: What You Should Know

Marital Agreement

Marital AgreementMarital agreements are drafted as assurance of property, specifically as to how you would divide it between you and your spouse. Talks of marital agreement come in handy when you have filed for a divorce, or your spouse died.

These matters cannot be simply negotiated in private. You need competent divorce attorneys in Denver, CO to help you understand the agreement and arrive at a decision.

Marital agreements aren’t just any documents. They specify and explain what you shall receive as your property after your spouse has left or died. Moreover, the details of the document, no matter how complicated, should serve your best interests.

1. Equitable Distribution of Property

Whatever you and your spouse have owned are the products of your efforts. Both of you have worked hard for it, thus, it is fitting that you receive your property back with equal and equitable rights and proportions. Divorce attorneys will help you recognize these properties that you rightfully own after the separation.

2. Terms of Property Ownership

Marital agreements often include clauses about where the property goes once the other party dies. As such, you might discuss with your lawyer annuity, insurance policies, retirement plans, and properties that are held in trust. You never know whether a third party is involved in the agreement, like in the case of other beneficiaries.

3. Types of Marital Agreements

The contents and terms of marital agreements depend on its type. For example, in a prenuptial agreement, terms are already discussed by the two parties. This means that the moment you sign the papers, you agree to whatever is stated in the agreement.

READ  Georgia Executes Woman for the First Time in 70 Years

The same holds true for post-nuptial agreements, though in this case, there may be no legal separation. The last type of agreement – the marital separation – deals with what happens during and after divorce.

4. Full Disclosure of Property

You have to be honest about the properties that you own. Marital agreements are legal documents – there could be implications if you fail to disclose your assets. The terms in the marital agreement should likewise be explained in full detail.

Since marital agreements and laws of inheritance are a tricky business, care must be taken in choosing lawyers to defend your case. Divorce attorneys can help you in drafting and discussing marital agreements, as well as child custody and divorce.