Marriage can significantly impact the financial interests of both parties. Maryland is an equitable distribution state for marital property, meaning courts are required to split property acquired during the marriage equitably in the event of separation. Equitable does not necessarily mean equal. The court is charged with dividing the marital assets fairly. For many reasons, it makes sense to protect your financial interests through a prenuptial or postnuptial agreement.
An experienced Frederick marital agreements lawyer at Rolle & DeLorenzo can help you understand what options are best for you and your situation. Our skilled family attorneys can help you prepare a well-planned marital agreement that provides peace of mind as you enter marriage.
A prenuptial agreement is a contract spouses enter into before getting married. Generally, a prenuptial agreement describes the assets each person owns and how the parties will manage those assets in the future. Some examples of types of assets the parties might seek to protect include:
A properly executed prenuptial agreement will govern how the parties distribute property in the event of divorce.
Maryland is an equitable distribution state, meaning the court can divide marital assets fairly. Under Maryland Family Law § 8-205, the court will evaluate and distribute property acquired during marriage according to law. In some situations, spouses can cause property that would otherwise be non-marital to become marital if they both exercise some control over it. The thought of splitting everything fairly someday and losing control over certain property could add unnecessary tension and strife to a marriage. A well-crafted prenuptial agreement can prevent that, and our Frederick attorneys can help draft this marriage contract.
Much like a prenuptial agreement, a postnuptial agreement can outline terms that the parties have agreed upon concerning property. For example, spouses may gain property or financial assets during the marriage that they want to safeguard in certain ways. They might also realize during the marriage that a property agreement makes more sense than leaving property distribution up to a judge someday.
If the spouses enter into the contract in accordance with state contract law, a postnuptial agreement could be enforceable in the event of divorce. Certain conditions apply, and the court examines whether both parties entered into the agreement voluntarily, without duress, and after fully disclosing their assets to each other. Our knowledgeable legal team can draft a spousal contract that a Frederick court could enforce.
A well-crafted marital agreement can protect spouses and avoid leaving property decisions to the discretion of a family court judge. In some cases, a spouse who already has children when they enter the marriage can ensure financial safeguards exist for their children if the marriage ends in divorce. Our experienced Frederick marital lawyers can also ensure your prenuptial or postnuptial agreement is enforceable if necessary. Resolving these complicated financial issues before or during a marriage may help spouses avoid the significant costs of litigating these issues as part of a divorce case.
Marital settlement agreements are written contracts between divorcing spouses. Unlike a prenuptial or postnuptial agreement, marital settlement agreements are created during the divorce process to finalize agreements on property division and other issues. State law requires that a marital settlement agreement meet all requirements for a valid legal contract. There must be mutual agreement along with an offer and acceptance of a contract’s terms. Having a knowledgeable attorney at your side can help ensure your marital settlement agreement is legally enforceable.
Marriage is a lasting commitment that can impact the spouses’ finances in different ways. Through a marital agreement, you can gain control of your financial future instead of leaving property issues up to the court system in the event of divorce. Prenuptial and postnuptial agreements can have a positive impact on your marriage. A Frederick marital agreements lawyer can advise you how a contract might work for you. Reach out to us today to schedule a consultation.
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