What is a marital property agreement?

A marital property agreement is a legally binding document that outlines how assets and debts should be divided upon divorce. It is a contract between two spouses that is enforceable in Washington state divorce court. By signing a marital property agreement, spouses can avoid potentially long and expensive litigation over the division of their property. Marital property agreements can cover all assets and debts, or only certain assets, such as the marital home. A marital property agreement should include information on who owns each item, how the item should be divided, and the value of the item. It should also include a plan for how debts should be divided. Marital property agreements are important to consider before divorcing because they can help to simplify the process and protect both spouses. If the agreement is properly written and approved in court, it can be a powerful legal tool for protecting the rights of both parties. If spouses choose not to have a marital property agreement, the court will handle the division of property instead, which can lead to lengthy proceedings and unpredictable results.

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What is a marital property agreement?

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