The nightmare scenario for Maryland couples is that they ending up in a contentious divorce that requires a lengthy legal battle to decide. Much of the bitterness can be avoided ahead of time if the couple signs a prenuptial agreement before they are married. This option is gaining in popularity after previously being disfavored by many.
A prenuptial agreement essentially decides before the marriage how the property will be divided in the event of a divorce. It is especially valuable for those who enter the marriage with assets of their own. It may even be helpful for those who plan on starting a business. However, prenuptial agreements are not a province of the rich. They provide certainty to everyone and can reduce the risk that they lose assets in a divorce.
One group that is opting for these agreements in greater numbers is millennials. These days, millennials are getting married later in life. As a result, they have accumulated more assets in their name. They may also have student loan debt and want to make sure that they do not get stuck with someone else’s obligations. Finally, millennials may be children of divorce and have witnessed their parents battle it out over money. In any event, more people are starting to realize that a prenuptial agreement is something that can help as opposed to an unseemly negotiation before marriage.
Somone who is considering marriage could visit a prenuptial agreements attorney to learn more about how this type of contract can protect them in the future. While they may find it messy to negotiate with a future spouse over money when they are not even married, they might benefit from the peace of mind that a prenuptial agreement affords them. The attorney could negotiate on their behalf, so they can leave the details to someone else.