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Whether you are considering marriage, are already married, have recently reconciled, or thinking about obtaining a divorce, entering into a marital agreement with your partner may be in your best interest. A marital agreement allows engaged and married couples to plan how certain assets will be managed during the marriage, and how parties will resolve property and financial disputes in the event of divorce. This agreement can be drafted with the help of a dependable family attorney.

A Richmond marital agreements lawyer can help you make current and future life decisions with your partner by preparing and negotiating contract terms that are mutually beneficial to you both.

Types of Marital Agreements in Richmond

Depending on when couples execute them, marital agreements can take many forms. When couples enter into a contract before they marry, this type of marital agreement is called a premarital agreement (sometimes referred to as a “prenuptial” agreement). When they are already married but have not yet decided to divorce, they can draft what is known as a post marital (or “postnuptial”) agreement. When spouses have recently reconciled following a separation, it may be called a reconciliation agreement. When spouses are considering divorcing and enter into an agreement to decide property or custody issues in contemplation of divorce, that contract is called a settlement agreement, property settlement agreement (“PSA”), or marital settlement agreement.

Regardless of the type of marital agreement a couple wishes to enter into, a marital contract attorney in Richmond can help them devise, prepare, and execute legally enforceable contracts that aim to govern issues related to the marriage.

Essential Terms in Martial Agreement

Although marital agreements are called different names depending on when and for what reason partners enter into them, all serve a similar purpose. The purpose of marital agreements is to settle all potential disputes relative to divorce with little or no intervention from courts or divorce judges. Marital contracts typically include the following provisions:

  • What specific assets are considered the sole property of one spouse
  • What assets are considered marital property subject to property division during divorce
  • How marital assets will be divided between spouses upon separation or divorce
  • Any custody arrangements concerning shared biological children
  • Terms concerning the payment of child support, alimony, or spousal support
  • Continuation of health and life insurance benefits during the pendency of the marriage and divorce proceedings
  • Terms governing how parties may resolve disputes that arise concerning the agreements

While parties do not need to have all of the above terms in their marital contract, these provisions cover a broad range of issues ancillary to divorce. The inclusion of all applicable terms may benefit spouses who seek to finalize their divorce quickly and with relatively little conflict.

A marital agreements attorney in Richmond can help future and current spouses choose which terms to include in their contracts by reviewing their unique circumstances. Based on the spouses’ marriage, the assets they own, and whether they have children together, an attorney can tailor a marital agreement to their specific needs, and negotiate favorable terms to ensure that the interests of the party they represent are adequately protected.

Book a Consultation with a Richmond Marital Contracts Attorney

If you and your significant other are engaged, married to each other, or contemplating divorce from one another, a Richmond marital agreements lawyer is available to discuss whether you and your spouse should execute a marital agreement. Book an appointment today and let a legal professional craft a marital contract that is specific to your needs.

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