Prenups can be valuable in the event of death or divorce

Who in Massachusetts needs a prenuptial agreement? Is it only the old or well-to-do? Not necessarily. Prenups can be an effective way for spouses of any age and financial status to protect their interests should their marriage not last or should they pass away. They may not be romantic, but they are practical.

First of all, a prenup can protect not only a spouse, but also that spouse's children from another marriage. Clauses can be included stating that the children from a previous marriage will receive certain assets if their parent passes away or divorces the second spouse.

Second, it is part of reality these days that not every marriage will last. When it comes to divorce, without a prenup already in place, couples could spend a significant amount of time and money in lengthy negotiations deciding how to divide their assets. A prenup can contain clauses designating who is to get what should the couple divorce. This can make the property division process, and the divorce itself, run more smoothly.

Prenups can even address debts. Not only can they contain provisions stating who will take on what debt if the couple divorces, but they can also contain provisions stating that, should one spouse die, the other spouse will not be responsible for debts the deceased carried prior to getting married.

In the end, couples getting ready to walk down the aisle may want to first consider working with an attorney to draft a prenup. A prenup can protect their interests and those of their children in the event of death or divorce. While it may be the case that a couple will enjoy a long and happy marriage, this is not the case for every marriage. For those who have a prenup, should they divorce, they may find the entire process is less of a headache, as many important decisions have already been made.

Source: Your Tango, "3 Reasons You Might Need A Prenup (Even If You're Not Old And Rich)," Kevin J. Chroman, Esq., Nov. 2, 2017

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