Massachusetts prenuptial agreements are made between two individuals who plan to marry. They can address many different issues and how each should be handled should the marriage between the two end. Here are some common topics that are covered in Massachusetts prenuptial agreements.
Division of Assets
Both individuals will enter the marriage with certain assets. Additional assets may also be acquired during the marriage. Prenuptial agreements typically cover how both types of properties should be handled/divided.
Handling of Debts
Similar to assets, each party may have existing debts plus new debts incurred during the marriage. Massachusetts prenuptial agreements may detail how each type of debt should be addressed. It is possible that debts may be assigned to a particular party, shared, or paid from common assets.
Prenuptial agreements can cover the topic of alimony. It can detail who may receive alimony, in what amount, and more. The terms can be quite complex and may specify terms based on the length of marriage and other factors. Alimony can also be waived entirely if so desired.
Support for Children
In cases where one or both parties have children from previous relationships, a prenuptial agreement may outline what type and amount of financial support these children may receive. It may also discuss distribution of any assets.
Another topic commonly covered in Massachusetts prenuptial agreements is life and/or health insurance. One spouse may rely on the other for insurance. Upon the end of a marriage, one party may be responsible for continuing to provide such coverage for a specific length of time.
Before Signing Massachusetts Prenuptial Agreements
The above are just a few examples of topics that may be covered in a prenuptial agreement. Before signing any legal document, it is important to get representation from an attorney. This is particularly true for Massachusetts prenuptial agreements as you may not realize the full scope of what you are agreeing to. Having representation is also important to the enforceability of a prenuptial agreement should it be later contested by either party. For a free consultation on this and other family law topics, contact us today.