Prenuptial Agreements are Like Fire Insurance

 

Prenuptial Agreements can be delicate subjects, but they can help protect your interests when embarking on a marriage, where one party has significantly more assets than the other.

As family law attorneys we encounter many couples that do not see a divorce coming and feel hurt and blindsided by one partner who wants to divorce. Sometimes that is from unclear communications as to what a partner needs in a marriage, other times it is from couples who start to grow apart, or it is from a general breakdown in the marriage.

Very often a prenuptial agreement can help to establish guidelines as to what happens to the marital assets in the event of divorce. This clear contract can help clarify what happens to things like an inheritance, or funds set up in trusts for one of the spouses, alimony, and the financial terms for the dissolution of the marriage.

Prenuptial agreements are not a very romantic thing to bring up when a couple is thinking about getting married, but everyone needs to realize that marriage is a contract. If you spell out what is going to happen to your assets as well as any liabilities that you may have in advance, it aids parties if they decide to separate. This is good in one way because it allows the parties to enter a marriage with their eyes open.

A Prenuptial agreement is very enforceable here in Massachusetts. It spells out who is going to get what and when. The assets that one has coming into a marriage are protected. They are also protected if they are reallocated. The same is true of Inheritances which are also protected. A prenuptial agreement is used in event of a divorce not death. Only in event of divorce would the Prenuptial agreement be used. It is kind of like fire insurance you will probably never use it but in the event your house is on fire someday, it is good to have.

If you or someone you know is thinking about a prenuptial agreement and resides in Massachusetts, then please call Amaral & Associates, P.C. at (617) 539-1010 or visit us at www.Amarallaw.com for information about what your next steps should be and whether or not a prenuptial agreement is the best option for you.

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