Posted on December 19, 2014 in Marital Agreements

There is an assumption by many that premarital agreements, more commonly known as prenuptial agreements, are only necessary for the extremely wealthy, to preserve a inheritance, or for second marriages. This is not accurate. Especially with the new guideline maintenance laws coming into effect, premarital agreements are extremely important to protect against high maintenance (also known as alimony or spousal support) awards that could end up prejudicing the payor.

For example, starting in January 2015, if a court determines that an award of alimony is appropriate in your case, a husband or wife earning under $250,000 dollars per year could be liable for maintenance to their soon to be ex-spouse for 15 years or more. You could be liable for permanent maintenance. If your spouse does not work, you may end up paying them as much as 40% of your income. This is where a premarital agreement can protect you.

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