Are you wondering what you should include in your prenuptial agreement? Perhaps you are about to get married, but unsure about Maryland prenup laws? Don’t fret. This article answers some of those questions and more.

But before we dive in, first things first:

What is a prenup agreement?

A prenuptial agreement is a contract signed by two prospective spouses. It spells out how spouses will divide assets in the event of divorce.  It comes in handy when you want to protect an inheritance, property, or family business.

A prenup is one of the crucial contracts for spouses. Let’s say your spouse will be entering the marriage with debts. A prenup clarifies who is responsible for paying those debts.

The most important thing is to know what to include in your prenuptial agreement. There are lawyers specializing in advising clients about prenuptial agreements. For instance, you can hire the Law Office of Robert Castro law firm to draft a prenup agreement for you.

What you should include in your prenuptial agreement?

Knowing what or not to include in a prenuptial agreement can be tricky. Hence, most people seek the help of a Maryland family law lawyer to advise them. There is a wide range of issues that you can include in your prenuptial agreement. Here are some:

• Premarital assets and debts – a prenup will establish how assets and debts will be handled after you and your spouse enter into marriage.
• Children from previous marriage or relationship – You can enter this into your prenup to establish how children from previous relationships will be provided for. Remember, a prenuptial agreement cannot determine child custody or child support matters. Every parent has a legal obligation to pay child support.
• Marital responsibilities – Your prenup can define your expectations in marriage.
• Property division in divorce – You can also include a clause that will define how assets will be divided if a divorce occurs.
• Insurance proceeds – Your prenup can also explain how spouses should divide insurance proceeds.
• Retirement accounts – Your prenup agreement can also explain if spouses will divide retirement funds or have separate accounts. A prenup lawyer Maryland will help you to draw a prenup for this.
• And many other clauses. Your Maryland family lawyer can advise you.

What is not covered in a prenup?

There are a couple of things that you can’t include in a prenuptial agreement. Here are some of them:

• Illegal activity 

If you are involved in any illegal activities, you can’t include any of them in a prenuptial agreement.

• Non-financial agreements

A prenup agreement focuses on financial issues. You can’t include nonfinancial matters in a prenup agreement. If you are unsure, a Maryland family lawyer can help you.

• Terms Involving Child Custody or Support

Maryland law doesn’t allow spouses to include a term in their prenuptial agreement that involves child custody or child support determinations. For example, a spouse can’t state that they will not pay child support if the couple divorces.

• Unfair or Unreasonable Terms

All terms that you include should be fair to your spouse. For instance, you can’t have a clause that says your spouse and children will be left homeless after a divorce. If you are unsure about including terms, a family law attorney Maryland can assist you.

When can you create a prenup? 

The best time to create a prenup is before the wedding. Remember that you cannot get a prenup after marriage, only before marriage. However, after marriage spouses can always draft a postnup. The difference between a prenup and a postnup is that a postnup you can draft after getting married.

You can take three to six months to draft and sign a prenup. Ideally, the best time to draw a prenup agreement is 30 days before the wedding.

Can you make changes?

Fortunately, you can make a change to your prenuptial agreement. However, this will only be possible if your spouse agrees to modify it. Family law lawyers in Maryland can help you make changes to your prenup.

How your attorney can help

Attorneys can help you to customize your prenuptial agreement. Family law lawyers in Maryland will ensure that your prenup meets your needs and contains all the right clauses.

Suppose you are about to get married and considering drafting a prenuptial agreement. In that case, it’s essential to have family law lawyers in Maryland. They will answer all your questions about the enforceability of prenup terms. Please contact the Law Office of Robert Castro today!