SPOUSAL AGREEMENTS
-
What are they?
The term "Spousal Agreements" is a broad term encompassing various types of legally binding contracts parties can enter into before, during or after their marriage or separation. These types of agreements allow parties to control the effects of certain events or circumstances in the future.
From a general standpoint, spousal agreements may address various issues such as division of the property and debts, spousal support, child custody and child support. However, there are limitations on which issues may be addressed in certain types of spousal agreements.
-
-
Pre-marital agreement
A pre-marital agreement, commonly referred to as a “prenuptial agreement”, is a contract between future spouses that is entered into prior to marriage. These agreements often set forth specific terms to be effective during the marriage and/or in the event of a separation, divorce, death or other event.
-
Reconciliation Agreement
This type of postnuptial contract is entered into after parties have separated and decided to attempt a reconciliation of the marriage. It is designed to protect certain rights and/or set forth agreed-upon terms during a period of reconciliation between spouses and/or in the event they are ultimately unable to work through their marital differences.
-
POSTNUPTIAL AGREEMENT
This type of contract is entered into by spouses during the marriage, before or during a period of separation. These agreements typically set forth agreed-upon terms in the event of a future separation or divorce. Similar to other spousal agreements, parties may address issues such as division of the their property and debts and spousal support (under certain circumstances).
Postnuptial agreements entered when there is no contemplation of a separation may not address support. However, support may be addressed in such an agreement entered during, or in anticipation of, an immediate separation. Postnuptial agreements may be attractive options for spouses who are separated but have not ruled out the possibility of reconciling.
-
Separation Agreement
This type of contract is entered into by spouses with the intent to live separate and apart permanently. Separation Agreements can only be entered into during a period of separation or in anticipation of a separation that will begin soon after execution of the agreement. These types of agreements may address division of property and debts, spousal support, child support and child custody, amongst other issues.