What is a Non-Marital Agreement?
A non-marital agreement is a contract that sets up property rights for unmarried couples. Non-marital agreements give unmarried couples similar rules governing property rights that married couples establish in premarital agreements. Why Would I Want to Make a Non-Marital Agreement?
If you and your partner are living together or plan on buying property that you will share, but do not plan on getting married any time soon, you may want to make a non-marital agreement to establish who owns what and how you will deal with the financial aspect of your relationship. A non-marital agreement will help you divide your property in the case of a breakup or death. A non-marital agreement can also establish how monthly bills and income will be divided during the relationship. While planning about what will happen if your relationship ends may seem pessimistic or depressing, a non-marital agreement can help you in a number of ways: - A non-marital agreement will help you know what you own if you and your partner are sharing property. This is especially important if you and your partner purchase a home together.
- A non-marital agreement can greatly ease the difficulty of dividing property in the case of a breakup or death.
- Making a non-marital agreement can even strengthen your relationship with your partner by encouraging you to communicate your expectations regarding the financial aspects of your relationship.
Are There any Laws about Non-Marital Agreements?
While there are few state statutes governing non-marital agreements, most courts recognize non-marital agreements. Most states recognize an unmarried couple¿s right to form contracts, but some require that the contracts be in writing. How Can a Lawyer Help Me with my Non-Marital Agreement?
A lawyer specializing in wills, trusts, and estates can help you draft a contract that meets both you and your partner¿s needs. A lawyer will also be able to inform you of the prevailing law in your state regarding non-marital agreements. |
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