What are Prenuptial Agreements?

Prenuptial agreements (or "prenups") are not just for the wealthy, but can benefit anyone preparing to enter into a marriage. Prenups can be used to set out what will happen to your property when you die so separate property can go to any children you may have from a previous marriage. Otherwise, a surviving spouse may be entitled to the property to do with it as they wish.

Usually, prenups contain a list of all the property each spouse owns including debts and lays out what each spouse's property rights will be following a divorce.

A pre-marital agreement in a prenup can also help to avoid disputes in the event of a divorce later on. In this case, a prenup can specify how property will be divided and whether or not one spouse will be receiving alimony.

In addition, prenups can be used to protect one spouse from another's debts.

The Effect of Not Having a Prenuptial Agreement

Couples who refrain from making a prenup, the state may determine which one of you becomes the owner of property you have acquired during the marriage. The state can even choose what to do with property purchased before the marriage.

Spouses without a prenup who divorce may be entitled to:

  • Ownership of marital property
  • Take on debt during the marriage that the other spouse may have to pay for afterwards
  • A share in the ownership of any marital property, even to sell it or give it away

A viable prenup will be written in clear and understandable language and legally legitimate. It is highly recommended that you both have an attorney look over any prenup so you can ensure your rights are upheld.

Flanagan & Associates understands how to best handle putting a prenup together before entering into a marriage. Our Quincy family law attorney can help you draft a legally sound prenup that protects your rights. Give us a call to learn more!