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Simple English definitions for legal terms
marital agreement
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A quick definition of marital agreement:
A marital agreement is a contract between two people who are married or planning to get married. This agreement outlines how their property will be divided during the marriage or in the event of a divorce or death. It is also known as a marriage settlement or property settlement. There are two types of marital agreements: prenuptial agreements, which are made before the marriage, and postnuptial agreements, which are made after the marriage has taken place.
A more thorough explanation:
A marital agreement is a legal contract between two people who are married or planning to get married. This agreement outlines the division and ownership of property during the marriage or in the event of a divorce or death. It is also known as a marriage settlement or property settlement.
- Prenuptial Agreement: A couple decides to sign a prenuptial agreement before getting married. The agreement outlines how their assets will be divided in case of a divorce.
- Postnuptial Agreement: A couple decides to sign a postnuptial agreement after getting married. The agreement outlines how their assets will be divided in case of a divorce.
- Separation Agreement: A couple decides to separate and sign a separation agreement. The agreement outlines how their assets will be divided and how they will handle child custody and support.
These examples illustrate how a marital agreement can be used to protect the assets of both parties in case of a divorce or separation. It can also help to avoid lengthy and costly legal battles.