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Marital Agreements
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Thomas E. Simmons
Terri Lee Williams
The use of marital agreements has increased dramatically in the last twenty years. Marital agreements are especially useful for spouses entering their second or subsequent marriages as a means to protect their assets for children of a prior marriage. Marital agreements are also helpful in first marriages. When a marital agreement is executed prior to marriage, it is referred to a "prenuptial agreement" while if the agreement is executed after the marriage, the term "postnuptial agreement" is commonly utilized.

A marital agreement is useful in planning what will happen in the event of divorce or death. In order to understand what a marital agreement can - and cannot - accomplish, it is necessary to understand certain legal rights of each spouse. There can also be specific issues to deal with in a marital agreement, depending on the circumstances of the spouse. Often there will be items such as collectibles, heirlooms, or treasured furniture, which one spouse wants to be sure he or she retains over the years. Provisions for pets are not uncommon. The way in which the parties wish to deal with debts can be set forth in the agreement as well.

The potential range of property rights can be set forth in a marital agreement is very broad. These agreements permit couples to carry out their mutual objectives and strengthen their marriage as a result.
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Rapid City, SD 57701

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Phone ( 605) 342-1078 . Fax (605) 342-9503 . Gunderson, Palmer, Nelson, & Ashmore, LLP
440 Mt. Rushmore Road . Rapid City, SD 57701
Attorneys licensed to practice in South Dakota, North Dakota, Nebraska, Wyoming, Minnesota, Montana, Colorado,
as well as Rosebud Sioux, Oglala Sioux, Lower Brule Sioux & Cheyenne River Sioux Tribal Courts.