Annapolis Prenuptial agreement is a contract that guides how your divorce will proceed in the event that your marriage does end in divorce. Also, a prenuptial agreement establishes how your estate will be divided in the event you die while you are married. A prenuptial agreement is not a blueprint for divorce. Therefore, it in no way increases the risk that your marriage will end in divorce.
The fact is that divorce is a very real risk when couples marry. Putting some thought into the terms of your divorce prior to needing them may help you ward off any such need. If your marriage does end in divorce, a valid prenuptial agreement can take a considerable amount of stress out of the equation. Are you considering a prenuptial agreement? or have been asked to sign one. Turn to the skilled legal guidance of an Annapolis Divorce attorney.
There are specific terms of a potential divorce that you can address – and that are commonly addressed – in a prenuptial agreement.
If you stand to inherit a considerable amount of money or anything else of value in the future. Addressing this future inheritance in a prenuptial agreement is well advised. Maryland employs an equitable distribution system when it comes to the division of your marital property in a divorce. This means that your marital assets will be divided between you and your ex-spouse fairly.
An inheritance in your name alone is generally considered separate property. Any commingling of assets can alter this characterization. Including a specific term in your prenuptial agreement can help you bypass this concern.
There is another inheritance concern you can take into consideration in a prenuptial agreement. If you marry and already have children who were born from another relationship, there is a matter of your children’s inheritance to consider. A solid prenuptial agreement can help to ensure that your separate assets are distributed to your children fairly. In the event of your death, an agreement can help to ensure your last wishes. The wishes are upheld in relation to the distribution of your share of marital property. A prenuptial agreement is something you should give careful consideration to.
If you have been contributing to a retirement account, you are likely invested in maintaining its separate nature in the event of divorce. The value of your retirement account prior to marriage will very likely be considered your separate property. So, any increase in its value over the course of your marriage will be considered marital. If you and your soon-to-be spouse each have your own retirement accounts, you may want to stipulate that each of you will retain your own in the event of divorce.
Owning a business is an aspect of divorce that universally complicates matters. If you bring a business into your marriage with you, keep the asset separate. Separating the asset throughout the course of your marriage can be challenging at best. An Annapolis prenuptial agreement can help guide your way.
Some of the specific terms of prenuptial agreements that are commonly addressed in the State of Maryland include:
There are certain factors that can call the validity of your prenuptial agreement into question, including:
When prenuptial agreements are created in good faith, they are generally enforceable. This is critical to ensure you have the protection that you believe the agreement provides heading into a divorce.
Divorce terms that relate directly to your children – other than their inheritance – cannot be addressed in your prenuptial agreement. This is because, whenever a term of divorce relates to children, courts make determinations in accordance with the best interests of those children at the time. In other words, there are certain terms that cannot be addressed ahead of time.
When courts address the matter of child custody arrangements, they take a wide range of best-interest factors into consideration, and these cannot be accurately assessed prior to the fact. Such factors include:
While child custody modifications are a possibility post-divorce, child custody arrangements are never determined prior to divorce, which means they cannot be addressed in prenuptial agreements.
Because child support also directly affects your children’s well-being, it is a divorce term that cannot be included in your prenuptial agreement. Child support is calculated according to state guidelines that apply at the time it is determined and, therefore, it cannot be calculated ahead of time. The only exception is if the child support terms included in your prenuptial agreement exceed the state’s requirements, such as if your prenuptial agreement includes terms related to your children’s college education or if the amount and duration of your child support terms exceed Maryland’s mandates.
If you have concerns about whether or not you need a prenuptial agreement or have been asked to sign a prenuptial agreement, Patrick Crawford at the Law Office of Patrick Crawford – proudly serving Annapolis – is a prenuptial agreement attorney who is standing by to help. Our dedicated legal team is committed to skillfully advocating for prenuptial terms that uphold your legal rights and best interests – while supporting your marriage from the outset.
To learn more about what we can do to help you, please do not wait to contact or call us at (410) 216-7905 today.