Purpose of a Post-Marital Agreement
A post-marital agreement is entered into between married persons who intend to stay married but want to modify their marital legal rights and responsibilities, either as part of an estate plan or as a precaution against the unanticipated possibility of a future divorce. A post-marital agreement may cover property ownership, debt liability, post-divorce spousal support, or post-death inheritance rights.The agreement becomes a binding contract designed to be enforceable either in the event of an unanticipated separation or divorce or when one of the spouses dies during an intact marriage.
The Same Process Options as in a Divorce
The process options for negotiating a post-marital agreement are the same as those used to negotiate a marital settlement agreement, i.e., Mediation, Interdisciplinary Mediation, Cooperative Negotiation by attorneys, or a Collaborative Team. Even though there is no court action filed in conjunction with creating a post-marital agreement, the same mandatory disclosure forms and documentation used in a separation or divorce proceeding must be exchanged prior to negotiation and execution.