A Prenuptial Agreement or Property Settlement Agreement provides for the property rights of one or both of the prospective spouses and/or children.
It defines the rights and obligations of each of the parties in any of the property of either of them, wherever and whenever acquired or located.
This type of agreement is recognized and enforced in most, but not in all States. It must be in writing and signed by both parties.
A marital settlement agreement or prenuptial agreement can help you avoid costly litigation, protect your family and/or business assets, and be sure that the marital property will be disposed of properly in case of death or divorce.
The document below is a Prenuptial Agreement sample that can be used by previously married individuals, or by persons who have never been married.
PROPERTY SETTLEMENT - PRENUPTIAL AGREEMENT
WHEREAS, we were married on the ___________ day of _____________________, _______, in _________________________, State of _________________________, and now we both desire to dissolve our marriage and agree to permanently live separate and apart from each other, as if we were single, according to the terms of this agreement. We mutually agree not to annoy, harass, or interfere with the other in any manner.
WHEREAS, we each have exercised good faith and have made fair, accurate, and complete disclosure to each other regarding all financial and property matters pertaining to this marital settlement agreement.
WHEREAS, we mutually desire to settle by agreement all matters regarding our marital affairs, personal and real property, finances, spousal support and maintenance, and (if applicable) all issues relating to our children, including child support, custody and visitation.
WHEREAS, we mutually intend this agreement to be a final disposition regarding the marital issues addressed herein and intend that this agreement be incorporated into any subsequent FINAL JUDGEMENT OF DISSOLUTION OF MARRIAGE .
THEREFORE, in consideration of our mutual promises, we agree divide our property and finances according to the following mutually agreed upon terms and conditions:
DEBTS (Secured and Unsecured, Credit Cards, Student Loans, etc...)
Husband and Wife jointly hold the following outstanding debts that shall be divided as follows:
Husband assumes responsibility and agrees to pay the following debts:
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Account Number)
_______________________________________________(Account Balance)
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Account Number)
_______________________________________________(Account Balance)
Wife assumes responsibility and agrees to pay the following debts:
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Account Number)
_______________________________________________(Account Balance)
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Account Number)
_______________________________________________(Account Balance)
TAX LIABILITY Husband agree to assume the following tax liability: _____________________
Wife agree to assume the following tax liability: ______________________
ASSETS (Bank and Credit Union Checking and Savings Accounts, Certificate of Deposits, Stocks, Bonds, Mutual Funds, IRAs, Pensions, 401k Plans, Keoghs, Partnerships, Other Business)
Husband and Wife jointly hold the following accounts that shall be divided as follows:
Husband assumes responsibility for the following accounts:
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Account Number)
_______________________________________________(Account Balance)
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Account Number)
_______________________________________________(Account Balance)
Wife assumes responsibility for the following accounts:
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Account Number)
_______________________________________________(Account Balance)
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Account Number)
_______________________________________________(Account Balance)
AUTOMOBILES, BOATS, TRAILERS
The following automobiles owned jointly by Husband and Wife shall be divided as follows:
To Husband:
____________________________________________________________________
____________________________________________________________________
To Wife:
____________________________________________________________________
____________________________________________________________________
PERSONAL PROPERTY (Household furnishings, tools, appliances, equipment, art, collections, antiques)
The following personal property owned jointly by Husband and Wife shall be divided as follows:
To Husband:
____________________________________________________________________
____________________________________________________________________
To Wife:
____________________________________________________________________
____________________________________________________________________
REAL ESTATE
The following real state property or properties owned jointly by Husband and Wife shall be divided as follows:
Husband shall have the rights of title and ownership and be responsible for and pay the expenses regarding:
1 - Real property located at:
____________________________________________________________________
____________________________________________________________________
2 - Real property located at:
____________________________________________________________________
____________________________________________________________________
Wife shall have the rights of title and ownership and be responsible for and pay the expenses regarding:
1 - Real property located at:
____________________________________________________________________
____________________________________________________________________
2 - Real property located at:
____________________________________________________________________
____________________________________________________________________
Except as otherwise provided in this Prenuptial Agreement, Husband and Wife may dispose of his or her property in any way, and each party hereby waives and relinquishes any and all rights to share in the property or the estate of the other as a result of marriage, joint tenancy, cohabitation, or any other relationship.
