Couples who marry today may have more to lose in the event they should split up. Family law in Maryland provides tools — such as prenuptial agreements — to safeguard the assets individuals accumulated prior to marriage. Contrary to popular belief, however, these agreements, or prenups as they’re often referred to, aren’t just for wealthy folks nor should they impede the romance factor among couples.
In fact, the people who appear to need prenuptial agreements the least are likely those who need them the most. Those who have recently started a business and who now have little in the way of savings or a divorcee with children who has decided to remarry are prime candidates for a prenuptial agreement. These are some of the people who stand to lose the most in the case of marriages that end in divorce.
Individuals who marry and who have a large inheritance or gifted money enter into that union with what is known as separate property, which is protected by law in the case of divorce. But the entrepreneur who begins what turns out to be a successful business needs a prenuptial agreement to safeguard his or her interests in that business. Also, relocation to another state can affect what happens to such assets since all states have their own set of rules, so it is important to know what those are in terms of an existing prenuptial agreement.
A Maryland attorney experienced in family law can offer some clarity on issues that can be complex such as marital agreements. Lessening the confusion that some of these agreements might cause may make clients more open to giving them some thought. Knowledge can often lessen the fear.