The need for a well-executed and detailed marital agreement can arise before or after the marriage has started. While some might think that executing a marital agreement is an admission that you are planning for the worst, nothing could be further from the truth.
A Coral Way marital agreement lawyer can assist you with establishing a plan that preserves your interests. From the ownership of assets and liabilities to financial support concerns, a skilled family attorney can help you formulate an agreement that does not leave your future to chance.
Types of Marital Agreements
There are a few different types of marital agreements that a Coral Way attorney can help someone craft and review.
A prenuptial agreement is established prior to a couple getting married and it formally outlines the rights and responsibilities of each party in a legally binding way. The provisions of a prenuptial agreement would then come into play should the couple divorce or separate, or in another situation as agreed upon by both parties.
Sometimes a couple will not execute this agreement prior to becoming married but they decide to do so later. This is called a postnuptial agreement. They contain many of the same provisions as prenups, with the main distinction being that this contract is entered into after the marriage begins.
Finally, marital settlement agreements come into play when a marriage is being dissolved. A marital settlement agreement will outline the rights and obligations of both parties and matters such as the division of assets, debts, child custody privileges, support obligations, and more.
Key Provisions of Coral Way Marital Agreements
Prenuptial and postnuptial agreements will cover much of the same ground in terms of the content they contain. While these contracts may be executed when one or both individuals possess substantial personal assets, they can also be beneficial in situations even where not much wealth is involved.
These agreements often identify the privileges and obligations of both parties regarding the property they hold solely or jointly. These assets could range from real estate and investment portfolios to retirement funds and bank accounts. A prenuptial or postnuptial agreement could also discuss the right or obligation of either side to pay alimony if the marriage ends.
In the case of a marital settlement agreement, this can cover a wide range of concerns. For example, if divorcing parties share children, the agreement would cover the distribution of time-sharing responsibilities between each. Florida is an equitable distribution state, which means that the Judge will want to see assets divided equitably (not necessarily equally) in the event of divorce. Matters such as spousal support, child support, and the distribution of debts would also be discussed in a marital settlement agreement.
Any marital agreement must be established in a way that follows the legal standards outlined by Florida law. A Coral Way marital contract attorney can confirm that this happens. For example, in order for a prenup to be considered legally enforceable, it must have been agreed upon by both parties, free from any form of compulsion, and does not contain any illegal or unethical provisions.
Prepare for the Future With a Coral Way Marital Agreement Attorney Today
Even if you do not have significant assets at stake, establishing a marital agreement is still a good idea. A Coral Way marital agreement lawyer can make sure you have these legal tools and protections at your disposal.
The Florida Probate & Family Law Firm can help you make sure the final draft protects all your rights and lays out the responsibilities of both parties. If you have questions about marital agreements or whether one might be appropriate for your situation, do not hesitate to call now and schedule your free legal consultation with an experienced attorney.