For those who are planning to marry, an important aspect to consider before the upcoming nuptials is to have an open and honest conversation about money. While not as glamorous as planning a honeymoon retreat, it is imperative to discuss finances, existing debt and the prospect of a prenuptial agreement. More couples in Maryland and other states are entering into prenuptial agreements while planning for their future together.
Maryland child custody rulings can be modified
If two Maryland parents battle it out in court over who should have full custody of their children, the court will hand down an ultimate ruling at some point. When this happens, both parents are bound to adhere to the terms of the ruling, although in some situations one or the other may decide to appeal. There are also situations where a parent may lose child custody, then file a new petition down the line to try to regain it.
Child support in Maryland: Think far, far ahead
When cradling your newborn, you and your spouse are not likely to think about whether the baby will need braces or eyeglasses further along. Admittedly, dreaming about having children doesn't often focus on the costs of raising them well into adulthood. When divorce intervenes, a Maryland couple may find that child support and all its associated expenses will leap to the forefront and stay there.
Unmarried with children: Child custody in Maryland
Many couples who choose not to formally marry often have the same goals as those who do marry, including having children. Similar to married couples, they may decide at any time to dissolve their relationship. When that happens, unmarried parents need to be aware of the differences in how Maryland family law addresses issues of child custody as well as visitation and support.
Maryland prenuptial agreements: Never in the shadow of the altar
Some things in life just seem to develop a bad reputation. It's true that prenuptial agreements are associated with divorce. Suggesting them is not like deciding where to go on honeymoon or choosing the flower arrangements for the wedding reception. Having premarital conversations about money are usually brief, reticent and uncomfortable. Yet, Maryland family law attorneys can bear witness to the value of prenups -- not just as important divorce documents -- but as mainstays of well-launched marriages.
Review of prenuptial agreements needed due to tax change
A proposal for lifelong marriage can be exciting for a couple as they look forward to sharing their lives together. However, some individuals of great wealth will consider a prenuptial agreement prior to saying "I do." A prenup can help set the financial expectations in a marital relationship and can also protect one's assets in the event of a divorce. Maryland couples who have current prenuptial agreements will need to review them in order to continue protecting their finances as the newly enacted federal tax laws will make changes to alimony in 2019.
When to talk about prenuptial agreements with children of wealth
One of the largest contentions in a marriage is the handling of finances. However, some individuals must consider their finances before they tie the knot. Individuals of wealth, either self-made or inherited, should consider a prenuptial agreement prior to a marriage. Maryland families of great wealth strongly encourage prenuptial agreements to protect the family's assets as the money is passed down from generation to generation.
