Bethesda is located in an equitable property state, meaning that all assets and debts that a couple acquires during their marriage are equally owned by both spouses. As a result, local family courts may exercise great discretion when splitting a couple’s assets during divorce proceedings.
Entering into a prenup contract before getting married with an attorney’s help is one way to retain control over your finances in case of a future divorce. A compassionate Bethesda prenuptial agreements lawyer could help you provide more certainty for your future by drafting a pre-marriage contract on your behalf.
The Purpose of Prenups
Prenuptial agreements can play a major role in a person’s decision to get married as well as in a potential marriage dissolution. In short, a prenup is a contract two people enter into before marriage that controls what will happen if they end up divorcing. If the marriage does not end in this way, the agreement has no legal effect.
According to Maryland Code, Family Law §8-205, Bethesda is in an equitable distribution state, which means that both parties retain equal ownership rights to all property obtained during the marriage. The goal of a prenuptial contract is to allow a couple to retain control over their assets if their marriage dissolves. A judge has the authority to split a couple’s assets in a way that places equalizes the parties’ financial assets.
However, an equitable split does not necessarily mean equal, and many people find themselves in worse circumstances than they were in before getting married. Fortunately, a diligent and experienced Bethesda prenup contracts lawyer could ensure that appropriate provisions on property distribution are included in your agreement.
Terms of a Prenup
It is always a good idea for people who are about to get married to discuss their finances, especially in the context of a potential divorce. A prenuptial agreement can help a couple in Bethesda understand the financial implications of their union and bring stability in case their marriage comes to an end. A properly constructed prenup must be incorporated into a final divorce decree, and its terms would be legally binding for both parties.
One thing that prenuptials do not control is the care and custody of children. Family law judges are obligated to make decisions on these matters in a way that upholds the child’s best interests. For this reason, any terms about custody that appear in a prenup would not be legally binding because the courts must evaluate those decisions on a case-by-case basis.
Get in Touch with a Bethesda Prenuptial Agreements Attorney Today
Many couples do not realize the extent to which a marriage ties two people together in terms of finances and property rights. Working with a skilled Bethesda prenuptial agreements lawyer can help provide certainty for your future.
A prenup is a legally binding contract that allows people to dictate many terms of a potential future divorce. Reach out to our firm today to learn more about how a prenup could help to protect your future.