Baltimore & Towson Lawyer Discusses Preparing Your Prenuptial Agreement
Many couples considering marriage do not like the thought of having a prenuptial agreement in place (or “prenup” as it’s commonly referred to). However, divorce lawyers in Towson and elsewhere throughout the country will tell you that prenups can actually be very helpful documents, as they typically provide protection and clarity in the event something leads to the demise of the marriage.
If you are wondering whether a prenuptial agreement is right for you and your soon-to-be spouse, there are a few things you should know and keep in mind as you make your final decision.
What Maryland Allows
The state of Maryland allows couples to have prenups that will permit them to reach agreements prior to marriage with respect to certain aspects of the marriage, such as support and the division of property, should they separate or divorce. Additionally, the state permits couples to agree to certain rights and obligations with respect to a spouse’s death.
A person living in Maryland should give serious consideration to having a prenuptial agreement if he or she has considerable assets and/or property; a business or any portion thereof; your family has a business from which you enjoy benefits or funds either through working for the business or by way of inheritance; or you earn more money than your fiancé.
You may also want to consider having a prenup if you anticipate receiving a large inheritance or your fiancé carries huge amounts of debt.
What Can You Do to Ensure the Agreement is Enforceable?
There are a number of steps you can take to make sure your prenup is enforceable should the need for it arise. First and foremost, you should sign the agreement long before your wedding day. This is because the more in advance the document is signed, the more difficult it will be for your spouse to argue that he or she was forced to sign it or placed under some sort of duress to enter into the agreement.
Additionally, you and your soon-to-be spouse should have a frank discussion about each others financial situation prior to entering into a prenuptial agreement. As personal as it may seem, it is a very important discussion to have and it should be dealt with truthfully and fully. The discussion should focus on each other’s incomes, debts, assets and potential inheritances in the future. It may also be helpful to include language in the document that notes your discussion and even lists your assets and income.
Lastly, each party is encouraged to have legal representation prior to entering into and negotiating a prenup. You should have separate attorneys who will represent your interests as you negotiate. The agreement can clearly state that each of you were represented at the time of the agreement and confirm that you entered into the prenup voluntarily and without coercion.
While we know that many couples find even the thought of a prenup to be offensive, having the above-mentioned provisions in place can help ensure your interests are protected in the long run. If you would like to learn whether a prenup is right for you and your spouse-to-be, contact the Law Offices of Amar S. Weisman, LLC.
Call (410) 321-4994 For a Free Consultation
Call The Law Offices of Amar S. Weisman at (410) 321-4994 to schedule a Free Consultation. The Purpose of the consultation is to determine whether you want to retain this law firm as your Baltimore County & Harford County Family Lawyer. If you do wish to proceed, then you must pay a retainer. See Our Policy on Fees and Costs. The family firm is located next to The Circuit Court for Baltimore County, at 1018 Dulaney Valley Road, Towson, MD 21204.