Often in Bellevue couples who have children from former marriages marry. In this case, parents with children from a previous marriage may understand that they want certain assets and assets transferred to those children and not to the spouse. It is an important estate planning tool because it allows the parent to target children after death. This is usually one of the most common clauses contained in the most at risk pre-agreements and agreements. An asset allocation clause may determine which assets are considered non-marital property in the event of separation and, therefore, as the legitimate property of a spouse. There are several reasons why a couple might choose to enter into a post-uptial agreement. The first is that they have not entered into a conjugal agreement before marriage, but that they decide on the basis of the marriage they wish. Sometimes a couple may set out to make a marital arrangement before marriage, but run the time to conclude it before the marriage, so that they sign it as a post-marriage arrangement after the marriage. When couples come to us just before a wedding and ask for a marriage agreement, we often advise them to do so as a post-uptial agreement, in order to avoid further conflicts over whether both parties had sufficient time to make decisions and seek counsel, or that one of the parties felt pressured to sign the agreement because of the impending date of the marriage. A post-marital agreement must be written in a legal document and it should be noted that there is no obligation or misrepresentation if both parties sign the agreement.
These agreements discuss the assets listed and each spouse should be represented by another lawyer, which reduces a spouse`s chance of asserting that he or she has been exploited. Once the lawyer has prepared the document, it must be signed and verified. In general, in the preparation of a marriage contract, each party provides a lawyer to help. As a general rule, counsel for one party will draft the agreement and then send it to the other lawyer for verification. The two lawyers alternately consult with their clients and send revised projects based on these discussions and what they consider to be in their client`s best interests. Unfortunately, this can create a contradictory atmosphere at a time in the couple`s life, where they are not particularly looking for conflicting, they are only looking to get married! RCW 26.16.250 quasi-common ownership – characterization limited to death order – waiver by written agreement. A final pitfall is when local real estate funds are used to improve, increase or pay a separate real estate value. Take back the fact that the woman before the wedding has her own condo, burdened by a mortgage. If the parties pay mortgages for this separate residence with municipal real estate funds, the result in some states will be that all or part of that residence is considered joint property because of the contributions of both spouses.