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Why are prenups important?

| Apr 27, 2020 | Divorce |

Millenials are waiting longer and longer to get married. As a result, they are accumulating more assets, wealth, and even debt, before tying the knot. While Maryland residents getting married want it to last forever, the reality is that a stark percentage of marriages end up in divorce. While it is not an ideal situation, couples should think about what they want the end of their marriage to look like before it even begins. This is because couples are on good terms with each other and more likely to think about one another’s well-being at the start of the marriage rather than at the end.

While marriage is definitely about love, trust and a merger of hearts, it is also about a merger of assets. One can think of it as a contractual relationship, and seldom do people enter into such a relationship on the basis of faith alone. People want to go over the terms and conditions of the contract to ensure they are favorable to each party and marriages should be treated no differently.

Discussing a prenuptial agreement before marriage is one way to ensure that the partners of the marriage decide the terms of the end of it on their own terms, rather than let state laws govern it. When making property division decisions, courts will most likely not take sentimental value into account. As a result, art pieces, family pets and vintage cars might be distributed in a manner unfavorable to the couple.

Money is generally the number one stressor in any relationship, therefore it is likely to be even more anxiety inducing at the end of the relationship. Deciding how to divide the assets and debts through a prenuptial agreement before the marriage begins is one way to minimize disagreements if the relationship breaks down. An experienced attorney can help couples draft a legally valid and comprehensive agreement.