When a Maryland couple decides to get a divorce, they may assume that there will be some heated or contentious discussions in their future. Although the couple may agree that it is time to move on, they are not looking forward to some potential arguments over how their property will be divided or how custody for the children may be handled. However, for those couples with prenuptial agreements, the potential for these heated conversations is mostly out of the picture.
Prenuptial agreements, or prenups, are documents couples sign before tying the knot. The agreements address a variety of issues about how things will be handled should the couple split. Just a few years ago, prenups were mainly reserved for wealthy or celebrity couples. However, in the last five years, over 60 percent of matrimonial lawyers report that they have witnessed a rise in the requests for prenups, particularly among the millennial generation.
One of the main drivers of this increase may be that people are waiting longer to get married. When a couple marries at an older age, the partners are coming into the union with more established jobs, greater amounts of individual savings or even their own businesses. Naturally, one would want to protect that interest in a marriage.
On the flip side, some couples address the issue of debt in a prenup. One of the future spouses may have a mountain of student loans and provisions are made in an agreement to keep the responsibility for repayment of those loans with the one who incurred it. Other provisions in a prenup may include specifics regarding child custody, alimony or even lifestyle requirements. Issues concerning the children, however, are always subject to the court’s determination as to what is in their best interests.
Prenuptial agreements will likely be as unique as the individuals signing them. To ensure that an agreement is best tailored to meet specific needs, contact a Maryland divorce lawyer for assistance. An experienced attorney can help couples develop a prenup before the wedding or assist couples who have already married with postnuptial agreements or similar documents.