Marital agreements can offer couples many benefits, both in divorce and in marriage. Although these documents don’t seem very romantic, when used correctly, they provide couples with guidelines on how to address financial matters. As you might expect, this can be just as valuable when divorcing as it can be in a healthy relationship.
A premarital agreement is the most well-known marital agreement. Couples sign such a document before they get married. If they are already married, couples can choose to draft a postnuptial agreement instead. A postnup addresses similar issues such as defining each spouse’s financial obligations and detailing how to manage each spouse’s debt.
Marital agreements entered into during or before marriage can make the process of getting divorced a bit easier in the following ways.
Divorce simplification: Pre or post-marital agreements that address financial matters can significantly reduce the amount of time it takes to divorce. Saving time during divorce also means saving money.
Property division: As an equitable distribution state, Florida instructs judges to decide how to distribute marital property fairly. Well-written postmarital agreements can aid the judge in this task while ensuring that you and your spouse get the arrangement you wanted.
Financial protection: Marital agreements can be powerful tools to aid spouses in making financial decisions involving alimony, caring for children brought into a marriage and keeping separate property away from marital property.
Although marital agreements sound like complex legal documents, they are not as difficult to draft as you might think. To ensure that your marital agreement is valid, fair and compliant with the state’s law, it is wise to have a legal professional assist you. A poorly-written or invalid agreement is likely to complicate your difficult situation even more.