What is a marital property agreement?

A marital property agreement is a legal document that legally defines how assets (property) will be divided between two people who have decided to end their marriage. This agreement is typically written and signed by both parties prior to filing for divorce in Rhode Island and is used to identify and divide marital assets. Marital property includes any property and assets acquired by both spouses during the marriage. This includes, but is not limited to, real estate, businesses, income, investments, and personal effects such as furniture, jewelry, and vehicles. The marital property agreement will typically list out all of the marital assets, where they are located, and how they will be divided. The marital property agreement will also describe which expenses each party will be responsible for, such as mortgage and insurance payments, bills, and taxes. It will also outline any maintenance payments that one spouse may be required to pay to their former spouse. This agreement will remain in effect even after the divorce is finalized. It is important to understand that every divorce in Rhode Island is different. A marital property agreement tailored to each situation should be drafted by an experienced legal professional to ensure it is legally binding and to ensure that both parties are adequately provided for after the divorce.

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What is a marital property agreement?

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