Although it's common to have a prenuptial agreement when one partner's net worth far exceeds the other's, a prenup can help every couple. Developing a draft of the document to take to your attorneys fosters necessary conversation on a sticky topic for couples - finances.
If you read our May 28 post entitled, "What can I expect in a Maryland divorce?" then you know that couples in our state who cannot establish grounds for the dissolution of their marriage must remain separated for 12 consecutive months before filing for divorce. During this period of separation, couples can decide things like how to separate marital property and even custody arrangements. But as some of our Columbia readers know, not every separation leads to divorce.
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.
If you're a regular reader of our blog posts then you know that we have touched several times on the topic of prenuptial agreements, particularly their usefulness when it comes to divorce. But while we may have answered a number of questions through these posts, we realize there is an important question we have not touched on yet and it happens to be the one we're asking in today's post title:
Divorce is complicated, even for couples who agree to amicably work together. Many couples assume that they do not make enough money or have enough valuable assets to justify a prenuptial agreement. However, this legal agreement can be beneficial for any Maryland couple in case of a divorce, and it could benefit couples in all economic circumstances.
Ask anyone about which is more expensive--a wedding or a divorce--more than likely, people will pick the latter of the two. That's generally because the average wedding nowadays, according to some experts, costs couples an average of $25,000 while an average divorce could cost you thousands more. But despite couples not wanting to spend enormous amounts of money on a divorce, sometimes it's a necessary burden, especially when assets become contested and neither sides wants to concede.