No matter a person’s financial situation, they may wish to enter into a marital agreement that protects their interests. Prenuptial and postnuptial contracts can address critical issues that may arise during a separation or divorce.
For couples with high net worth or high-value assets, entering into a marital agreement with a spouse can give them peace of mind and offer an additional layer of protection.
An Owings Mills marital agreement lawyer could assist in negotiating, drafting, and reviewing pre or postnuptial arrangements. When considering a contract, it is vital to partner with a hardworking family attorney who could advise clients about their rights and help them make informed decisions. Schedule an initial consultation with our steadfast legal team at Nguyen Roche Sutton to learn more.
Unless couples agree otherwise, Maryland courts can determine how marital property is distributed in a divorce. This is particularly problematic for those with high-value assets, as marital property includes anything acquired by a couple during their marriage. To avoid equitable distribution, spouses can mutually enter into a marital agreement.
For example, a prenuptial contract can dictate that premarital assets are not subject to distribution in divorce; meanwhile, a postnuptial can protect an asset acquired during the marriage that the spouses do not want to have included in their marital estate.
Both prenuptial and postnuptial arrangements are enforced according to the provisions of contract law in Maryland. This means couples who wish to work around the default equitable distribution can do so through a legally binding agreement. However, it is crucial to note that courts will not enforce clauses that preclude child custody to one parent or waive their right to child support.
A diligent lawyer in Owings Mills could provide crucial assistance during the negotiation phase of a marital contract by helping their client understand what is at stake.
When entering a marital contract, spouses need to recognize their legal rights and how the ordinary divorce process typically plays out. A reliable attorney could draft a prenuptial or postnuptial agreement according to their client’s wishes.
In addition, couples may want to establish a protocol for spousal support in the event of a divorce. A marital agreement lawyer in Owings Mills could advise spouses of necessary safeguards they should include to ensure their children are also protected.
Similarly, if a couple chooses to separate, trusted legal counsel could ensure the terms of a prenuptial or postnuptial contract are upheld in court. The cost of litigating these issues can add up quickly, especially for spouses with significant marital estates. Establishing a mechanism for dividing property and other possible disputes could save time and money.
The idea of a divorce is something many couples do not want to imagine. However, planning ahead can help to avoid lengthy and drawn-out legal battles over assets.
Divorce proceedings can be unpredictable, especially considering Maryland’s equitable distribution principle. A marital contract could give spouses a sense of certainty and even strengthen their marriage.
Having legal representation throughout this process could secure a client’s financial future in the case of a separation. Get in touch with an Owings Mills marital agreements lawyer today to determine what steps you should take next.
