Rockville Prenuptial and Postnuptial Agreement Lawyers

Why should Rockville spouses consider prenuptial and postnuptial agreements?

Some of the many reasons a newlywed or someone who is already married may want to resolve their property division and alimony issues ahead of time include:

Valuable assets

If a spouse already has any valuable assets, they want to ensure that they keep those assets in the event of a divorce. When spouses divorce, all their marital property is divided equitably. Equitable distribution can mean that your spouse receives 55/60 or some figure higher than 50% of the marital property. A prenup clarifies what property is considered marital property and what property is considered pre-marital property.

Normally, if you own a home, for example, before you marry, your home is considered pre-marital property. If you think that you will keep your full interest in the home after you divorce though, without a prenup, you might be wrong. While your equity in the home is normally considered pre-marital property, your spouse will have an equitable claim to any increase in value in the home. The property’s value may increase as the mortgage is paid off. The value may increase due to market changes.  A prenup, however, can state that you keep the home no matter what happens to its value.

In addition to home considerations, you may want to consider a prenup if you own:

• A business. If you already have your own restaurant, tech company, or other business, a prenuptial agreement can help ensure you keep your business, and your spouse keeps their business.
• Retirement accounts. Your spouse will have a claim to part of your pension and other retirement benefits unless a prenup states that you can keep any retirement account you have.
• Bank accounts or any other possessions that can be sold now or when they vest.

Prenups can also be used to set the method for valuing assets. Some assets, like a business, can be valued in multiple ways.

A prior marriage

Spouses who have been married before may owe alimony to a prior spouse. If they have children from a prior marriage or prior relationship, they may owe child support. A prenup can provide that those obligations be met first before any property is divided or alimony to a new spouse is considered. Other issues, such as the duty to provide a home for children from a prior marriage/relationship, may be covered in a prenuptial agreement.

To save time and costs

Without a prenup, you and your spouse need to resolve how your marital property will be divided and whether there will be an alimony award. The disputes are resolved either through negotiation between the lawyers, the use of mediation, a collaborative divorce, or litigation before a family law judge. Even the friendliest resolution can take months and cost a lot in legal fees. If the disputes are contested, the time and expense for a judge to decide the issues will be even longer.

To keep children away from the disputes

It is difficult enough for children to know their parents are divorcing. A prenup helps ensure that the children are not called to testify, required to take sides, or wonder where they are going to live and what their lives after the divorce will be like. A prenup protects your child from the anxiety and distress of a contested divorce.

To resolve alimony rights before the divorce

If you do not have a prenup, you may be ordered to pay (or may be entitled to) the following types of alimony:

• Alimony pendente lite. This alimony type ensures the divorce contest is fair and that the spouse with more money cannot pressure the less financially secure spouse into a bad settlement. If you have a prenup, then there is less need for alimony pendente lite because you have already agreed not to litigate alimony or the division of your property.
• Rehabilitative alimony. A prenup determines whether a spouse needs to pay any money to help the less financially secure spouse acquire new job skills or an education.
• Indefinite alimony. Without a prenup, a spouse who is not able to earn a secure income can request alimony from the other spouse for as long as they live. An experienced Rockville prenup lawyer can explain how a prenup can terminate the right to indefinite alimony – money a spouse may truly need to survive.

Prenups do not resolve child custody or child support issues. Parents cannot agree to custody terms or the amount of money the children need before they divorce because the children’s needs are of the highest priority.

What topics do Rockville postnuptial attorneys review with their clients?

Spouses can agree, after they wed but before they divorce, to resolve their property and alimony issues in the event of a divorce. Spouses normally consider a postnuptial agreement for one or more of the following reasons:

• A spouse acquires valuable assets during the marriage that they want to make sure they keep if there is a divorce. It is common to consider a prenup if your business begins to do well or you come into an inheritance.
• Spouses may choose a prenup if the other spouse has expensive medical bills or the other spouse is being pursued by creditors. A postnup helps protect you from these third-party claims.
• To protect the children. If it becomes clear the marriage is not going to work, spouses may negotiate a postnuptial agreement so that their children know what will happen the moment the divorce becomes final, as well as protecting their emotional and financial security.

Are there grounds for invalidating a pre-nuptial or post-nuptial agreement in Rockville?

Our Rockville family lawyers work to ensure that the prenups and postnups we prepare are strong agreements that can be asserted in the event of a divorce. We will seek to invalidate prenups and postnups designed by third parties without your best interests in mind. Valid pre- and post-nuptial agreements must be decided based on Maryland family statutes. Possible invalidation grounds include:

• A spouse unduly pressured you to sign the prenup/postnup through duress or fraud
• Your spouse misrepresented their assets and income
• You were a minor when the agreement was signed