Just How Do Prenuptial and Postnuptial Agreements Work in Maryland?
Some people have negative feelings towards prenuptial and postnuptial agreements, making even their mere discussion a sour point. But both prenuptial and postnuptial agreements have serious advantages that can benefit both partners. As someone who has worked with countless Owings Mills, MD couples over the years, we wanted to take some time today to talk about why a prenuptial or postnuptial agreement may benefit your relationship.
What Exactly is a Prenuptial or Postnuptial Agreement?
A prenuptial agreement also referred to as a “prenup”, is essentially a contract entered into by a couple who have not yet married. A postnuptial agreement works similarly, except it is entered into after the couple has already been married. Both types of agreement deal with a variety of matters, largely based around establishing clear individual ownership of assets and how joint assets will be divided.
Should We Get a Prenuptial or Postnuptial Agreement?
Firstly, it’s advisable that any Owings Mills, MD couple gets at least one of these agreements, though it’s usually best to enter into a prenuptial agreement. Postnuptial agreements can become more difficult because there usually are far more joint assets, though this doesn’t mean that if you’re already married it’s too late to sort out your assets. Many people don’t like to talk about these agreements because they feel it implies an inevitable separation, but in reality, they provide insurance.
Who Should Get a Prenuptial Agreement?
Prenuptial agreements are for any couple who has individual assets they’d like to protect in the event of death or divorce. For example, people who have any pre-marital assets, own their own businesses, have children from previous relationships, or anyone who has specific plans for their assets in the future. Prenuptial agreements can also benefit those whose significant others have accrued large amounts of debt.
Work with a Professional Owings Mills, MD Prenuptial and Postnuptial Lawyer
Here at ZM Law Group, we’ve been providing our attorney services to Owings Mills and surrounding areas of Maryland for years, and we’d like to do so for many more. If you’re interested in learning more about prenuptial or postnuptial agreements, or have any legal questions for that matter, give us a call.
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