When couples in Maryland or elsewhere around the country plan to get married, many of their major decisions are centered on the wedding itself. For example, they must discuss the venue, what the wedding party will wear or even what food will be served. While introducing the topic of prenuptial agreements may not be the most likely subject while wedding planning, some experts contend that having a prenup may actually strengthen a couple's psychological bond.
In the 21st century not all things last forever and that can include marriage. Gone are the days when couples stay together no matter what. Younger Maryland couples -- or millennials -- realize this and are waiting longer to get married. They're also marrying smarter, and that includes marrying with prenuptial agreements in place.
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.
When Maryland couples or others around the country get divorced, emotions can often run high. Issues such as child custody or division of property can become contentious. In many situations, having prenuptial agreements or similar agreements in place can greatly reduce the amount of tension between the parting spouses. However, if one party questions the validity of a marital agreement during the divorce proceedings, the tension is likely to flare again.
The notion of staying married forever and sharing everything until death should be the focus when marrying, but it is not always the outcome for some. While many enter marriages with forever in mind, statistics show that almost half of the marriages will end in divorce in the United States. For many young couples in Maryland and other states, prenuptial agreements may be the first legal document they sign before entertaining the idea of holy matrimony.
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.
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.
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.
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.
When a couple is preparing to walk down the aisle, the thought of a prenuptial agreement can seem unromantic and unnecessary. Nevertheless, this sort of legal agreement can be beneficial to protect the interests of both parties in the event of a divorce. Maryland couples considering the benefits of prenuptial agreements are not planning for their marriages to end; they are simply putting protections in place in case of a contingency.