Under this prenuptial agreement, “Separate Property,” also referred to as “Non-Marital Property” or “Separate Estate,” encompasses various types of assets owned by one party prior to the marriage or acquired under specific conditions. The key aspects of Separate Property include:
Assets List: Any assets detailed in attached Exhibits “A” and “B” are considered Separate Property.
Acquisition Types:
Retirement Plans: Benefits and accounts accrued before marriage in retirement plans remain Separate Property, subject to specific documentation and agreement compliance.
Income and Property Acquisitions: Income or property acquired by a party’s effort, either before or after marriage, which is not commingled with the other party’s assets, is deemed Separate Property.
Marital Property refers to assets acquired during the marriage and includes:
Jointly Titled Assets: Property acquired during the marriage, titled in both parties’ names.
Contributions and Transfers: Utilization of income or Separate Property to jointly acquire or title property. Appreciation of such jointly held assets is also considered Marital Property.
Division upon Separation: In legal separations or marriage dissolutions, Marital Property is typically divided equally between the parties.
Non-Transmutation of Separate Property: Contributions to Separate Property from Marital funds are considered gifts unless specified otherwise through legal documentation or objection.
Protection of Separate Property: Any post-separation contributions to Separate Property are subject to reimbursement to the Marital Estate, ensuring the Separate Property’s integrity.
Income Post-Marriage: Income earned after marriage is presumed to be Marital unless stipulated otherwise in the agreement.
Retirement Contributions: Post-marriage contributions to retirement accounts are treated as Separate Property if not commingled.
Under this prenuptial agreement, “Separate Property,” also referred to as “Non-Marital Property” or “Separate Estate,” encompasses various types of assets owned by one party prior to the marriage or acquired under specific conditions. The key aspects of Separate Property include:
Assets List: Any assets detailed in attached Exhibits “A” and “B” are considered Separate Property.
Acquisition Types:
Retirement Plans: Benefits and accounts accrued before marriage in retirement plans remain Separate Property, subject to specific documentation and agreement compliance.
Income and Property Acquisitions: Income or property acquired by a party’s effort, either before or after marriage, which is not commingled with the other party’s assets, is deemed Separate Property.
Marital Property refers to assets acquired during the marriage and includes:
Jointly Titled Assets: Property acquired during the marriage, titled in both parties’ names.
Contributions and Transfers: Utilization of income or Separate Property to jointly acquire or title property. Appreciation of such jointly held assets is also considered Marital Property.
Division upon Separation: In legal separations or marriage dissolutions, Marital Property is typically divided equally between the parties.
Non-Transmutation of Separate Property: Contributions to Separate Property from Marital funds are considered gifts unless specified otherwise through legal documentation or objection.
Protection of Separate Property: Any post-separation contributions to Separate Property are subject to reimbursement to the Marital Estate, ensuring the Separate Property’s integrity.
Income Post-Marriage: Income earned after marriage is presumed to be Marital unless stipulated otherwise in the agreement.
Retirement Contributions: Post-marriage contributions to retirement accounts are treated as Separate Property if not commingled.