Husband shall reside at:
____________________________________________________________________
____________________________________________________________________
Wife shall reside at:
____________________________________________________________________
____________________________________________________________________
FAMILY RESIDENCE EXPENSES
Husband shall be responsible for and pay the following expenses regarding the family residence located at:
____________________________________________________________________
____________________________________________________________________
[check one or more:]
____Mortgage
____Expenses
____Maintenance
Wife shall be responsible for and pay the following expenses regarding the family residence located at:
____________________________________________________________________
____________________________________________________________________
[check one or more:]
____Mortgage
____Expenses
____Maintenance
LIFE INSURANCE
Husband agrees that Wife (check one:) _________shall, or _________shall not remain the beneficiary of the following life insurance policies:
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Insurance Policy Number)
_______________________________________________(Insurance Policy Amount)
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Insurance Policy Number)
_______________________________________________(Insurance Policy Amount)
Wife agrees that Husband [check one:] _________shall, or _________shall not remain the beneficiary of the following life insurance policies:
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Insurance Policy Number)
_______________________________________________(Insurance Policy Amount)
____________________________________________________________________
____________________________________________________________________
(Name and Address of Institution)
_______________________________________________(Insurance Policy Number)
_______________________________________________(Insurance Policy Amount)
LEGAL NAME
Husband and Wife agree that upon final dissolution of the marriage, Wife shall have the right to: [check one:] ___retain her married name
or
___return to her maiden or former name: _________________________________(Wife's maiden name).
SPOUSAL SUPPORT
1- Husband shall pay to Wife spousal support in the sum of _____________________________ dollars ($______), _________________________ [Weekly/Monthly], beginning on the ____________ day of __________________, 20 ____. Husband shall continue to pay this sum for a period of ________________________, subject to the following mutually agreed upon conditions:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
2- Wife shall pay to Husband spousal support in the sum of _____________________________ dollars ($______), _________________________ [Weekly/Monthly], beginning on the ____________ day of __________________, 20 ____. Husband shall continue to pay this sum for a period of ________________________, subject to the following mutually agreed upon conditions:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
This settlement of martial property and finances supersedes all prior discussions between said Husband and Wife. Any amendment or modification of this agreement will NOT be effective unless in writing and signed by both parties.
Any waiver of any rights under this agreement, will NOT be effective unless in writing and signed by the party to be charged.
ACKNOWLEDGEMENT
We, husband and wife, acknowledge that each of us has entered into this prenuptial agreement in good faith, without any duress or undue influence, and honestly disclosed to the other the extend of our income, assets, and financial situation.
We fully understand our rights and consider the terms of this agreement to be fair and reasonable. We each understand that we have the right to seek independent counsel regarding this agreement, and each has had the opportunity to seek independent counsel prior to signing this prenuptial agreement.
CHOICE OF LAW
Husband and Wife agree that this Marital Settlement/Prenuptial Agreement shall be governed by the laws of the State of __________and shall remain in effect until expressly terminated in writing by mutual agreement of the parties.
Signed and dated this __________ day of _______________________, 20_____.
________________________________
Husband's Signature
________________________________
1 - Witness for Husband
________________________________
2 - Witness for Husband
________________________________
Wife's Signature
________________________________
1 - Witness for Wife
________________________________
2 - Witness for Wife
NOTARY PUBLIC
STATE OF _______________________
COUNTY OF _____________________
This document was acknowledged before me on _______________ [Date] by ________________________________________________ [name of principal].
_______________________________Notary Seal:
(Signature of Notarial Officer)
Notary Public for the State of _______________
My commission expires: __________________
Sample Mortgage Hardship Letter
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