When most people think about prenuptial agreements, they tend to picture wealthy, elite couples. After all, that is how the media regularly portrays prenuptials. However, prenuptial agreements can be right for just about any duo about to walk down the aisle. If a couple is planning a wedding, working with an attorney to create a prenuptial agreement is a smart way to plan for the future.
What is a Prenuptial Agreement?
Often referred to as a “prenup,” a prenuptial agreement is a contract between two parties. A prenuptial draft can outline many different things, such as what each person brings into the marriage and which items belong to each partner.
Generally speaking, well-written and solidly constructed prenuptials eliminate confusion about property division. Maryland does not necessarily divide property equally, making prenups helpful. Prenuptial arrangements also answer the question of who is responsible for debts.
What is Covered in a Prenuptial Agreement?
Several topics tend to pop up in prenuptials. The first is the assets and liabilities that spouses bring to the marriage. These can include anything from savings account amounts to inheritances, as well as student loans or credit card debts. The prenuptial agreement outlines how these assets or debts will be treated if divorce occurs.
A second subject discussed in most prenups is property. If someone has inherited an heirloom, such as a piece of furniture or jewelry, that person usually wants to keep the heirloom in the event of a divorce. Instead of battling over the heirloom during the divorce, the heirloom can be assigned by the prenup to the owner.
Finally, prenups usually touch upon alimony, especially if one party brings quite a bit of wealth to the union. The prenup protects that person from an unfair division of the wealth during divorce.
Are Prenups Always Enforceable?
If a prenup is laid out in a fair manner, it will probably be upheld in court; however, there are exceptions. Prenups that involve unborn children are not enforceable in terms of child custody and child support. Also, a prenup can be overturned if one party can prove that they were coerced into signing the document. This proof would need to be substantiated.
Why Might Someone Not Want a Prenup?
Many people who have entered into prenups agree that they are mostly positive. After all, they allow a couple to start off a marriage by communicating freely and openly.
Prenups also take any worry off the table in the event of a divorce. Plus, they can even ensure that a divorce will be less costly because so many considerations have already been taken care of upfront.
The major downside to a prenup is that it requires partners to talk about something they cannot picture, which is wanting to live apart. This can be challenging. Yet, with the help from a compassionate and knowledgeable divorce lawyer, the experience can be uplifting rather than worrisome.
Baltimore County Divorce Lawyers at Huesman, Jones & Miles, LLC Help Clients Draft Binding Prenuptial Agreements to Protect Their Futures
Although it may be difficult to discuss, constructing a prenup might be a wise decision. If you are considering a prenup or even divorce, talk to one of our respected Baltimore County divorce lawyers at Huesman, Jones & Miles, LLC. Contact us online or call us at 443-589-0150 for a free consultation. Located in Hunt Valley and Towson, Maryland, we serve clients throughout Baltimore, Baltimore County, Bel Air, Bentley Springs, Columbia, Freeland, Hereford, Hampton, Westminster, Essex, Monkton, Sparks Glencoe, Parkton, Phoenix, Pikesville, White Hall, Carroll County, Harford County, and Howard County.