Protecting Your Property

A marriage combines two individuals together and brings together all the resources they have acquired before and during their relationship. Some of the property that a spouse has before the relationship may be personal and important to them. They also may gain property during the marriage that they consider theirs and would want to ensure is protected. It is important for an individual to make sure their property is protected in the event that they face a divorce.

Having an oral agreement between the two parties is typically not substantial enough. In order to have greater assurance that a court will uphold the marital agreement and protect each person's property, a draft should be written and signed by both parties. A prenuptial can generally cover anything the couple chooses to include; whether or not it is recognized by the court may be another issue. The subjects most commonly covered in a marital agreement are those relating to the financial and physical estate of the couple. This can include their investments, home, real estate, or anything else considered community property.

The situation for an agreement often arises when one of the spouses has a significantly higher income than their partner, or one of the spouses has a business preexisting to the marriage. Since the couple does not know what the future will hold and cannot guarantee their marriage will last, it is important they guard themselves for any situation that occurs. It is important a spouse protects their property as best they can; part of this can be having an agreement with their partner as to what will happen if their marriage ends. Depending on the states personal stand, they will either follow equitable distribution, or community property. Either way of which will cause the financially superior spouse to lose a portion of their earnings.

Click here to locate a family law attorney near you to help protect your property.