Dissolving a marriage can be a contentious and time-consuming process. For this reason, many couples choose to enter into marital agreements, which are legally binding contracts that establish how their assets will be divided in the event of divorce or separation. A spousal contract can also address closely related matters such as alimony, retirement savings, and shared bank accounts.
Consider contacting a Montgomery County marital agreements lawyer to determine whether entering into a contract with your spouse would be beneficial. Let one of our well-versed family law attorneys help you draft a legally binding spousal contract to protect your future in case of future divorce or separation.
Types of Spousal Contracts
A spousal contract can be entered into either before or during a couple’s marriage. For example, a prenuptial agreement – also called a premarital contract or “prenup” – is entered into prior to getting married. The predominant goal of a prenuptial agreement is to avoid costly disputes should the marriage dissolve. By signing a prenup, engaged spouses can protect their personal assets without having to worry about costly divorce litigation.
Married couples in Montgomery County who plan on divorcing have the option of entering into a separation agreement instead. A separation agreement can be drafted with the assistance of a local marital contracts lawyer. Like other spousal contracts, separation agreements can address issues such as the division of marital property, alimony, custody, access, child support, and retirement benefits.
A couple can enter a postnuptial agreement at any point during their marriage. While some see it as a blueprint for divorce, others find that signing a postnup contract actually strengthens and even saves their marriage by bringing a greater degree of transparency to the relationship.
In order for a marital agreement to be enforceable in Montgomery County, the parties must agree to the terms in writing. Additionally, the terms must adhere to Maryland family law. If there is uncertainty about a spousal contract’s enforceability, a judge must determine whether:
- The terms of the agreement are reasonable
- The agreement does not overtly benefit just one of the parties
- Both parties to the agreement fully disclosed their debts and assets prior to signing
- Either party entered into the agreement under duress or coercion
- Both parties either consulted with or waived their right to consult with an attorney prior to the contract’s execution
Fortunately, a marital contracts lawyer in Montgomery County can help ensure both the effectiveness and enforceability of a spousal agreement during the drafting stages.
Get in Touch with a Montgomery County Marital Agreements Attorney Today
Entering into a marital agreement with your spouse can be very beneficial for both of you. A thoroughly prepared spousal contact with legally valid terms can help protect your assets in the event of a divorce or separation. Do not hesitate to reach out to a Montgomery County marital agreements lawyer today for information on how a spousal contract can help protect your future.