Marital agreements are a category of contracts that can alter the rights of individual spouses during the course of a marriage. These agreements are frequently made with potential divorce in mind, but they are often executed by couples who are more comfortable with setting expectations early on in the relationship.
If you are considering creating a marital contract, it could be a mistake to attempt to draft one on your own. What seems like a minor error at first could render the entire agreement null and void. Relying on the guidance of a seasoned family attorney could put you in a position to reach a fair agreement both parties can accept. A Hays marital agreements lawyer could assist you with this important decision.
One of the common types of marital agreements in Hays is the separation agreement. While many people think of marital agreements as documents that relate to divorce, separation agreements are the exception to that rule.
Separation agreements are often executed by couples considering divorce. They can address all the common issues that come up during the divorce process, including spousal support. However, entering into these agreements does not mean a divorce is ever finalized. Some couples remain married and live with the terms of this agreement, while others reconcile and end their agreement. A capable Hays marital agreements attorney could help in either case.
Prenuptial agreements are arguably the most common type of martial agreement. These legally binding contracts are entered into by two parties prior to their marriage. While a prenup can cover several issues, they are frequently related to the division of marital property and spousal support should the marriage end in divorce.
Prenuptial agreements frequently address marital property. These contracts could identify certain assets of either party that are to be treated as individual property during the marriage. This could prevent the court from dividing that property upon divorce.
Prenups also frequently deal with spousal support issues. In some cases, disputes over alimony can be the most contentious part of a divorce case. A prenuptial contract can allow the parties to reach a mutually agreeable amount of support should divorce ever occur.
Postnuptial agreements are functionally the same as prenups. Where these agreements differ is when they are signed by the parties. Unlike a prenup, a postnuptial agreement is signed after the marriage has been formalized. It could occur shortly after the wedding ceremony, or it could be signed by a couple that has been married for decades.
There are numerous situations where a postnuptial agreement might be worthwhile. For example, if one spouse incurs a tremendous amount of debt, a postnuptial agreement could protect the other spouse from that obligation. A postnuptial contract could also be useful for planning out an eventual divorce. A knowledgeable marital agreements lawyer in Hays could provide sound advice and counsel for when a postnuptial agreement might be a good idea.
A marital contract could have a significant impact on the course of your life and marriage. While thinking about the possibility of divorce or separation is never easy, it can benefit a couple to go into a marriage with all their cards on the table. Let a Hays marital agreements lawyer advise you on how these contracts could benefit you and your marriage. Call today.