A “Prenuptial Agreement” is an agreement made between two individuals in contemplation of marriage which addresses property, finances and other issues arising out of their upcoming marriage. There are a number of benefits to entering into a Prenuptial Agreement and such agreements are becoming increasingly common for soon-to-be married couples.
One of the primary benefits of having a Prenuptial Agreement in place is the comfort of knowing what will happen with property and finances in the event of divorce. Of course, nobody gets married with the expectation that they will get divorced but it is always good to have a plan in place in case a divorce becomes inevitable. Through a Prenuptial Agreement, couples can and should identify their existing assets, what will happen to those assets in the event of divorce and how the couple wants to handle future assets which may be acquired during the marriage. This gives both parties a level of protection and mutual understanding which would not otherwise exist without a Prenuptial Agreement in place.
Additionally, married couples can enter into a similar agreement often referred to as a “Postnuptial Agreement”. Postnuptial Agreements are very similar to Prenuptial Agreements except that they are made after the parties have gotten married. Much like a Prenuptial Agreement, Postnuptial Agreements can address property, finances and other issues arising out of the marriage.
It is important to note that neither a Prenuptial nor Postnuptial Agreement can address custody or support of any children which the parties have together. Custody and child support are issues which must be determined at the time that the divorce arises.
When negotiating and considering a Prenuptial or Postnuptial Agreement, it is extremely beneficial to have an attorney in your corner who can properly advise you. Robert Greenberg, Esq. and the law firm of Greenberg Legal Group LLC have extensive experience drafting and negotiating Prenuptial and Postnuptial Agreements. Our firm is located in Annapolis, Maryland and represents clients throughout the State of Maryland. Please contact our office at (410) 650-4242 for further assistance.