PA – Trusts and Estate

Trusts & Estates

Marital Property Agreements

When marriages end, the ensuing time can be difficult for both spouses and it is not uncommon for that difficulty to spill over into the divorce proceedings. Divorce proceedings can be contentious and drawn out and can hurt both parties financially and emotionally. In many instances, having a marital property agreement can ease that pain.
 
When a couple gets divorced, there are rules, generally governed by state law, that impacts the division of their property. However, spouses can contract around state laws using marital property agreements that allow them to pre-designate certain assets to be specifically allocated. Similarly, should one spouse pass away, marital property agreements can direct certain assets go to people other than the spouse, such as parents, siblings or other relatives, ideal for family heirlooms and real estate.
 
KMK attorneys can prepare marital property agreements that help avoid extensive divorce litigation. Spouses can speak with an attorney and decide on how to approach the subject of the distribution of the marital estate before it becomes a necessity. Spouses can make unified decisions on topics, such as bank accounts and property, and decide how marital assets should be divided.
 
There are a multitude of reasons to initiate a marital property agreement. Call KMK to find out more.



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