Prenuptial Agreements Help Alleviate Disputes
Although traditionally considered exclusive to high-asset marriages, antenuptial agreements have developed and grown into a useful and beneficial tool for many legal unions. A premarital agreement can help strengthen your relationship by providing reasonable terms that protect both parties and allow both of you to begin your marriage with peace of mind.
A prenup will help you discuss and decide how to divide property and debts and provide asset protection in the event of a divorce, death or separation. It can also be used to make reasonable provisions with regard to family inheritance, business interests, retirement accounts, children from outside the marriage and other matters often overlooked when planning for matrimony. Full financial disclosure is merely one benefit among many of a prenuptial agreement.
Call our Boston office at 617-380-7643 to speak with an attorney about whether a prenup is right for you.
Same-Sex Prenuptial Agreements
Massachusetts was the first jurisdiction in the United States to legally recognize same-sex marriages, and our law firm has been committed to helping LGBT couples with their legal family matters. We are interested in helping you secure rights previously available only to heterosexual couples. One way to establish these rights is through a prenuptial agreement.
Like prenuptial agreements for heterosexual couples, LGBT premarital agreements can be used to address complicated legal questions that are unique to your statutory situation. An antenuptial agreement can also secure your rights by addressing issues such as the legal status of the father, child custody and support, property and retirement.
The Purpose Of Prenuptial Agreements
The purpose of a prenup is to protect property rights and make the divorce process go more smoothly. It allows couples to make some advanced divorce decisions and seal them in a contract. If they decide to get divorced, they can refer to the prenuptial agreement to address the division of property and other financial matters.
What A Prenuptial Agreement Protects
A premarital agreement can be used to protect financial assets and valuable items. For instance, it can preserve a person’s business or inheritance. It can distinguish certain items as separate property, meaning they need not be divided during property division, even if they otherwise would. It can sometimes be used to waive alimony.
It should be noted that a prenup cannot address issues such as child custody rights or child support obligations. These things must be addressed during the event of divorce, with courts typically making decisions that serve the best interests of the child, effectively excluding child-related matters from a valid prenuptial agreement.
How To Have A Conversation About Creating A Prenup
The most important thing is to have it in advance. Drafting a prenup close to the wedding can make it invalid. Additionally, be calm and understanding when broaching this topic. Try to highlight that there can be benefits for both people. Also, note that having a prenup does not make divorce more likely. In some cases, it can make a marriage stronger because it requires having important conversations about financial issues before getting married.
How Common Are Prenuptial Agreements?
They are becoming more and more common. According to some reports, they were used in only 3% of marriages in 2010. However, 12 years later, another poll found they were used in 15% of marriages. Younger couples seem to embrace prenuptial agreements and postnuptial agreements in a way that older generations often do not.
Process For Creating A Prenup
Creating a prenup typically starts with the fair disclosure of personal property and other assets, followed by the drafting of the document, which should detail separate property and marital property. Both parties should review and consider the document carefully, and then sign the agreement willingly and without duress or being under the influence. The next step is filing the prenup.
Independent counsel and an understanding of both parties’ financial rights can help ensure the document is structured fairly and is enforceable.
Secure Your Rights
Every individual in a couple deserves to secure their rights and protect both their own and the future spouse’s interests. A prenuptial agreement does not have to be a large investment. As a small firm, we are able to provide you with distinctive personal service while being mindful of your pocketbook. Furthermore, we can meet you in our Boston offices or travel to Cambridge or elsewhere in Middlesex County to meet you closer to where you work or live. Strengthen your bonds by contacting our firm to discuss with one of our lawyers how a prenuptial agreement could help you.