PRENUPTIAL AGREEMENTS
By Stuart H.
Grozbean
Believe it or not nearly 50 percent of all marriages end in divorce.
Most end in expensive legal battles that cost thousands of dollars in
legal fees, emotional distress and financial chaos.
Many couples deeply in love feel it is not romantic or gives a sense of
disloyalty if they tell their significant other about the need to enter
into a prenuptial agreement before marriage. The fact is when you step
back from your emotions-you are entering into a business partnership.
Each of you is going to be contributing, whether financial or otherwise
into this new partnership.
So the big question is whether you need a prenuptial agreement. Let's
first start with the couple just starting out. You both have jobs, no
money and great expectations. The answer is yes, because no one can
predict the future. One or both may and probably will change jobs for
the better. That means more money, assets, debts, and division of
property.
If you have a good paying job and starting to accumulate assets or been
previously married a prenuptial is a good idea so everyone knows if this
new partnership does not work there is some method to untangle the
financial web you have created during the marriage.
If you have children from a prior marriage a prenuptial is a good idea
to protect your assets so you can pass them on to your kids.
Remember courts look at an agreement as a contract and will uphold the
contract even if it may not be totally equal. The court will not
generally reinvent your agreement to save it. Both parties must make a
full disclosure of financial assets. A few states frown upon these type
of agreements even if written to conform to the laws of the state where
you were living when written. Even then it is better to have an
agreement because even those courts may well find your agreement valid
and fair.
You should both have the agreement reviewed by an attorney. It insures
that each of you understands the contract you are entering into and the
court is more likely to enforce an agreement where both parties had
legal representation.
A Maryland law firm also serving the District of Columbia and the
Nations. Our Maryland divorce attorneys understand the law to better
help you.
*Free consultation 30 minutes
by phone or in person.
To be determined by law firm.
301-738-5700
YOU SHOULD REMEMBER THE INFORMATION THAT YOU READ HERE IS GENERAL IN
NATURE AND NOT MEANT TO BE A SUBSTITUTE FOR SPECIFIC LEGAL ADVICE FROM
AN ATTORNEY.
*Note: Telephone Conversation / consultation does not create an attorney
client privilege and is only meant to provide general information. If
you intend to create an attorney client relationship and privileges you
must set an office appointment.