For couples out there planning to tie the knot soon, we guess you have heard about premarital agreements from countless people. While we all want to avoid the prospects of separation, this is something that cannot be ascertained.
If you’d like to know more about these agreements, The Mercy Law Firm LLC, a top-notch law firm in Laurel, Maryland, is at your service!
Here are a few key details you need to be aware of regarding premarital agreements:
- Prenuptial agreements, or premarital agreements as they are also called, are crucial for couples. That’s because, in the event of a divorce, such an agreement can reduce complications involving finances.
- This can also protect assets. It ensures that both spouses are financially secure and children’s access to assets is protected if spouses enter into subsequent marriages.
- Apart from a mutual decision to separate, this also establishes a spouse’s property and support rights when the marriage terminates due to the passing of a partner.
- Some prenuptial agreements provide that each person retains any money earned and assets obtained before or after marriage. On the other hand, others allow each partner to preserve premarital and inherited assets while sharing assets gained during the marriage. These are only two of the numerous possible agreements.
Should you have further questions, our family lawyer in Maryland can walk you through the process.