Common use of DISSOLUTION OF MARRIAGE Clause in Contracts

DISSOLUTION OF MARRIAGE. Each party to this Agreement understands that the Uniform Premarital Agreement Act and court decisions provide for consideration of a premarital agreement by the divorce court if a marriage is dissolved. The parties to this Agreement understand that some courts have disregarded property division provisions in a premarital agreement. Without in any way anticipating a dissolution or planning for a dissolution, but recognizing the realities of the world, it is the express intention of Husband-to-be and Wife-to-be that the following provisions shall prevail in the event of a dissolution: a. Each party shall have an equal interest in all property acquired by either party during the course of the marriage (except property that is merely the result of an increase in the value of property owned separately by the parties prior to the marriage, as listed on the attached schedules). b. All savings, investments, retirement accounts, and all property listed on the attached schedules as separate property (owned by a party prior to the marriage) shall remain the separate property of that party who brought such property into the marriage, including any appreciation, income, or other increase to such property. c. All joint property and accounts shall be divided equally. d. The parties shall have joint custody of any children born to or adopted into the marriage. Such joint custody entitles each party to equal visitation time, or time which is otherwise fair and equitable.