When a Massachusetts couple is planning their wedding, romance is in the air. Typically, much planning takes place for a beautiful, meaningful ceremony often followed by a celebration with family and friends. However, since divorce is relatively common, couples would be wise to also consider a prenuptial agreement in their marriage planning process.
Some people still attach stigma to the idea of a prenuptial agreement, fearing judgment from others, or even that the document will cast bad luck on their marriage before it has even begun. Nevertheless, more and more couples are opting to prepare these practical documents designed to clearly stipulate the terms regarding finances and property division in the event the marriage ends in divorce. Without a prenup, the property division is determined according to individual state laws, and either party may not end up with the results he or she really wants. A valid prenup, on the other hand, will serve as a substitute for state laws and will help to ensure each party is satisfied with the outcome.
A financial expert offers several situations in which such a document would be helpful. If there is an imbalance in assets between people — for example, an inheritance on one side — a prenup can ensure that each party leaves the marriage with what is rightfully his or hers. By the same token, if one person owns a business he or she began prior to the marriage, a prenup is a smart move. As well, when one person has a high debt load, the other person will want to avoid responsibility for those premarital debts.
Although everyone entering marriage wants to think they will never part ways with their spouse, unfortunately, the reality indicates many end up doing just that. Divorce is never a pleasant situation, but to help the process run more smoothly in the event the marriage does dissolve, Massachusetts couples can be prepared. A family law attorney can help a client achieve a fair and comprehensive divorce settlement.