Statistics on marriage and divorce have changed over the past few decades for couples in Maryland and elsewhere in the country. For example, individuals are waiting longer now to get married than in the past. Also, the overall divorce rate is leveling off, while some demographic groups are even seeing a decline. These changing views on matrimony have also led to a different perspective on prenuptial agreements for many.
There have traditionally been negative connotations associated with prenups, such as the assumptions that they are unromantic and show a lack of faith that a marriage will last. They have also been viewed as being necessary for only those couples with higher incomes. However, with many people delaying first-time marriages, prenups are being viewed as an essential prerequisite before tying the knot.
Rather than getting married right after college graduation, as many did in the past, young men and women have started careers. They have built up savings accounts, began investing, purchasing property and even amassed debts. Financial experts stress the importance of discussing finances in depth before a wedding occurs. Couples can use prenups to define how any pre-marital assets earned or liabilities incurred can be kept separate from any realized together.
Prenuptial agreements can also address issues other than finances. Many couples include directives about child-rearing plans or even pet custody, should the couple get divorced. A couple may consider adding provisions to a prenup regarding infidelity or substance abuse.
A Maryland divorce attorney can offer assistance in developing prenuptial agreements to couples before their weddings. If a couple is already married, a postnuptial agreement can be written. Marital agreements like these can provide assurance that one’s best interests have been considered and protected should a relationship end.