Many spouses make the mistake of entering marriages or domestic partnerships without adequate knowledge of their rights, obligations and potential liabilities. While these couples have good intentions, they are often blindsided by separations that leave them in fragile emotional and financial states. If your goal is to protect your property and assets in the event of a divorce or separation, you are encouraged to reach out to Lauren S. Petkin Family Law and Mediation.
Often referred to as a “prenup” or premarital agreement, a prenuptial agreement ensures that both partners are protected in the event of a divorce or separation. The prenuptial agreement addresses financial issues, including the potential division of assets and debts in the unfortunate event of a divorce. These agreements require the assistance of a highly experienced, thoughtful lawyer. The right family law lawyer can maximize the enforcement of your agreement, minimize the risk of your agreement being set aside due to technical or drafting flaws, while maintaining an amicable negotiation process between the parties.
Postnuptial agreements, also known as postmarital agreements, take place after couples are married. Despite having no intentions of divorce, many spouses decide that they can benefit from the same financial protections afforded to those who draft prenuptial agreements and such agreements can be thoughtfully entered into years after marriage.
Many partners choose to forgo or postpone marriage. Although some legal protections remain unavailable for cohabiting partners, it is possible for these individuals to safeguard their assets if they are cohabiting with their partner. Cohabitation agreements may determine how and under what circumstances property is accumulated while living together and divided if the partners separate. For example, if unmarried partners decide to become homeowners, plans must be made for the possible division of that real property. Most unmarried partners choose to keep some property separate, but if the preference is for property to be jointly purchased and divided, partners can make this distinction with careful drafting of cohabitation agreements.
Although same-sex marriage is legal in the United States, many same-sex couples continue to pursue domestic partnerships. Regardless of how the relationship is defined, partners can benefit greatly from prenuptial, postnuptial or cohabitation agreements.
Regardless of the current nature of your relationship, it is in your best interest to seek skilled legal protection. Look to Lauren S. Petkin Family Law and Mediation for compassionate and trustworthy service.
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