Is It Ever Too Late to Get a Nuptial Agreement?
It is never too late to get a nuptial agreement. In fact, many couples who come to see a family law attorney in Maryland to have a nuptial agreement are surprised to learn that they can benefit from having this kind of agreement even if they have been married for years. Let’s take a look at the details.
A nuptial agreement after marriage, commonly known as “postnuptial agreement,” is a contract between spouses that sets out how their assets will be divided in the event of divorce or death. It can also address other financial issues, such as spousal support.
For couples who have been married for many years, a nuptial agreement can be used to protect each spouse’s assets that were brought into the marriage. For example, if one spouse has a business that they started before getting married, a nuptial agreement can ensure that this business remains their separate property in the event of divorce.
A postnuptial agreement must be in writing and signed by both spouses. It must also be witnessed by a third party.
It’s important to note that a postnuptial is not valid unless both spouses have received independent legal advice. This means that each spouse must have their own lawyer review the agreement and provide them with advice on its implications.
If you’re considering getting postnuptial, it’s important to consult with an experienced family law attorney Towson MD to ensure that it’s properly drafted and enforceable.
There is no time limit on getting a postnuptial agreement, so long as both spouses are willing to sign it. However, it’s important to note that if there has been a significant change in circumstances since the agreement was signed, this may affect its enforceability.
For example, if one spouse wins the lottery after signing a postnuptial agreement, the other spouse may argue that this change in circumstances voids the agreement. Or, if there are children from a previous relationship, a court may find that the Nuptial Agreement is not in their best interests and set it aside.
Nuptial agreements are not just for the wealthy. Anyone who wants to protect their assets or limit their liability in the event of divorce can benefit from a postnuptial agreement Maryland.
There are many benefits to having a nuptial agreement, including:
1. Protection of assets: A nuptial agreement can protect your assets in the event of divorce or death. If you have significant assets or property, a nuptial agreement can ensure that these are protected during a divorce.
2. Limit liability: A nuptial agreement can limit your liability in the event of a divorce. If you are concerned about being liable for your spouse’s debts, a nuptial agreement can protect you from this liability.
3. Peace of mind: A nuptial agreement can give you peace of mind knowing that your assets are protected in the event of a divorce.
4. Flexibility: A nuptial agreement can be customized to fit your unique circumstances. You can specify how you want your assets to be divided in the event of a divorce, and you can include provisions for alimony or child support.
5. Certainty: A nuptial agreement can provide certainty in an uncertain world. If you are concerned about what would happen to your assets in the event of a divorce, a nuptial agreement can give you the peace of mind that comes with knowing what will happen to your assets.
If you are considering getting a postnuptial agreement, you should speak with an experienced family law attorney to discuss further details about your nuptial agreement. At Levin Gann PA, we can help you understand the benefits of a nuptial agreement and customize an agreement to fit your unique circumstances. We can also help you ensure that your agreement is properly drafted and enforceable. Contact us today to schedule a consultation to discuss the ramifications and the Maryland attorney cost of postnuptial agreement.