Wedding season is well underway for couples across Maryland. If you are among those preparing for your spring or summer nuptials, then you likely have done your fair share of planning recently.
However, one planning detail you might have dismissed or put off could be a prenuptial agreement, whether the idea made you feel uncomfortable or you assumed you didn't need one. Before you decide against signing a prenup, though, you should consider some important details about a prenup that could change your mind.
- Having a backup plan is not the same as having expectations. In other words, the fact that you or your partner wants a prenuptial agreement is not an indication that either of you expects a marriage to end in divorce. Instead, it can be a means of protecting yourselves should the worst happen.
- Some discomfort now could shield you from serious contention in the future. Making decisions about difficult subjects like alimony and property division now when you care about each other makes it easier to reach amicable solutions. Should you get divorced, you could be dealing with very different emotions that make it impossible to reach agreements together.
- It puts you on the same page. Talking about subjects like finances and marital expectations can be difficult, but it is valuable. It requires you to be open and honest with each other, which could allow you to address any possible red flags before they become a major issue threatening your marriage.
- Both parties could have interests worth protecting. Prenups are not reserved for affluent couples or couples where one person has billion-dollar assets. As noted in this FindLaw.com article, they can also be used to shield each other from debt obligations, protect business investments and secure ownership of separate property. A prenup can also ensure a financially-disadvantaged spouse will receive spousal support in the event of a divorce, which can provide critical peace of mind.
When you think about these elements of prenuptial agreements, you may not feel as inclined to dismiss the idea altogether.
If you are thinking about a prenuptial agreement, or if you are not sure if you need one, it can be helpful to discuss your situation with an experienced attorney. A legal representative can inform you of your legal options and help you draft a fair, valid plan.