What Can Happen If I Do Not Sign a Prenuptial Agreement?

 Posted on September 30, 2024 in English

Like marriage, divorce can be a major life-changing event. It not only affects your marital status, but it can also affect your debts and finances, including any businesses or assets you own. If you are not properly prepared, the divorce process can leave you feeling blindsided by the changes. That is why many couples who want to get married sign prenuptial agreements.

In this article, we will explore what a prenuptial agreement is and the potential legal pitfalls that can happen without one. Contact a Maryland family law attorney for help drafting a prenuptial agreement or any other legal assistance.

What Is a Prenuptial Agreement?

A prenuptial agreement is a document signed by both spouses before marriage that outlines what will happen in the event of a divorce. It may contain details concerning:

• Whether either spouse is entitled to spousal support (alimony)

• Assets belonging to each spouse

• Which assets will be divided between the parties, and how

• Responsibilities of each spouse regarding any debts acquired during the marriage

Prenuptial agreements are legally binding, so couples who dissolve their marriage after signing them tend to find the divorce process smoother and easier. This is because it can allow spouses to bypass negotiations and disagreements about issues like alimony and property division, which have already been decided in the agreement.

What Happens If I Do Not Sign a Prenuptial Agreement?

Some couples do not sign prenuptial agreements because they find it uncomfortable to think about the marriage ending. However, there are potential legal consequences of not signing a prenuptial agreement. For example:

• Without a prenuptial agreement, a court will decide which of your assets are considered marital and, therefore, belong to both parties. These assets may include even those you had before the marriage, such as a business. If your spouse contributed to the business, a court may award him or her a share of it. A prenuptial agreement, however, can prevent it from being divided.

• Without a prenuptial agreement, a court will make decisions about alimony at its discretion. These might be based on factors like the duration of the marriage and the income of each spouse. In a prenuptial agreement, the spouses decide the provisions for spousal support.

• Without a prenuptial agreement, a court will decide how to divide your assets between you and your spouse. In Maryland, marital property is distributed equitably, not equally, which means it is divided according to what a judge thinks is fair. In a prenuptial agreement, a couple has more control over how marital assets will be divided in a divorce.

• Without a prenuptial agreement, there may be heated and prolonged disputes about issues like spousal support and property division. The parties may first have to try negotiating through mediation and proceed to trial if those efforts fail.

Contact a Rockville, MD Family Lawyer

Signing a prenuptial agreement can be a great way to avoid a costly and drawn-out divorce. Make sure it is drafted by an experienced Green Valley, MD prenuptial agreement attorney. At Salvado Law Offices, we understand the challenges divorce can bring, and we know how to address them in a prenuptial agreement tailored to your needs. Speak with a skilled attorney by calling 301-933-1814 today.