When Should You Create a Pre-Separation Agreement?
Divorce can often be a complicated, drawn-out process. The good news is that it does not have to be! Experienced divorce attorneys know that divorcing couples have at their disposal a wide range of options to make the separation process as easy and quick as possible.
Most everyone has heard of a prenuptial agreement, but not everyone is as familiar with other pre-separation agreements. Read on to learn more about what pre-separation agreements are and how they can help you.
What Are the Different Kinds of Pre-Separation Agreements?
There are many different kinds of pre-separation agreements. One of the most common is a prenuptial agreement, where the couple, prior to marriage, lays out in a legally-binding document what will happen to their assets in the event they later decide to separate. Prenuptial agreements are incredibly effective tools to mitigate the pain and stress that divorce can cause. When developing a prenuptial agreement, both couples should retain their own experienced divorce attorney to ensure that the interests of both parties are fairly and adequately represented.
Another kind of pre-separation agreement is called a post-nuptial agreement. Like a prenuptial agreement, a postnuptial agreement is a private contract between spouses that outlines terms for the division of assets in the event of a divorce or the other spouse’s death. Unlike prenuptial agreements, postnuptial agreements are undertaken after a couple has legally married. These can be a good option for couples who, after marriage, have acquired significant assets and want to make sure that the hard work each couple puts into the relationship is protected and respected.
Finally, another form of pre-separation agreement can be crafted prior to a couple filing for divorce, but when the couple expects that they will be separating. This kind of agreement can specify who gets what assets, as well as certain behaviors couples, can undertake during the separation process. This can include a wide range of activity such as how much each partner is permitted to spend from their joint bank accounts to whether or not each partner are able to see other persons during the separation process.
How Do I Know if a Pre-Separation Agreement is Right For Me?
You may think, “Our love is rock solid! I don’t want to risk ruining my relationship by asking them to get one of these agreements.” While some anxiety about seeking a pre-separation agreement is understandable and perfectly normal, it can help to think about a pre-separation agreement as an act of love for your partner.
In the event the worst should happen, you love them enough to want the separation process to be as easy and kind as possible. Additionally, it may also help to consider that pre-separation agreements are increasingly common! While they may not be something most couples talk about during doubles tennis games, you would likely be surprised by how many people you know already have one.
Considering a Pre-Separation Agreement?
Whether you are preparing to get married or bracing yourself for a divorce, the experienced family law attorneys at Blair H. Chan, III, PLLC, can help you mitigate some of the stress and length of your divorce with a pre-separation agreement. Contact us today to discuss your options.