The financial statement disclosure form is for use in connection with the premarital agreement and must be completed accurately and completely. Both parties are required to complete a separate financial statement and provide a copy of the statement to the other party.
Boston Massachusetts Financial Statements only in Connection with Prenuptial Premarital Agreement
State:
Massachusetts
City:
Boston
Control #:
MA-00590-D
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Prenuptial Agreements: The Massachusetts Legal Standard The terms in the agreement are legally binding and can be executed if the marriage ends in divorce. As noted above, Massachusetts law enforces prenuptial agreements if they are valid when executed and are conscionable at the time of divorce.
When it comes to monetary assets, a prenup can also protect the future earnings of one or both parties so they are not up for grabs during a divorce.
Dave Ramsey on Instagram: ?The only time I recommend a prenuptial agreement is in EXTREME money situations, and this one isn't.
Separate Debt with Prenup A prenup allows you to separate your debt from the debts of your spouse by ?waiving? the application of community property. Designation of separate debts will limit the creditors from collecting from the separate debtor. There will be no community debt.
Be a written contract?no verbal agreements. Have lawful terms within the prenup. Include the signatures from both parties. Must be signed voluntarily (can't involve coercion, duress, intimidation, or deceit)
Unconscionability Invalidates a Prenuptial Agreement One party signed the agreement involuntarily or not by choice. One party demonstrates that the other party did not divulge all relevant information. One party can prove he/she was not allowed access to an attorney before signing the prenup.
Are Prenups Enforceable? Prenuptial agreements, if drawn up and executed correctly, are legally binding and are usually upheld in court. One recent, high-profile case, however, has shown that prenups are not always ironclad.
A prenuptial agreement does not cover the following: Child custody or visitation matters. Child support. Alimony in the event of a divorce. Day-to-day household matters. Anything prohibited by the law.
The law does not allow a couple to include any terms regarding child custody, visitation or support in a prenuptial or postnuptial agreement. This is because a judge will make these decisions in a divorce case based on the child's best interests.
In order for a prenuptial agreement to be enforceable in Massachusetts, it must be fair and reasonable at two times of analysis: first, it must be fair and reasonable at the time it was signed before the marriage; second, it must be fair and reasonable at the time of divorce, when it is requested to be enforced.