People get married, or not, for different reasons. Many believe marriage is a contract between the parties, whether or not that contract is written. Some people believe that a written contract between the parties helps ease the concerns of the husband and wife so they can get on with building their relationship once the legal issues are resolved. Marital agreements have been around for centuries.
Jim Holliman is often asked to prepare marital agreements and has extensive experience in this regard. In Alabama, such agreements are quite useful because Alabama is an equitable distribution state. During a divorce, this places the distribution of the husband’s and wife’s property and financial assets in the hands of the court. In the eyes of the court, the assets should be fairly divided. This has caused contention between the divorcing parties, particularly when one party had property and financial assets worth more than the other. Jim Holliman knows how to create marital agreements that protect a client’s quality of life.
Prenuptial and Postnuptial Agreements Protect the Assets of a Marriage Partner
How the property and assets are to be owned and distributed is spelled out in a marital agreement. This includes property and assets that one party had before the marriage and either party earns during the marriage. Property and assets may include bank accounts, real estate, gifts, inheritances and other valuables such as jewelry and art. Such agreements require full and honest disclosure. If assets are hidden from the other party a marital agreement may not stand up to scrutiny by a court. Each party in a marriage should seek independent counsel so the marital agreement is valid and legally sound.
These agreements are also used when marriage partners wish to enter into contracts in the case of the death of either party, as to what the other party will receive upon the death of the other. No one enters into a marriage with an intention to terminate a marriage. However, under Alabama law, marital agreements must meet strict rules and requirements to protect assets and finances in the case of the unlikely termination of marriage, whether by death, divorce, annulment of marriage or legal separation.
Postnuptial agreements are entered into after marriage. These are more difficult to enforce and require a stringent set of requirements as set forth under Alabama law.
Independent Review of Marital Agreements
Jim Holliman also reviews marital agreements developed by other attorneys. He has extensive experience litigating both the request to enforce them, as well as attempts to set them aside.
Reach Out to Us
We can help you develop a marital agreement to suit your needs. Call us today at 205-663-0281 if you want to know more about prenuptial and postnuptial agreements. Jim Holliman will help you so you can take care of your loved ones. We treat you like family.
Jim Holliman, Attorney