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Towson Prenuptial Agreements Lawyer

Are you looking for an experienced Towson prenuptial agreement lawyer? At Lebovitz Law, we help people to create prenuptial agreements (prenups) and maximize financial outcomes. When a prenup is set up and managed by experts, it can be an enduring, smart, and mutually beneficial financial planning tool. If you’ve been searching for a “prenup lawyer near me”, your wait is finally over.

As you are planning your wedding, the last thing you want to think about is divorce. However, it is always important to consider your long-term financial goals so you can protect your financial security. Even though they are sometimes thought of as ‘romance killers,’ prenuptial agreements can help ensure your future is protected. When the couple has a blended family, or one person has been married before, a prenuptial agreement can be particularly helpful.

Prenuptial agreements do have many benefits but in order to realize them, couples must ensure their document is enforceable. A Towson prenuptial agreements lawyer can create a contract that provides the protection you need and that will be approved by the court.

What is a prenuptial agreement?

Before you look for a prenuptial agreement attorney, it’s important to understand the details of this legal arrangement. Also known as a premarital agreement, a prenup is a written contract that enables a couple to select specific legal rights upon marrying or civil union and control outcomes upon death or divorce. A prenup is arranged by a couple when they enter a marriage or civil union, and it’s designed to supersede default marital laws within a particular jurisdiction.

Above all else, a prenup is a financial planning tool with enforceable ramifications. While a domestic partnership represents a physical and emotional union, in Maryland, it also has financial implications. When requested, a prenup lawyer helps to write up a prenuptial contract between domestic partners. This contract deals with various potential issues, including property, asset division, inheritance, and alimony. Working with a prenup attorney provides a sense of security, with the contract involving a defined exchange of financial terms for the act of marriage itself.

What does a prenuptial agreement cover?

A prenuptial agreement is a legal arrangement initialized to protect assets, which may be brought into the marriage and owned by a single party. If you or your future partner have extensive holdings, including property or business ownership, a prenup can help to protect these assets. A prenup can also be set up to deal with alimony, including financial issues related to children from previous relationships.

A prenup can be useful in a wide variety of circumstances:

  • General financial management, including assets, investments, and savings
  • Property rights, including assets acquired before or during the marriage
  • Retirement accounts, including provisions to separate or divide funds
  • Life insurance, including all decisions surrounding the distribution of funds
  • Wills, and whether they are needed to carry out the prenup arrangement
  • Inheritance rights, including provisions for existing or future children
  • Alimony issues and awards involving children from previous relationships

Who should get a prenuptial agreement?

Generally speaking, you should consider a prenup if you or your partner have existing assets acquired before marriage. You should also consider a prenup if you have children with a previous partner and pay alimony or monetary awards as a form of financial support. Last but not least, you should consider a prenup if you want to set up specific arrangements to deal with future financial issues surrounding children, inheritance, property, or other assets. At Lebovitz Law, we specialize in family law matters, so you can get all the advice you need under one roof.

Important Things to Know About Prenuptial Agreements

To avoid any potential pitfalls of improperly drafting a prenuptial agreement, below are some important things you need to know.

  • Both spouses must be honest and disclose information about all of their debts and assets prior to creating a prenuptial agreement.
  •  Each spouse should have their own attorney who can represent their best interests.
  •  Prenuptial agreements must be fair to each side and should never benefit one party over the other.

It is not necessary to work with a Towson prenuptial agreement lawyer, but it is important to remember that no two marriages are exactly alike. As such, the standardized forms available may not include important provisions you need in yours. A lawyer will review the facts of your case to ensure your prenuptial agreement includes the most important provisions for you.

Benefits of a prenup

Setting up a prenup offers a range of benefits, both now and in the future. While this type of legal arrangement is normally designed to safeguard future interests, it can also play an important role during a partnership. For example, working with a prenup attorney helps you to clarify any current financial issues. Instead of dealing with uncertainty and worry, you can speak with your partner about finances, holdings, income streams, and debts. A prenup is about discussing important matters and finding an agreement which can help to strengthen your partnership.

Make no mistake, however. Most of the benefits associated with a prenup come into play when a marriage is dissolved. If either party passes away or a divorce occurs, a prenup allows you to manage your financial interests with certainty. When planned and prepared thoroughly and carefully by an expert, a prenup can help to reduce the stress and expense associated with the divorce process. With important financial issues already dealt with in the prenuptial agreement, the divorce itself can be much easier to manage.

Limitations of a prenup

Despite the obvious benefits of a prenuptial agreement, creating a prenup is not ideal for all situations. There are potential limitations, legal discrepancies, and certain requirements that need to be addressed. For example, a couple may not enter into a contract if they plan on getting divorced. In addition, a written promise to marry will not be enforced unless the woman is pregnant, and agreements don’t affect child support payments or custody arrangements.

In Maryland, the Uniform Prenuptial and Marital Agreements Agreement Act (UPMAA) does not apply, and there is no legal action for alienation of affections. There are also stipulations surrounding falsehoods and validity, with any of the following factors likely to create problems: fraud, duress, coercion, mistake, undue influence, incompetence, and unconscionability (extraordinarily unfair). If you’re planning on getting married or entering into a civil union, speaking with a prenup lawyer is the best way to get accurate advice for your individual case.

The Marital Agreements Agreement Act (UPMAA) in Maryland

In 2012, the Uniform Premarital and Marital Agreements Act (UPMAA) was approved, which replaced the Uniform Premarital Agreements Act (UPAA) from 1983. The goal of this act was to bring consistency to legal agreements between spouses, but it was only initialized in 26 states and the District of Columbia. Maryland is not one of the 27 enacting jurisdictions, which can create a lack of clarity between spouses when moving to or from the state.

If this regulation is enacted by the Maryland legislature in the future, it would codify certain rules regarding prenuptial agreements. Among other things, the person receiving a proposed agreement would have access to independent legal representation before the prenup is executed. This would also apply to people already married who may also wish to enter into an agreement. Most other provisions of the UPMAA are consistent with existing Maryland laws. In all jurisdictions, the prenup must not result from duress or unconscionable conduct, and both parties must either make or expressly waive financial disclosure.

If you’ve been searching for a “prenup attorney near me”, the Lebovitz Law team is here to help. Please contact our legal experts today for more information on prenuptial agreements.

How are Prenuptial Agreements in Maryland Enforced?

Prenuptial agreements are largely intended to help spouses determine how they will divide their property and address their debt and other financial issues in case the spouse ultimately divorce. Prenups can also address how certain issues will be handled during the marriage.

A prenuptial agreement can protect any assets you owned prior to the marriage, as well as any of those belonging to your future spouse. It can also prevent you from inheriting their debts in the future. If you have a child from a previous marriage and you want to leave them an inheritance, this can be included in a prenuptial agreement, as well.

As in all other states, prenuptial agreements in Maryland must be in writing. Two witnesses must verify that you have read and signed the agreement. Both witnesses must also sign the agreement. After you and the witnesses have signed the completed agreement, a lawyer will submit it to the court to make it official.

Our Prenuptial Agreements Lawyer in Towson will Ensure Your Agreement is Enforceable

If your future spouse has asked you to sign a prenuptial agreement, or you have thought about drafting one yourself, it is important you speak to a Towson prenuptial agreements lawyer. At Lebovitz Law, our experienced attorney can help you draft an agreement that will protect your rights and that the courts will enforce. Call us now at (410) 657-6494 or fill out our online form to schedule a consultation.

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