12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

What You Can and Cannot Do With a Pre-Nuptial Agreement in Zip Code 02576

What You Can and Cannot Do With a Pre-Nuptial Agreement in Zip Code 02576


The greatest marriages are built on teamwork. A mutual respect, a healthy dose of admiration, and a never-ending portion of love and grace.
 
- Fawn Weaver


A prenuptial agreement (or "prenup") is a legally binding contract created by two people before they marry, addressing such issues as the property bought into the marriage by each person and what the financial settlement and property rights of each will be should they divorce.

Couples can spell out the financial responsibilities of each should there be a divorce, they can articulate specific expectations of each during the marriage (and remedies should these commitments not be met).

Marriage is a serious business and all couples should consider a prenuptial agreement and a strong understanding of the laws of their state pertaining to divorce. The agreement is commonly used by people with substantial assets, potential inheritance, high income or children from prior marriage.

Before signing a prenup, you should have a clear understanding of its purpose and what it can or cannot do on your behalf.

What is allowed in a Prenuptial Agreement:

• Identify who gets what in a divorce. Prenuptial agreement can be use to set the rules for property distribution thus preventing disagreement during a divorce. Without this document, the state law will be the one to determine how the property will be allocated upon your divorce. Getting or not getting alimony can also be stated in the prenup but a lot of states do not allow agreements regarding alimony.

• Separate finances.When a couple is married, all the property they have accumulated during the course of their marriage is considered marital or community property even if these assets aretitled in one spouse's name. When one of them dies or they divorce, these properties will be equally divided through agreement or a court order. The best way to avoid having the court decide all property settlements in death or divorce is to spell it out in a prenuptial agreement.


• Determine property distribution at the death of one spouse. A prenup can be used to waive your inheritance rights and declare your intentions of forgoing certain property rights at the death of a spouse. In addition to a prenup this should be spelled out in estate planning documents that can actually transfer your property as planned. This includes making a will, a Living Trust and other estate planning documents.

• Debt protection.One or both spouses may bring substantial debt to a marriage. Creditors may turn to the marital or community property to settle the liability of one spouse. Having a prenup can limit the liability for each others' debts.

• Provide for children from prior marriage.You may wish to make sure that children from previous marriages have a share in the property you own. Having a prenup can protect the children's rights and prevent one spouse from claiming the other's property if one of them dies.

• Keep property in the family. A prenup can include property (e.g. family heirloom or share in the family business) that you want to keep within your birth family, as long as it is agreed upon by both of you. Even a future inheritance can remain in the family through a prenup.

• Clarify responsibilities during the marriage. Other uses for a prenuptial agreement can be stated in terms of marriage responsibilities like:

• Income tax returns, whether joint or separate filing

• Who will pay the household bills and the funding source for these obligations

• Whether to have a joint bank account and who will manage it

• Agreements regarding specific purchases

• How to handle credit cards

• Agreement on setting aside money for savings

• Agreements regarding education

• Agreement regarding the provisions for the surviving spouse just in case the other one passes away.

• How to settle disagreements in the future

What is not allowed in a Prenuptial Agreement:

• Restrictions on child support, custody or visitation rights. Lawmakers regard the welfare of children to be a matter of public policy. They won't enforce any private agreement that can impair the child's right for a future relationship with a parent

• Give up the rights to alimony. This is a separate maintenance or spousal support whenever a divorce occurs. Some states do not allow the giving up of the rights for alimony.

• Encourage divorce. Prenups should not be use as a sort of financial incentive for divorce to one party. When this is the case, it will be set aside.

• Create rules about non-financial matters. This refers to the issues that is not related to property or financial matters like:

• Chores in the house

• Use of last name after marriage

• Agreements regarding children

• How to communicate to in-laws or stepchildren

• Agreements regarding pets and its care

You may use prenups for financial purposes, but not for nonmonetary agreements. If you want to make clear the responsibilities with regards to the non-monetary concerns, you may list it down on a separate document that can clarify your wishes and intentions rather than include it as part of a prenuptial agreement.

 
Personalize & Print a Free MA Premarital Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Related Legal Services near Zip Code 02576
Glynn Thomas M
114 W Foster St
Melrose, MA 02176
(781) 665-9955
Attorneys
Ventola Julie A
114 W Foster St
Melrose, MA 02176
(781) 662-9944
Attorneys
Robert A Marra Law Offices
100 Ames Pond Dr
Tewksbury, MA 01876
(978) 640-9910
Attorneys, General Practice Attorneys
Piazza Paul E
345 Boston Post Rd Ste E
Sudbury, MA 01776
(978) 440-9797
General Practice Attorneys, Attorneys, Legal Service Plans
Lucarelli Eugene
22 Mill St # 408
Arlington, MA 02476
(781) 646-9770
Attorneys
Leone David A
53 Irving St
Arlington, MA 02476
(781) 643-9700
Attorneys
Hays David W
521 Peakham Rd
Sudbury, MA 01776
(978) 440-9671
Attorneys, Legal Service Plans
Troy Paul M
1 W Foster St # 2
Melrose, MA 02176
(781) 665-9600
Attorneys
ITP & Assoc
2500 Main St
Tewksbury, MA 01876
(978) 988-9600
General Practice Attorneys, Attorneys
Ceruolo David
403 Franklin St
Melrose, MA 02176
(781) 662-9200
Attorneys
Appl'd synergy
92 Rogers St.
Tewksbury, MA 01876
(978) 677-9182
Communication Consultants, Restaurant Referral Service, Small Business Attorneys, Direct Marketing S
Shanley Patrick Law Office
1501 Main St
Tewksbury, MA 01876
(978) 851-8800
Attorneys, Legal Service Plans, General Practice Attorneys
Dolan & Dolan Attys
2 Avenue B
Turners Falls, MA 01376
(413) 863-8493
Attorneys, General Practice Attorneys
Erb Kevin J
20 W Emerson St
Melrose, MA 02176
(781) 662-8400
Attorneys
Fitzgerald Barry C
441 Main St
Melrose, MA 02176
(877) 665-8389
Attorneys
Foster Charles F
1445 Main St
Tewksbury, MA 01876
(978) 851-8300
General Practice Attorneys, Attorneys, Legal Service Plans
Mahnken Mark F
49 Myrtle St
Melrose, MA 02176
(781) 662-8224
Attorneys
Cutelis James A
1147 Main St
Tewksbury, MA 01876
(978) 851-8200
Attorneys, Legal Service Plans
Frederick Cefalo
340 Main St
Melrose, MA 02176
(781) 662-8102
General Practice Attorneys, Attorneys
Lanza Mark J
11 Meadow Dr
Sudbury, MA 01776
(978) 440-8007
Attorneys, Legal Service Plans
Grande III Stephen E
60 Union Ave
Sudbury, MA 01776
(978) 443-7881
General Practice Attorneys, Attorneys, Legal Service Plans
Hoffman & Hoffman
10 Concord Rd
Sudbury, MA 01776
(978) 443-7663
General Practice Attorneys, Attorneys
Kramer Michael M
3 Axdell Rd
Sudbury, MA 01776
(978) 443-7577
Attorneys, Legal Service Plans
Liebman Kenneth R
370 Boston Post Rd
Sudbury, MA 01776
(978) 218-7205
Criminal Law Attorneys,  Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Business Law Attorne
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US