Premarital and Marital Settlement Agreements

Premarital Agreements and Marital Settlement Agreements are both contracts that govern how property will be divided and debts paid. In many respects the difference between each type of agreement is timing. Premarital Agreements are contracts that are entered into prior to marriage. Marital Settlement Agreements are contracts that are entered into when a couple divorces.  Both types of agreements require full and fair disclosure of both parties’ assets and debts.

Premarital Agreements allow the couple to pre-plan for what will happen with the couple’s property and debt should they divorce at some later time. Premarital Agreements can be limited or be more inclusive. The Agreement may address property and debts that the couple had at the time they married, future support, inheritance that each may receive after marriage and division of a spouse’s estate in the event of death.

Marital Settlement Agreements may address all of these topics. Once married, the couple ‘s decisions about their financial situation and financial future are subject to the divorce law.

If you are engaged and are considering a Premarital Agreement, the Collaborative Process is a great way for you and your partner to work together and develop a financial plan that considers each of your needs and concerns in a caring, mutually respectful environment.

If you are considering a separation, already separated or have filed for a divorce and are looking for a way to minimize the emotionally destructive and financially expensive traditional court process, you may choose to be part of the planning process of your financial future and, contact a member of the Collaborative Team of the Collaborative Law Professionals of Southeastern Pennsylvania. We can help!

 

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