- Where there is a significant pre-marriage disparity of assets or income between the parties;
- Where one party has a particular asset that he or she wishes to segregate and protect (ex: family business);
- Where one party has the possibility of accumulating significant assets, either by gift, inheritance, or individual endeavor; or
- For individuals entering into second marriages where each party has his or her own previously accumulated assets or there is a desire to keep an estate intact to pass on to children by a prior marriage.
PreNup Laws Massachusetts
Massachusetts law requires that certain standards be met in order to make a PreNuptial Agreement legal (ie. enforceable). First, the agreement must be fair and reasonable at the time of execution. Second, the agreement must be fair and reasonable at the time of entry of the judgment of divorce nisi. The couple must also make a full and truthful disclosure of their respective assets and liabilities to ensure that there is nothing withheld at the time the couple is married and later if and when they divorce. In order for an agreement to be deemed fair and reasonable and to ensure its enforcement if necessary, it is important to have the advice of an attorney to either assist with drafting or to review the agreement with you.
The PreNuptial Process
While a PreNuptial Agreement may not seem to be the most romantic of things to discuss with your soon-to-be spouse, it is a very practical process that protects both individuals before, during and after the marriage. Attorney Pennock has a lot of experience working with individuals to execute PreNuptial Agreements and is also sensitive to what can be a delicate situation to approach with your fiancée. If you are contemplating whether to begin the process of drafting a PreNuptial Agreement or if your fiancée has discussed the possibility of obtaining a PreNuptial Agreement, Attorney Pennock is happy to provide a free consultation and discuss the options available.