Steps To Take Regarding Prenuptial Agreements
Getting a prenuptial agreement may not be the most romantic decision you ever make, however, it might be one of the best financial ones. If you are in the process of planning a wedding, you may want to consider signing a prenuptial agreement with your soon to be spouse. No one likes to contemplate the idea of divorce as they are preparing for their wedding, however, many people enter into prenuptial agreements to ensure that their assets are protected if a dreaded divorce ever does happen. If you are considering a prenup agreement, there are specific ways to ensure that your rights are protected within this legally binding agreement.
Decide As Soon As Possible
You do not need to bring the paperwork out immediately after someone accepts a proposal. However, the sooner you make a decision regarding a prenup agreement, the better. While you may be excited to start your wedding planning, if you wait until after the planning is fully underway, you may run into some significant legal issues. If you have purchased a dress, or sent out invitations, a legal argument could be made that the prenup agreement was somehow entered into by one party under some sort of duress or coercion. It is best to sign a prenup agreement as soon as possible.
Disclose Everything Honestly
Truth is the basis of every good marriage. It is best to start yours off with full disclosures regarding everything about your life, including finances. You need to be honest and upfront with your fiance regarding any finances you currently have, or any possible future assets or inheritances you expect to receive. If you hide any of your financial assets in any way, it may make your prenup agreement invalid.
A prenup agreement can be a bit of an uncomfortable topic, and does remove a bit of the romantic glow of a proposal. However, it is important to note that you should not expect to gain 100% from a prenup, but rather it is part of the beginning of a lifetime of giving and taking. You should not include any controlling, frivolous, disrespectful or absurd clauses in the prenup agreement. If these types of clauses are included, even if the other party agrees, a judge could declare it invalid. Some examples of things not to include in a prenup agreement would be any clause related to child custody, child support, non-financial requirements (such as a spouse must dress a certain way, or always wear makeup) or any types of relationship terms (such as the requirement of a date night every other week.)
Maryland and Prenup Agreements
There are no specific legislative laws in the state of Maryland that address prenuptial agreements. Contract and case law will govern any prenuptial agreements made in Maryland. Either party can always challenge a prenup agreement later if there was any type of undue influence, incompetence, fraud, unconscionability, duress, mistake or coercion.
Contact an Experienced Family Law Attorney
If you are considering a prenup agreement, contact the experienced Prince Frederick family attorneys serving Southern Maryland at the offices at Meng Law at 410-535-5500 or online today.