{"id":2136,"date":"2019-03-09T00:00:16","date_gmt":"2019-03-09T00:00:16","guid":{"rendered":"https:\/\/fdfamilylaw.wpenginepowered.com\/?p=2136"},"modified":"2023-04-26T16:20:30","modified_gmt":"2023-04-26T16:20:30","slug":"7-benefits-of-a-prenuptial-agreement","status":"publish","type":"post","link":"https:\/\/fdfamilylaw.com\/7-benefits-of-a-prenuptial-agreement\/","title":{"rendered":"7 Benefits of a Prenuptial Agreement"},"content":{"rendered":"<article>A prenuptial agreement, sometimes referred to as a \u201cprenup,\u201d is a contractual agreement that protects the parties from unanticipated and undesirable results, should the marriage end in a divorce.\u00a0 The benefits of a prenuptial agreement are many.\u00a0 In a perfect world, a couple entering into marriage will never need to dust off their prenuptial agreement and review the terms as part of a divorce.\u00a0 However, we don\u2019t live in a perfect world.\u00a0 There are any number of reasons couples decide to divorce.\u00a0 If this happens and the couple has a prenuptial agreement, the parties are protected.\u00a0 Whether you are a millennial entering a marriage with significant property or debt, or a person with adult children entering into a second marriage or a small business owner, there are benefits to prenuptial agreements.\n<h2>1. Protect Yourself from Your Spouse\u2019s Debt<\/h2>\n<p>When a couple divorces, the court considers all assets and all debts when dividing property.\u00a0 While you may regard your spouse\u2019s student loans as their personal responsibility, the court may not agree with you.\u00a0 To protect yourself from unexpectedly being saddled with debts your spouse incurred, you need a prenuptial agreement which carefully details who is responsible for what debts.<\/p>\n<h2>2. Prepare for the Worst While Hoping for the Best<\/h2>\n<p>Of course, very few people enter into marriage thinking the marriage will end badly.\u00a0 However, the sad truth is, marriages can end badly.\u00a0 Hammering out the details of a prenuptial agreement prior to marriage protects each party.\u00a0 While some prenuptial agreements break down along the lines of, \u201cI keep what\u2019s mine and you keep what\u2019s yours,\u201d this doesn\u2019t have to be the case.\u00a0 A prenuptial agreement can include offering a soon to be spouse a portion of a business or other property.\u00a0 Regardless of how the couple decides to divide their assets and debts, a prenuptial agreement details the terms and conditions of each party\u2019s interest in each person\u2019s assets and debts.<\/p>\n<h2>3. Discuss Your Finances<\/h2>\n<p>Most people do not like talking about money in general.\u00a0 Further, most people are reluctant to discuss their particular financial situation even with those closest to them.\u00a0 A prenuptial agreement must fully detail each party\u2019s financial situation.\u00a0 This forced openness and honesty can make for a stronger relationship.\u00a0 Experts say it also lays the foundation for future financial discussions couples should be having.<\/p>\n<h2>4. Protect Valued Heirlooms<\/h2>\n<p>Almost everyone has heirlooms or keepsakes that are valuable to them.\u00a0 Perhaps it is a ring handed down from a great grandmother, or an antique submarine clock, or a stamp collection.\u00a0 Regardless of what it is that you treasure, a prenuptial agreement ensures that it stays in your family and is not subject to litigation during divorce proceedings.<\/p>\n<h2>5. Provide Your Business Partners Assurances<\/h2>\n<p>If you own a business, or if you own a share of a business, the fact that it is yours will not protect it from your spouse during divorce proceedings.\u00a0 In order to ensure your business stays your business and your business only, you can include this in your prenuptial agreement.\u00a0 If, on the other hand, you marry without a prenuptial agreement, your share of the business may be the subject of litigation during a divorce.<\/p>\n<h2>6. Consider Your Children<\/h2>\n<p>If you have children from a prior relationship, a prenuptial agreement can protect their interests.\u00a0 A prenuptial agreement that details your premarital assets can ensure that your money and other assets are protected.\u00a0 This way, your adult children don\u2019t have to worry about losing their inheritance in a messy divorce.\u00a0 You can also use your prenuptial agreement to detail assets you want your children to have upon your death.<\/p>\n<h2>7. Ensure Continued Custody of Pets<\/h2>\n<p>While you may view your pet as a part of the family, divorce courts don\u2019t.\u00a0 A pet is just another piece of property which must be granted to one party or the other, as far as the courts are concerned.\u00a0 To make certain you retain ownership of your beloved pets, include them in the prenuptial agreement.<\/p>\n<h2>Legal Requirements for a Prenuptial Agreement<\/h2>\n<p>Courts will uphold a lawful prenuptial agreement.\u00a0 In order to be lawful, a prenuptial agreement must be in writing and signed by both parties.\u00a0 While not legally required, it is a good idea for each party to have their own attorney review the prenuptial agreement prior to signing it.\u00a0 Prenuptial agreements are not valid if there is fraud, coercion, duress, mistake, incompetence, undue influence, or unconscionably.\u00a0 Put another way, courts will review a prenuptial agreement to determine if the parties were dishonest with each other regarding their finances.\u00a0 They also review prenuptial agreements to determine if they are grossly unfair.\u00a0 Of particular note, a failure to fully disclose one\u2019s financial situation completely is considered an essential part of a fair agreement.<\/p>\n<h2>Considering Marriage?<\/h2>\n<p>If you are considering marriage, it is a good idea to consider a prenuptial agreement.\u00a0 At\u00a0<a href=\"\/\">Fait &amp; DiLima<\/a>, our marriage and family law attorneys can assist you in writing a prenuptial agreement that is fair to your soon to be spouse, but also protects your interests.\u00a0 Already married?\u00a0 A postnuptial agreement can also accomplish the goals of a prenuptial agreement.\u00a0 Contact the office today to schedule a consultation to discuss your situation.\u00a0 We look forward to speaking with you at <a href=\"tel:+1301-251-0100\">(301) 251-0100<\/a>.<\/p>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>A prenuptial agreement, sometimes referred to as a \u201cprenup,\u201d is a contractual agreement that protects the parties from unanticipated and undesirable results, should the marriage end in a divorce.\u00a0 The benefits of a prenuptial agreement are many.\u00a0 In a perfect world, a couple entering into marriage will never need to dust off their prenuptial agreement [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":5006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[36,52],"class_list":["post-2136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-divorce","tag-prenuptial-agreement"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>7 Benefits of a Prenuptial Agreement | Maryland Family Lawyer<\/title>\n<meta name=\"description\" content=\"Discover the advantages of having a prenuptial agreement before tying the knot. 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