A pre-marriage agreement, also called a prenuptial agreement or a prenup, is a legal contract that is signed between two people who marry each other. This agreement includes pointers like the finances, assets, and responsibilities that will be managed during the marriage and if a divorce happens.
Since Massachusetts has many renowned law firms, especially in Boston, you can get in touch with one of the lawyers in the state.
However, any divorce attorney Boston, MA, or any other state offers should do the job of getting the premarital agreement for you.
But before that, understand how actually the prenups work and help below.
How do prenups/premarital agreements help you?
Here are a few examples of how prenups or premarital agreements help you:
1. Protecting Assets
One of the main reasons why people choose to sign a premarital agreement, or prenup, is because they wish to protect their individual assets. With the help of a legal prenup, each partner can keep their assets separately and make sure that they are not divided even if the marriage is ending.
The assets that can be separated in a prenup include property, family, heirlooms, business interests, or even investments.
2. Clarifying financial responsibilities
Couples can also outline things like the responsibility of managing finances during the marriage. The details can include the responsibility of handling debts, loans, or credit card balances.
Having a Prenup prevents arguments over who is going to pay the bills during the marriage. Understanding financial roles and managing money becomes more manageable when these kinds of responsibilities are discussed in marriage.
3. Limiting spousal support
If a couple ever gets a divorce, a prenup helps in setting limits on spouse support, which is also known as alimony. It can be decided in advance. If one of the partners will receive alimony or if they can waive it entirely.
This decision can also help in preventing the link. The court fights over financial support after divorce. However, the rules related to alimony change in some states as they have specific rules when it comes to prenups. Hence, it is crucial to review these laws when signing up for a prenup.
4. Protecting the inheritance of children
If the soon-to-be-married couple has children from previous relationships, a premarital agreement can help protect the children’s inheritance. By signing some assets in the name of the children, it can be made sure that these assets are not included in the marriage.
Protecting the children’s inheritance can be achieved with the help of prenups, regardless of what happens in the marriage. Plus, it prevents conflicts when questions arise later on over the children’s assets.
Read also: Criminal Law Firm in Sydney, NSW: How to Choose the Right One
5. Simplifying divorce proceedings
When a couple has a prenup ready, the proceedings of the divorce become smoother and quicker. It saves time in settling the issues of property division and the responsibility of debts more quickly. This means that since the terms are already set, the couple can avoid investing their time in lengthy court battles.
Prenups simplify divorce proceedings, reduce stress, save time, and lower the costs associated with divorce.
6. Providing peace of mind
Getting a premarital agreement signed provides peace of mind to both the parties involved. It gives a sense of relief, knowing that both partners agree on their financial matters, and also offers more security about their future.
So, even if the couple never separates in the future, the premarital agreement can help build trust with each other.
It also allows the couple to have more open conversations about their financial condition and their responsibilities when it involves money. This way, both partners can start their married life with confidence, knowing that they have everything planned legally on paper.
Final Thoughts!
A prenup or premarital agreement is a valuable document that helps protect the future of your assets for yourself, your partner, or your children. Any local lawyer can help you sign a prenup without much hassle.
