DOMESTIC PARTNERSHIP AGREEMENT

For couples that want to specify their joint property versus separate property, or how they will handle the payment of household bills and other liabilities while residing together, as well as in the event of a separation, there are various legal instruments to address their various concerns depending on their marital status, including Cohabitation Agreements, Prenuptial Agreements and Postnuptial Agreements.

PRENUPTIAL AGREEMENT

Generally, prenuptial agreements simply set out what a couple wishes to define as separate property versus joint/marital property, and in the event of divorce they lay out how their assets will be divided and how they want to address the issue of alimony. It is best for a couple seeking a prenuptial agreement not to wait until the last minute. Each side must be prepared to provide the other with full financial disclosure, and it is preferred that each party have his/her own attorney to review and negotiate the terms of this contract.

These contracts are meant to provide engaged couples with peace of mind.

POSTNUPTIAL AGREEMENT

Some married couples that did not enter into a prenuptial agreement prior to their nuptials want to clearly identify the assets they intend to keep as separate versus marital.  Sometimes, they also wish to establish a cap on alimony in the event of a divorce.  These contracts are intended to promote greater trust and understanding within the marriage.

COHABITATION AGREEMENT

These agreements clearly identify the joint assets and debt a couple will manage together.  The contract further sets forth each person’s obligations and responsibilities towards joint expenses while sharing one residence.