Planning for the Future with Marital Contracts
We understand that a prenuptial or postnuptial agreement is often a sensitive topic to approach with your fiancé or spouse, so let us provide you guidance in demonstrating the practical and emotional advantages of such contracts. Planning for your future can eliminate future disputes and actually make your relationship stronger. We strive to create an agreement that all parties are comfortable with.
What are marital agreements?
A marital agreement is a legally binding contract that is signed by couples that are engaged or already married. The agreement outlines how their assets and finances will be handled in the event of a separation or divorce. A prenuptial or premarital agreement is signed before the couple is married. A postnuptial agreement can be signed any time after the wedding.
A prenuptial or premarital agreement can cover a variety of issues, including:
- Deciding how your assets and real property will be divided
- Taking care of certain estate planning matters, such as providing for children of prior marriages
- Outlining your intent regarding alimony payments
- Setting forth the ownership rights in a death benefit from a life insurance policy
- Determining how future disputes will be settled, such as via mediation or arbitration.
- Establishing the applicable law for construing the agreement.
It is important to note that a prenuptial contract cannot adversely impact the rights of a child, such as attempting to establish child custody or child support agreements.
If a married couple wants to make binding decisions regarding their finances, they can sign a post-nuptial agreement. This type of agreement may make your relationship stronger because it serves to eliminate fighting over money and it allows you to resolve numerous issues that could threaten your marriage.
Enforcing marital agreements
To ensure that your marital agreement is enforceable, you should work with an experienced family law attorney to ensure that it is properly drafted and the appropriate procedures are followed when the contract is signed. Arguments that the contract was signed under duress or one party failed to make fair financial disclosures can lead to the agreement being invalid. One important way to help ensure the enforceability of your marital agreement is to have both parties represented by their own legal counsel.
If you are interested in creating a marital agreement with your future spouse or current spouse, or you need assistance with other family law matters, call the knowledgeable attorneys at the Men’s Divorce Law Firm. Our office is located in Orlando, Florida, but we proudly serve husbands and fathers across the State. The firm also serves men out of state with child custody interests in Florida.