WHAT PROVISIONS ARE TYPICALLY INCLUDED IN MARITAL
a. My premarriage property is mine and will remain so free of any
ownership claim of my new spouse. The spouse owning the property
will continue to have full control over that property during life
and at divorce (if any) and is free to select the beneficiaries
of the property at death; the other spouse (and his or her respective
estate or successors) waives any claim to that property.
b. I may make gifts to my spouse during my life
or at death as I choose. The clients are permitted to make life
time, or at-death, gifts to each other and to establish joint
tenancy account(s) with their spouse to share mutual living expenses,
etc.; at the death of one spouse the joint account usually automatically
passes to the survivor of them; if there is a divorce or dissolution,
the parties agree to split the account in half. It is also common
that the spouse who owns the home in which both spouses are living
will grant a life (or similar) estate to the non-owning surviving
spouse--this may also include the right to use the first deceased
spouse's furnishings; sometimes the surviving spouse is required
to pay expenses to maintain the house during the time he or she
is living there; when the surviving spouse's right to live in
the house ends, the property is distributed to the first deceased
spouse's family pursuant to his or her will or trust.
c. Any increases in the value of each spouse's
separate property will remain that spouse's separate property.
d. Community property--For retired spouses, the
spouses usually agree that community property will continue to
belong to each spouse in equal shares; for income earning spouses,
the spouse's may agree to waive equal community property right
e. Full disclosure of assets and liabilities--Each
spouse must make full disclosure of his/her assets and liabilities
and must attach them to the agreement.