Non-marital agreements are contracts that set up property rights for unmarried couples. Non-marital agreements give unmarried couples similar rules governing property rights that married couples establish in premarital agreements. Non-marital agreements set forth how money, property and debt among other things will be handled during and even after the relationship.
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, a non-marital agreement will establish who owns what and how you will deal with the financial aspect of your relationship. A non-marital agreement will also 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:
Non-marital agreements mainly need to have information on how property, money, and debt will be divided between the unmarried couples. Some of the terms that can be included in a non-marital agreement may included:
If you want to create a non-marital agreement with a partner, an experienced family law attorney can help you prepare a non-marital agreement 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.
Last Modified: 12-28-2017 01:02 PM PSTLaw Library Disclaimer
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