Prenuptial agreements are often a sensitive topic for couples that are ready to get married. However, there are many benefits to prenuptial agreements that a couple should consider prior to marriage. If you wish to learn more about filing a prenuptial agreement prior to your marriage, you should consult with an experienced Baltimore prenuptial agreement attorney as soon as possible.
The Law Offices of Randolph Rice possess extensive experience handling a broad range of family law issues, and we are here to help you draft a prenuptial agreement that meets your needs and the needs of your spouse. We understand that it can be difficult to have a conversation with your spouse about the benefits of a prenuptial agreement, and we are here to alleviate your concern. To schedule a free legal consultation to discuss your prenuptial agreement, contact the Law Offices of Randolph Rice at (410) 694-7291. You may also reach the firm online to schedule your free consultation.
What is the Purpose of a Prenuptial Agreement in Baltimore, MD?
A prenuptial agreement is a legal contract between future spouses. There is often a misconception that a prenuptial agreement is reserved for couples with high assets. However, prenuptial agreements can be utilized by couples for a variety of reasons. For example, having a prenuptial agreement in place will make it easier to separate in the event of a divorce.
Prior to a marriage, a couple can draft a prenuptial agreement that can address the following issues:
- Ownership of property acquired before the marriage or during the marriage
- Interests in a business owned by a spouse before the marriage
- Inheritance rights for children, especially children from a previous marriage
- Access to alimony in the event of a divorce
This is not an exhaustive list. There may be other uses for prenuptial agreements that may vary depending upon the specific needs of you and your spouse.
It is also important to note that there are some limitations to drafting a prenuptial agreement:
- A prenuptial agreement cannot be used to address child custody or child support
- A couple cannot make a contract for the purpose of divorcing later
- Prenuptial agreements cannot be used as a promise to marry unless one partner is pregnant
If you are unsure whether a prenuptial agreement is right for you and your partner, you should contact an experienced attorney that can further outline the benefits of a prenuptial agreement. To learn more about drafting a prenuptial agreement in Maryland, you should continue reading and speak with an experienced Baltimore prenuptial agreement attorney today.
Executing a Prenuptial Agreement in Baltimore, MD
If you and your partner determine that you would like to draft a prenuptial agreement prior to getting married, there are a number of factors that you should consider to ensure your agreement is executed properly.
Retain a Family Law Attorney
When considering a prenuptial agreement, it would be wise for each spouse to have legal representation that will solely consider their interests. If only one partner retains an attorney, that attorney will be unable to balance the interests of each spouse. Even if you and your partner draft your own prenuptial agreement, it would be wise to have an experienced family law attorney go over the terms of the contract.
Another reason to seek the assistance of a family law attorney is to avoid the possibility of a partner attempting to invalidate the prenuptial agreement on the basis that it was an unconscionable contract. An unconscionable contract is one where only one party has all of the bargaining power. For example, if only one partner was extremely wealthy and retained a firm to draft a prenuptial agreement, the partner without an attorney may feel that they were forced into the agreement.
Disclose All Assets
It is also necessary for partners to disclose all assets they have when drafting a prenuptial agreement. If one partner or both partners are hiding assets from each other, it could cause a number of legal problems. For example, if a partner is hiding assets abroad, there is a possibility that a court may invalidate the prenuptial agreement entirely. As a result, each spouse will be unprotected, and their assets could be intermingled with marital property, which could be distributed in the event of a divorce.
Disclosing all assets will make it easier for partners to determine what property should continue to be personally owned.
Ensure Agreement is Signed by Each Spouse
An important part of drafting a valid prenuptial agreement is ensuring that the agreement is signed by each spouse. An agreement that is not signed cannot be enforced against the party that did not sign it.
If you need assistance with drafting your prenuptial agreement, the legal team at the Law Offices of Randolph Rice is here for you. We can get started on drafting a prenuptial agreement that meets the needs of you and your future spouse.
Speak with Our Experienced Baltimore Prenuptial Agreement Lawyer Today About Protecting Your Assets
If you or a family member requires legal assistance to execute a prenuptial agreement, you should contact an experienced Baltimore prenuptial agreement lawyer today. The skilled legal team at the Law Offices of Randolph Rice is here to provide you with the legal representation that you need when drafting a prenuptial agreement. To schedule a free legal consultation to discuss your potential lawsuit, contact our Maryland family law attorneys at The Law Offices of Randolph Rice at (410) 694-7291. Our firm can also be reached online.