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The many reasons for a prenuptial agreement

On Behalf of | Jan 21, 2020 | Divorce, Family Law |

Maryland couples have many things to do as part of their marriage planning process. If they have any assets in their name before the wedding, one of these things should include signing a prenuptial agreement. It can give them protection against losing part of their assets if the marriage does not last. Otherwise, what they have worked for may be at risk.

A prenuptial agreement is a virtual must for someone who comes into the marriage with their own business or if they have family money. The minute these assets mix with the marital estate, they become part of the estate itself. The agreement would specify how these assets are handled in the event of a divorce. A person could take them out of the marital estate or could award the other spouse a small percentage of them.

A prenuptial agreement could also help ensure that children are protected. For those who are getting married for the second time, they may have children from their first marriage who will need their inheritance. The prenuptial agreement could keep the entire estate from going to the second spouse and limit the portion that they would receive in a divorce. Otherwise, the children may find that the money they were counting on is gone or at risk. There is simply too much at stake to not have this conversation.

To start this process, a family law attorney would be the person to see. Here, it is not a paradox to use a divorce attorney to plan for a marriage because they would know how property would be divided in a settlement. The attorney might help with drafting and negotiating the agreement. The counsel of the attorney may keep the spouses from having to negotiate directly with each other during the process.


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