Pre Marital Agreements commonly called “Prenups” are often thought of as something only wealthy people create to protect their property in case of divorce. But not only wealthy Maryland couples can benefit from a prenuptial agreement. A premarital agreement can be used by any couple to determine the rules of the game for their:
Prenuptial agreements carry a number of common misconceptions. Not the least of which is that they increase the probability of divorce. But according to a Fox News Magazine survey of 105 mental health professionals, 86 percent agree that it has no predictable impact on the likelihood of an eventual divorce.
The need for a prenuptial agreement does generally rise with greater assets and wealth at stake. Maryland is a community property state, so everything either spouse earns or obtains during the marriage, other than gifts or inheritances, belongs to both you and your spouse. If you own a business, plan to own a business, or have potential to earn a high salary in the future, a prenuptial agreement could minimize the impact of a potential divorce on your financial well-being.
More importantly, a prenuptial agreement can be utilized to decide which rules will apply before the marriage begins, so that each spouse will know what to expect instead of getting blindsided by Maryland’s Family Law later on.
“Prenups” can eliminate a great deal of unnecessary stress in the event of a breakdown in a marriage. But an improperly drafted prenup that does not meet the criteria mandated by Maryland law can create more trouble than it resolves. I can provide you with a prenup that delivers what you intend it to, and that meets the standard of Maryland law.