Reasons Why You Need a Prenuptial Agreement
Many Maryland couples hesitate to discuss a prenuptial agreement before they are married. Whether you feel uncomfortable discussing divorce before getting married or you do not want to talk about money, you may be doing yourself a disservice if you shy away from talking about this sensitive topic. There are many reasons why a prenuptial agreement is critical and should not be overlooked.
Some Benefits of A Prenuptial Agreement
The main benefit of a prenuptial agreement is that it will make for a more orderly and less contentious divorce if the marriage ends. Both spouses will have some certainty as to how the marital estate will be divided. This is even more important when you are coming into the marriage with money or you plan on starting a business during the marriage. Without a prenuptial agreement, the property is subject to division in a way that the court sees fit.
A Prenuptial Agreement as A Way to Begin a Relationship
You may be one of the many people who are afraid of talking about money with a prospective spouse because it could lead to fights. However, a prenuptial agreement is a good way to begin the conversation about money expectations during the marriage. This becomes even more vital if you have large amounts in a 401(k) or a family inheritance that you would be bringing into the marriage. Without this agreement, all of these assets could be at risk in the event of a divorce.
A divorce attorney may help you with the process of negotiating a prenuptial agreement with your spouse. One of the issues that you would face is negotiating an agreement that could hold up if the other person challenged it in court. An attorney may help you construct a more durable agreement. At the same time, you would have the peace of mind that comes with knowing that you are protected in case the marriage does not survive.