Getting married is an exciting step, but there are things you may want to consider before walking down the aisle, such as drafting a prenuptial agreement. While this type of contract cannot divorce-proof your marriage, it can give you confidence regarding the future. This can be a smart step for anyone regardless of income or wealth.
A prenuptial agreement allows you and your spouse to outline how the property division process will work in case of a divorce. It can also allow you to do other things that will protect your long-term interests. Before you marry, it could be in your interests to learn about the specific things you can accomplish with a prenuptial agreement and consider whether it could be a smart step for you.
What can it do?
People often assume that a prenuptial agreement is only for the rich and famous, but that is not true. Maryland couples of all income levels can benefit from the protections provided by these agreements. There are a lot of misconceptions about prenups, and you may not understand the various things you can accomplish by drafting one. Consider the following about these agreements:
- It’s important that prenups be fair for both parties. In the event of a dispute in the future, unfair terms could result in a judge ruling some or all of it invalid.
- Both parties must fully disclose their assets in order for the terms of the prenuptial agreement to be fair.
- This agreement can also address the financial responsibilities of each spouse during the marriage as well as spousal support in case of a divorce.
- It’s prudent to think long term when drafting a prenuptial agreement. What makes sense now may not make sense in the future.
There are limits to the things you can include in your prenuptial agreement. One thing you cannot do with a prenuptial agreement is include terms that pertain to child custody or child support.
Experienced guidance is key
Drafting a prenuptial agreement that stands the test of time starts by seeking the support and guidance of an experienced family law attorney. An evaluation of your case can help you see how a prenup could be beneficial for you and what terms you should include. With an agreement in place, you can look forward to your married life together with confidence.