Let's face the facts: prenuptial agreements are not romantic. That's because these legal documents represent a what-if scenario in which you and your soon-to-be spouse don't stand the test of time and eventually end your marriage. Oftentimes, prenuptial agreements stand in stark juxtaposition to the happiness a majority of couples feel after getting engaged.
But as we have said before on this blog, prenuptial agreements can be incredibly helpful documents to many couples across Maryland. Not only do they make property distribution easier, thereby decreasing stress levels and emotions, they also shorten the divorce process, thereby keeping overall expenses down.
So while you might not like the idea of a prenuptial agreement, it's important to remember that these marital agreements can be beneficial. But is such an agreement right for you? To answer this question for yourself, you'll first need to consider these questions:
- Is this your first marriage?
- Do you have a considerable amount of assets already in your possession?
- Do you own property?
- Is your income more than $100,000 a year?
- Would you come to the marriage with debt?
- Do you own a business?
If you answered yes to any of these questions, then you may want to consider talking to a lawyer about drafting a prenuptial agreement. That's because all of the elements above can complicate your assets, making them far more difficult to divide during divorce proceedings. By having a lawyer help you establish personal property ahead of time in a prenuptial agreement, you can eliminate a lot of the contentions that can arise if the worst should happen.
Source: FindLaw, "How to Determine if a Prenuptial Agreement is Right for You," Accessed July 21, 2015