A prenuptial agreement, also called an antenuptial agreement, is a contract entered into between two people contemplating marriage in an effort to clearly define property rights and other matters in the event of a future separation or divorce. While a prenuptial agreement may be beneficial for anyone contemplating marriage, these agreements are especially common with individuals who have been married before, who have accumulated assets prior to the marriage, have an ownership interest in a business or have children from a prior marriage.
This type of agreement can be used to protect the financial assets each partner brings to the relationship and how assets accumulated during the marriage will be treated upon divorce. In addition, a prenuptial agreement can specify alimony rights, whether it be a waiver of the right to claim alimony, or setting forth in detail when and how much a spouse will receive in alimony upon a divorce. Prenuptial agreements can also protect the inheritance rights of your descendants from a prior relationship. A prenuptial agreement may also set the tone for how financial decisions are to be made in the marriage, an issue that may be best resolved before marriage. A prenuptial agreement cannot, however, determine custody and child support rights. Because the negotiation of prenuptial agreement requires couples to discuss and agree upon matters of significance to both parties, they enable couples to start their marriage with open and honest understandings, often strengthening a marriage.
If a marriage ends in divorce, a carefully negotiated prenuptial agreement can reduce the financial and emotional cost often associated with the divorce process and prevent litigation. We can guide you through the delicate process of negotiating the prenuptial agreement with your soon to be spouse. We are skilled in the drafting and review of prenuptial agreements. We have a strong working knowledge of the complex law governing prenuptial agreements in Maryland, which enables us to assist you in the preparation of a comprehensive, enforceable agreement.