The decision to get married can be a difficult one. Not only do the parties agree to love each other for years to come, but they also make a financial agreement to share assets. For many, this places them on uneasy footing, especially when divorce is common and so many stories of harsh property division disputes circulate. But those who want to protect their assets when entering a marriage can do so without fear and such marital agreements are becoming more common.
A new survey of the American Academy of Matrimonial Lawyers found that over the last three years 63 percent of divorce attorneys have seen an increase in prenuptial agreements. Additionally, 46 percent of those surveyed have seen an increase in prenuptial agreements initiated by women.
Other polls have found similar results, including a 2010 poll that found 44 percent of singles and 49 percent of divorced individuals thought a prenuptial agreement was a good idea. The same poll found 15 percent of those who are divorced regretted not having a prenuptial agreement. Some experts believe these numbers reflect the current state of the economy and individuals’ desires to protect separate property, obtain a Waiver of alimony, and specify property division.
Controversy revolves around prenuptial agreements as many feel it is planning for an unsuccessful marriage before the marriage even begins. But a Marital agreement can clearly delineate assets to keep property issues out of the marriage landscape. A prenuptial agreement can detail issues arising out of the appreciation of assets, identification of Existing property, Cash assets or antiques, Pensions and retirement plans, Waiver of alimony, and Business assets.
Prenuptial agreements are important documents to protect an individual’s assets and to prevent property disputes in the future, should such an occasion arise. However, these documents can be complex and require careful, detailed drafting to prevent loopholes and unwanted outcomes. A Massachusetts Family Law Attorney can sit with a client to discuss a Marital agreement and how it can be beneficial in his or her circumstance. Then, if the decision is made to go through with an agreement, the attorney can draft it in a way that can put an individual’s mind at ease and allow him or her to focus on his or her marriage and not his or her property.
Source: The Huffington Post, “Prenuptial Agreements Are on the Rise, And More Women Are Requesting Them,” Oct. 22, 2013