Deciding to enter an official relationship with your partner is full of excitement. However, an increasing number of legal assistants from all over the state recommends protecting your assets from undesirable future conflicts by completing the Maryland Prenuptial Agreement Form. This document contains comprehensive information about both spouses’ premarital financial situations, real and personal property, and how they would like to deal with all these in case of a divorce.
Some people believe that prenups are necessary only for those who own substantial amounts of money and possess valuable property. However, any person can secure themselves from possible disputes with the future life partner by filling out the prenuptial agreement template regardless of their financial background.
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The possibility of filing a divorce may be the reason to sign the prenup agreement. In case one of the partners suddenly dies, the paper will serve to evince your mutual consent about post-marital monetary matters.
The Stewart vs. Stewart. (No. 0249, 2011) case contains a lot of information to review before filling out and signing the prenup to ensure that the contract is fair and enforceable. You can also consult a specialist or hire a family law attorney if you can afford one and think this is a necessary measure. However, with our legal review, you will become a prenup agreement expert yourself in no time.
This section of our review will give you details about the Maryland state laws and regulations governing premarital relations and related matters.
In Maryland, the agreement is not valid if it is discussed and concluded by the parties orally. Both future spouses have to disclose information about their assets, describe the prenup conditions they believe to be favorable in writing, and then sign the paper showcasing their official consent.
According to Section 8-101 of the Maryland State Law, nuptial agreements on alimony, property, and personal rights gain effectiveness upon the marriage commencement. They are not considered enforceable in case of:
If you have decided to make amendments to an existing prenup, you must consult your spouse and declare them in writing. Make sure that both sides append their signatures.
The court generally endorses the couple’s intention to discuss their monetary matters before entering a legal relationship and make a legally binding commitment. Amongst the reasons for a judge to refuse to approve your premarital agreements are significant errors (if the provisions are shockingly insensible) and unconscionability of either party. If the marriage is eventually annulled or voided, the prenup agreement is terminated as well.
The Maryland Prenuptial Agreement is dedicated to both parties’ premarital assets, debts, retirement accounts, health insurance, or managing the spouses’ businesses. You may also include alimony issues herein—whether one of the partners is willing to supply and support the adverse party in case of separation or divorce. The support amount and duration can also be indicated in the contract.
You will not find any information concerning the parties’ joint children or the minors from previous marriages. According to the court’s policy, custody and support issues have to be considered only at the time of a divorce in case it takes place. This rule is explained from the point of view that it is arguably difficult to foresee the exact conditions serving the child’s best interests in the future.
Maryland is an equitable distribution state, which means that if your legal relationship comes to an end, the property will be divided equitably. However, this is not always the case. If a couple understands how they wish the real estate and personal possessions to be divided before their marriage, their written consent in the prenup will protect them once (and if) they decide to divorce.