Marital & Separation Agreements
Work with Virginia Collaborative Divorce Professionals
In a marriage, all property that is not specifically mentioned in a marital agreement is considered marital property. In the event of a divorce, death or separation, marital property is distributed as seen fit by a divorce court judge. In order to avoid confusing and sometimes frustrating marital property distributions and judgments, couples can opt to make pre-planned marital agreements. In these agreements, property such as money and real estate are addressed and distribution is agreed upon by both parties. There are three kinds of marital agreements that most couples are eligible for and that our team of Collaborative Divorce professionals can draft and file for you. These include:
These agreements are drafted prior to marriage. Couples use them to establish their property and determine how it will be distributed in the event of a death, divorce or separation.
In a post-nuptial agreement, couples determine the potential distribution of assets should the marriage end in divorce. This agreement can be completed at any time during the marriage.
By working with our team of professionals, separation agreements can be drafted while a couple is in the divorce or separation process.
Without a marital agreement, divorce courts and judges will usually determine the division of the property based on equitable distribution. All property, funds and real estate that were acquired during the marriage will be considered marital property and will be equally distributed between the couple. Equal distribution is generally done in terms of financial worth, not actual property. In most cases, the determination by a judge or court system is more favorable to one spouse than to another and can lead to litigation. Most couples who wish to avoid this trying and emotional process can work with a collaborative team to help ensure that their property is retained and distributed in a fair and amicable manner. If you have questions regarding marital agreements or divorce, do not hesitate to contact the Collaborative Divorce Center of Coastal Virginia today.
More general information about Separation Agreements and the laws that govern them can be found here.