Portsmouth Marital Agreements Lawyers
A marital agreement addresses each spouse’s rights and responsibilities within a marriage. An agreement you enter in before a marriage is called a prenuptial agreement and an agreement executed after marriage is called a postnuptial agreement. At Kozak, Davis & Renninger, P.C., we understand the importance of protecting your rights and interests before, during, and after marriage. While a marital agreement may seem like a big decision, it can also protect both you and your spouse in the event of incapacitation, death, or divorce.
If you need assistance establishing or modifying a marital agreement, contact our office online.
A marital agreement may not be right for every couple. For others, it is an extremely valuable contract. You will need to determine your assets, debts, and plans for the future to determine if a marital agreement will work in your situation.
Types of Marital Agreements
Marital agreements cover a range of contracts related to divorce and marriage.
The following are the two types of marital agreements available in Virginia:
A prenuptial agreement is a contract a couple signs before marriage that provides details regarding property and asset division in the event of a divorce or death. This type of agreement may encompass everything from the marital residence to bank accounts and may also include one or more of the following matters:
- Rights and obligations of each spouse regarding property owned
- Division of property in the event of a divorce or death
- Spousal support
- Information pertaining to who can buy, sell, use, manage, or control property and/or certain assets
- Provisions regarding wills and trusts
Prenuptial agreements need to be finalized before the couple is legally married.
A postnuptial agreement is like a prenuptial agreement, but it is created after the couple is married. A postnuptial agreement can cover all the matters a couple would also establish in a prenuptial agreement, including property division, spousal support, provisions regarding wills and trusts, and more.
A couple make wish to obtain a postnuptial agreement if they did not originally establish a prenuptial agreement before getting married. Additionally, if there is a part of the prenuptial agreement the couples would like to modify, amend, or revoke, a postnuptial agreement would provide them with the ability to do so.
How to Ensure a Martial Agreement Is Valid and Enforceable
Marital agreements are enforceable if they are written and signed voluntary by both spouses. Each spouse must also have received fair and reasonable disclosure of the property and assets of the other.
Reasons to Hire a Lawyer for Assistance
It is important to ensure that your rights are protected and that your marital agreement is legal, valid, and enforceable. If you do not properly execute your marital agreement you could face future ramifications such as being unable to protect property and assets you planned on maintaining yourself. You may also want to hire an experienced marital agreement lawyer for the following reasons:
- Provide you with a better understanding of the law
- Help you draft a fair and reasonable marital agreement
- Protect certain property and assets
- Determine how property should be distributed in the event of your incapacitation and/or death
- Ensure no vague or confusing language is used in the agreement, which could invalidate it in the future
Contact an Experienced Attorney from Our Firm
There are a variety of reasons as to why a couple would want to enter into a marital agreement, however; it is important to understand the nature of this agreement as well as ensure its enforceability before you do so. If you require assistance crafting or modifying a marital agreement, we can provide you with the help you need to understand and protect your rights.