Those who have read stories of divorce or know someone who has gone through a divorce of his or her own may be afraid of tying the knot with their loved one. After hearing of divorce disputes arising out of property division and alimony, they may fear losing everything in the event the marriage goes south. Fortunately, those considering marriage can take legal action to put these frightening thoughts to rest.
A prenuptial agreement is a legal agreement between two parties before they marry and stipulates how certain divorce legal issues will be resolved, should dissolution occur. The document can identify and lay out how existing property will be divided, how pensions or retirement plans will be handled, and whether the parties agree to a waiver of alimony. Additionally, business assets, if they exist, can be identified and handled in a similar fashion.
Though these agreements are becoming more common and can help a couple move forward with their new life together, some view them as a sign of future divorce while others believe these agreements are meant only for the wealthy. This is not the case. Everyone has a life of their own before marriage, and a prenuptial agreement can help ensure that what was accumulated during that life is protected. Also, since a prenuptial agreement can deal with almost any divorce legal issue and varying amounts of assets, they are suitable for anyone preparing for marriage. One does not need to be a millionaire to consider protecting his or her financial future.
Those who find a prenuptial agreement may benefit them should speak with a qualified legal professional. A Massachusetts Family Law Attorney can sit with an individual and discuss his or her needs, wants and concerns. Then, a prenuptial agreement can be drafted to address those issues in a way that makes both parties comfortable, readying them for a happy marriage where their minds are at ease.
Source: The Alternative Press, “Why a Pre-Nuptial Agreement Makes Sense,” Kristen Houghton, Feb. 8, 2014