Understanding Prenuptial Agreements in Maine: Protecting Your Future Prenuptial agreements, often called "prenups," are contracts entered into by two individuals before they marry. In Maine, a valid prenuptial agreement can significantly impact the division of assets and spousal support in the event of a divorce or death. They are increasingly common and not just for the wealthy; anyone entering a marriage with significant assets, prior business interests, or wanting to protect future inheritances should seriously consider one. 🤔 What is a Prenuptial Agreement? At its core, a prenuptial agreement is a legally binding contract. It outlines how assets and debts will be divided, and whether spousal support (alimony) will be paid if the marriage ends. Maine law, specifically the Maine Uniform Premarital Agreement Act (MUPAA), governs these agreements, providing a framework for their creation and enforcement. Key considerations include fairness, full disclos...
Practical Legal Guide with Expert Advice