What is a Marital Property Agreement?
As opposed to a prenuptial agreement, a Marital Property Agreement is a contract entered into during a marriage between the two spouses. It can be entered into at any time during the marriage and can address any number of needs. These agreements look very similar to prenuptial agreements, but are clearly different.
There are many considerations that go into a marital property agreement. Many times, they are drafted as part of an estate-planning process, in order to make that process more efficient. Other times, they are drafted to protect various assets for any number of reasons. These agreements sometimes only address issues such as spousal maintenance (formerly alimony), as well.
Because Marital Property Agreements are individually drafted for each client, you should contact the Nevitt Law Office to discuss the reasons for an agreement and what you need the agreement to do for you.
Similar to Marital Property Agreements, the Nevitt Law Office recognizes that many couples live together without the benefit of marriage. For those couples, a cohabitation agreement may be appropriate. We can address issues about how various assets will be held, how some property is titled, which party will pay for which expenses, as well as how the property and debts might be divided, if the relationship ends.
With a cohabitation agreement we are able to help regulate property rights and arrangements for financial support, debt, caring for children, etc. The advantages of a cohabitation agreement is that it clarifies financial commitments. Although it is impossible to predict the future, these agreements help make the future more certain. There are no laws or statutes that govern situations where people live together without being married. A cohabitation agreement can help a lot in making the end of a relationship easier.
Like other, similar agreements for married couples, cohabitation agreements are drafted for each unique client and are tailored for that client. It is important to seek legal advice, to make sure your agreement says everything you need it to say. Call the Nevitt Law Office for a consultation to discuss your unique situation