A marriage agreement helps couples strengthen their bond by clarifying financial responsibilities and building a solid future together based on shared goals and values. It sets out how you and your partner will handle the assets and debts you own before marriage and those acquired throughout your union. It also spells out any financial responsibilities that arise from these assets and debts.

Creating a legally binding agreement can be tricky, but Neptune can help. We connect couples with trusted family attorneys who’ve mastered these types of agreements. Looking to get in touch with a lawyer to help craft a valid marriage agreement? Take this quiz to get started.

What Is a Marriage Agreement?

A marriage agreement is a legally recognized arrangement between two people in a romantic relationship. It is a broad term used to define financial terms and responsibilities related to assets owned before or during the union. The goal is to ensure that both partners are on the same page about their future together and what happens in the event of major life changes.

In some cases, these agreements spell out mutually agreed-upon provisions, provided they don’t invalidate the agreement.

Types of Marriage Agreements

Marriage agreements are not one-size-fits-all solutions. Instead, they come in different forms to suit various situations and needs. The most common types include:

Prenuptial Agreement (Prenup)

A prenup is an agreement you and your partner make before you exchange vows. This type of agreement describes how the premarital assets (property, stocks, bonds, etc.) you both bring into the marriage will be handled throughout your relationship as a married couple. 

Depending on what you both agree on, a prenup may also address assets you acquired during the marriage. In any case, you’ll both need to consult separate attorneys to help draft and negotiate the terms of your prenup.

Are you interested in learning more about a prenup and whether it might suit your situation with your partner? Take this quiz.

Postnuptial Agreement (Postnup)

With postnups, you and your partner typically enter the agreement after you’re legally married. The agreement outlines how you’ll manage your finances, property, and other important issues during specific life events.

A postnuptial agreement is similar to a prenup. The major difference is that it’s established after your wedding instead of before.

If you already have a prenup, can you enter into a postnuptial agreement after your wedding? Yes, you can. This is especially true if there are significant changes in your circumstances after marriage. In fact, a postnup can change or update some terms in your prenup as long as you both agree to the changes.

Some life changes that can make it necessary to update your prenup include:

• Significant changes in either of your financial circumstances
• Changes in your career
• Starting a family
• Relocating abroad
• Coming into an inheritance

If you’d like to get a postnup or want to learn more about them, click here.

Other Types of Marriage Agreements

Besides prenups and postnups, other agreements can support you and your partner during different stages of your relationship.

• Separation Agreements: These help you address your shared responsibilities and assets in a way that respects both your needs during a temporary or permanent separation. This agreement usually makes sense for couples who live separately but are still legally married.
• Marital Settlement Agreements: These agreements give couples clarity on how to handle financial matters if they decide to go their separate ways. With this agreement, partners can find a solution that they can both accept without getting the courts involved.‍
• Reconciliation Agreements: If you’re working through challenges together, these agreements allow you to outline the steps you both commit to taking to strengthen your relationship. Essentially, these agreements help partners to rebuild trust and move forward together.

Requirements of a Marriage Agreement

Marriage itself is a form of agreement between two people. If you’re about to say “I do,” you’re preparing to make a promise to your partner.

However, these agreements aren’t legally valid in most places unless they’re in writing. To be considered valid and legally binding, a marriage agreement needs to meet certain criteria:

• Written Form: It must be documented, not just a verbal promise.
• Signatures: Both parties must sign the agreement.
• Voluntary Agreement: The document must be signed willingly, without pressure or duress.
• Fair Terms: The agreement should not be heavily one-sided; otherwise, a court may reject it.
• Full Disclosure: Both parties must fully disclose their assets, debts, and financial situation.
• Legal Formalities: In some states, the agreement must be notarized or signed in front of witnesses.

Learn how to create ironclad marriage agreements here.

What Does a Marriage Agreement Cover?

Typically, marriage agreements cover how you and your significant other will handle assets and debts during your relationship. The agreements also describe what happens to your property, finances, and obligations if there are significant changes that affect your relationship.

Usually, these agreements include:

• Asset Management: How you’ll both handle premarital and marital assets.
• Financial Responsibilities: Outlines who is responsible for which debts or expenses
• Property Distribution: How property will be managed in the event of major life changes like death or if things don’t work out between you two.

What Marriage Agreements Don’t Cover

Although marriage agreements are comprehensive, they generally do not cover non-financial personal matters. For example, parents (whether married or not) cannot use a marriage agreement to opt out of providing financial support for their children.

Also, unless both parties agree otherwise in the agreement itself, it usually doesn’t address household chores, emotional support, or relationship dynamics beyond financial terms.

Ready to Get Started? Neptune Is Here for You

A marriage agreement is a powerful tool! It can help you and your partner create clear plans for your financial and personal lives together. It also gives you the opportunity to have an open and honest conversation with your partner about what you see for your future together. 

Whether you’re considering a prenup, postnup, or any other type of marital agreement, our concierge service at Neptune gives you access to highly qualified family law attorneys who specialize in crafting marriage agreements. They can guide you through this process effectively and make it less overwhelming. 

Chat with us today to start the conversation and build a solid foundation that addresses what you both need now and as you head into your future together.