Once a Maryland couple becomes engaged and begins to plan for their life together, there are a number of things that need to be considered. In addition to the wedding itself, the couple will need to decide where they will live, how they will handle their finances and numerous other things. Depending upon their circumstances, they may also need to decide if a prenuptial agreement is something that should be considered.
A prenuptial agreement does offer protection in case the marriage does not work out. It can specify how assets will be distributed and what spousal support will be paid, if any. However, there is more to this type of agreement. In fact, it can also be a useful tool in estate planning when there are children from a previous relationship that need to be taken into consideration.
In today’s society, it is common for there to be children from a previous relationship. Additionally, prior to this new marriage, the parents most likely acquired assets that they would like to see used to take care of these children as they grow. But, what happens if the parent dies? Will the assets that the parent brought into the marriage go to the new spouse or be used for the children? A prenuptial agreement can address this possibility.
Prior to saying their vows, the happy Maryland couple can plan for their future by addressing their unique circumstances ahead of time. One way that they can do this is through the use of a prenuptial agreement. An experienced family law attorney can work with the individual to determine if this document will provide the security that he or she is looking for.