PRENUPTIAL AGREEMENTS
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Prenuptial Agreement Lawyer
A prenuptial agreement is a contract entered into by a couple prior to their wedding. Its central purpose is to addresses property division in the event of divorce. Prenuptial agreements are common when parties are in very different financial positions going into their marriage. Although not very romantic, having this honest financial discussion with each other and a prenuptial agreement lawyer prior to a wedding ceremony can be a very positive experience.
Having a prenuptial agreement does not mean that you and your spouse are anticipating a divorce before the marriage has even started. Instead, it allows you and your spouse to take an honest look at your respective finances and put financial expectations on the table before your wedding.
Benefits of a Prenuptial Agreement
A prenup will allow you and your future spouse to make decisions about what will happen to your finances in the case of divorce, rather than allowing the state you live in to make that decision. Prenups are created during a time that you and your spouse are committed to love, teamwork, and doing what’s best for the other person in the couple, rather than figuring everything out during a highly contested divorce.
Issues Commonly Addressed in Prenuptial Agreements
- Division of property and assets acquired before and after the marriage
- Spousal support (or alimony)
- Inheritance rights
Topics That Cannot Be Addressed in Prenuptial Agreements:
- Child support
- Child custody and visitation
Such provisions are considered contrary to public policy and will not be enforced by the Court.
Growing Popularity
Prenups are shedding their stigma and becoming increasingly popular among Americans, especially millennials. Prenups set expectations for a division of assets and finances in the event of divorce. They may not be romantic to bring up, but most couples will benefit from having one.
Protect Your Rights
It is crucial for each party to be represented by separate counsel during the negotiation and drafting of creating a prenuptial agreement. To create a fair and legally enforceable prenuptial agreement, each party must disclose all their assets. Since there is no specific family law statute in Maryland regarding prenuptial agreements, they are governed by contract law.
If you are considering using a prenuptial agreement lawyer, it is best to speak with an experienced Maryland attorney who can protect your rights and work with you in achieving a positive outcome.
