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Important points about prenuptial agreements

Some Maryland couples may want to consider a prenuptial agreement regardless of whether they own many assets. Attorneys say that prenuptial agreements are on the rise, and they are not just for the wealthy. Increasingly, millennials are turning to prenuptial agreements even if they are just starting out financially.

A prenup can make a variety of provisions. For example, it can specify different types of settlements depending on how long the marriage lasts. However, there are several factors couples should keep in mind to help ensure that the prenup holds up in court. There needs to be ample time for both parties to review the prenup with their own legal counsel. Furthermore, a prenup only covers financial arrangements. Agreements relating to things such as child care and lifestyle can rarely be legally enforced.

One reason people without much money might want to get a prenup is because one or both partners has significant debt or either person anticipates gaining wealth in the future. For instance, one person might be concerned about getting saddled with a spouse's student loan debt, or a person may not have begun a professional career yet but might anticipate making a high salary in the future. Furthermore, many people feel that a conversation about prenuptial agreements and finances is a healthy one to have even if the couple ultimately decides against a prenup.

Unfortunately, a prenuptial agreement is no guarantee against a marriage ending, and in such a case, both spouses may want to discuss the situation with separate lawyers. Spouses in the midst of a divorce may want to make sure the prenup is upheld, or they may want to challenge its terms. For example, one person might feel that they were rushed into signing the prenup. In other cases, the prenup may have laid the groundwork for an amicable divorce, although couples may still need to negotiate issues such as child custody.

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