We all hope our marriages last forever. But statistically, that is unlikely. A prenuptial agreement is an essential tool that can help you protect your assets, and if done correctly, also help steer a broken marriage toward a quickly settled divorce.
We are prenuptial lawyers in Rockville, Maryland. Here are some helpful things to consider when exploring a prenuptial agreement.
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What Does a Prenuptial Agreement Do?
A prenuptial agreement is a contract, basically, between two people who are about to get married. In Maryland, they are called “antenuptial agreements.” In the movies prenuptial agreements are shown as a tool for a rich man to screw his future wife out of money. While that may have been the predominant role of a prenup in years past, times have changed.
A prenuptial agreement is a way for parties to consider how they would like to end their marriage should it become necessary. Couples are far more realistic about their chances of success. A prenup allows couples to agree on things like splitting property, alimony, and inheritance rights in creative ways.
We make money from divorces at Seddiq Law, but we don’t want people to waste their cash fighting over things not worth fighting over. When a relationship ends, a couple should focus on wrapping up the relationship as quickly and as fairly as possible.
Don’t waste your 77.43 years of life expectancy. Let us help you draft a thoughtful prenuptial agreement. If you’re interested, you can complete this email form, and one of us will call you within 10 minutes.
What Issues Can a Rockville Prenuptial Lawyer Address in your prenup?
A prenup covers several key topics. The point of covering these topics is not necessarily to strong-arm your spouse, but it is to come to a common understanding of the value each party brings to a marriage.
Alimony.
Alimony is just another word for spousal support. Maryland law has three types of alimony: pendente lite, rehabilitative, and indefinite. The judge has a final say in alimony, but if your alimony provision in the prenuptial agreement is fair and thought out, you have a good chance of saving yourself a big headache if you do end up getting divorced.
Debt Division.
Settling debt division in a prenuptial agreement is smart. The parties can assess the relative value of their wealth and decide on the best and fairest way to split their property upon divorce. Through various life circumstances, some spouses bring a lot of debt into a relationship. A prenuptial agreement can structure debt division in a way to prevent one spouse from being resentful of the other.
Gifts.
Gifts can be part of marital property during a divorce, but not always. Carefully crafting how gifts will be handled in a divorce will ensure that neither side ends up spending their fortune on expensive lawyer fees and litigation.
Inheritance.
If you stay together long enough, there is a chance that one spouse will inherit some money. It is not always clear how that inheritance should be handled in a divorce. If both parties agree on how inheritance should be handled during a divorce, then both sides can avoid a lot of costly days in court.
Property Division.
This is extremely important. Property division, outside of deciding custody, is the most significant stress and cost factor in a divorce. We’ve seen people fight over couches, pets, houses, you name it. If you only handle one thing in your prenuptial agreement, this is the area to focus on. When a marriage has gone bad, you do not want to spend years fighting over coat hangers.
How to Manage Money During the Marriage.
Prenups can also provide practical guidance for marital behavior during the marriage. The couple can agree on specific rough guidelines on how money will be spent and who pays for what. Prenuptial agreements seem grim because drafting one assumes that the couple will eventually get divorced. But that’s not always the case. A carefully crafted prenuptial agreement can help add years to a marriage.
Marital Home.
A marriage can grow organically. People assume different roles. Some are more “breadwinners,” and others manage the family and home. If there are children in the house, deciding who will get the marital home on the front end can save a lot of trauma for all involved. Continuity is key.
Want to learn some basics about divorce in Maryland? You can read our post here.
How do Maryland Courts Handle Prenups?
You may feel cocky and confident that you drafted a prenuptial agreement that gives you everything and your spouse-to-be nothing. But that can be a false sense of security.
To have any confidence in the validity of your prenuptial agreement, you need to use a lawyer who knows Maryland divorce law. As your Rockville prenuptial attorney, we can guide you through a strong prenuptial agreement that has a good chance of holding up in court.
Every year, Maryland courts issue new cases that address the nuances of Maryland prenuptial law. To illustrate the complexity of the analysis, we invite you to read McGeehan v. McGeehan, 455 Md. 265 (2017).
If you’re not convinced yet, we’re also appellate lawyers with over 45 years of legal experience. Sometimes, you draft a prenuptial agreement, and the divorce judge gives you a decision you think is not fair. Not only can we represent you during your divorce, but we can also appeal it.
We have a simple online contact form here. If you complete it, either Mirriam or Justin will give you a call within ten minutes. Talk to you soon.