An overview of prenuptial (also called "premarital") agreements.
What is a Prenuptial Agreement?
Prenuptial agreements, unlike cohabitation agreements, are entered into in anticipation of marriage. They are most often used to confront in advance the very possibility which marrying couples least like to consider -- the possibility of marriage ending in divorce. The prenuptial agreement may establish how the couple's property will be divided and how spousal support, if any, will be determined, if a divorce occurs. Some prenuptial agreements set the precise amount of spousal support in advance.
Why Have One?
For some couples, a prenuptial agreement makes good sense. Depending on the circumstances, a couple may find that a well-considered prenuptial agreement is essential for promoting peace of mind in contemplation of marriage and during marriage. Individuals embarking on a second marriage are often good candidates for a prenuptial agreement, particularly when they already have children. Whether previously married or not, when one or both individuals are entering marriage with substantial property or income, a prenuptial agreement may be desirable.
Are They Recognized in Massachusetts?
In Massachusetts, prenuptial agreements are legal and binding contracts, provided they meet certain standards the courts have established. Parties entering into a prenuptial agreement should each consult with independent legal counsel knowledgeable in this area of the law. Regardless of whether mediation is used to reach an agreement, independent legal advice is critical, in order for each party to protect his or her interests and in order to meet the standards for enforceability of the agreement. (Bear in mind ... if a party to a prenuptial agreement really does not want the agreement to be enforceable, he or she should not enter into it!)
Copyright © 2002-2009 Marion Lee Wasserman
The above article is provided for general informational purposes. This article is not intended to apply to any specific facts or circumstances and should not be construed or applied as legal advice or legal opinion or as establishing an attorney-client relationship.
