More and more people are choosing to draft marital agreements in the United States to protect their assets and to ensure that important decisions are mutually agreed upon. However, people must remember that certain factors must be met before a marital agreement will be considered legally binding. These factors are outlined below:
1) The marital agreement must be in writing. If it is not in writing, it may not be enforceable in court. All marital agreements should also be signed by both parties.
2) Mutually binding promises. Marital agreements should include mutually binding promises that have value for each party that signs the agreement.
3) Full disclosure of assets. When signing a marital agreement, each party must agree that the agreement is fair and that assets were fully disclosed. This means that one party cannot hide information about income, assets or finances from the other party or else the agreement may not be binding.
If you are thinking about drafting a marital agreement, now is the time to get help from a Jacksonville family lawyer at Hutchinson Law. Contact our law firm now!