As you may remember from last week, we addressed pre-nuptial agreements in our blog, “Do I need a Pre-Nup?” We gave readers a brief overview of Maryland law and what may happen to your assets during a divorce if you do not have a pre-nuptial agreement. In Maryland the court is responsible for evaluating the situation before making “an adjustment of the equities and rights of the parties concerning marital property.” Family Law Article Section 8-205(a). In layman’s terms, the court will divide your assets as it deems to be fair.
But what happens when you are already married and want to protect your assets just in case? This is when a post-marital or postnuptial agreement comes into play.
What is a Postnuptial Agreement?
A postnuptial agreement is similar to a pre-nuptial agreement in that it is a written contract designed to settle the couple’s affairs and assets. The only major difference is that a postnuptial agreement is executed after a couple marries or enters a civil union, not before.
Throughout the course of a relationship, variables undoubtedly change, the biggest of which tend to be salaries and financial assets. Suddenly, one partner makes significantly more than the other, creating conflict and uncertainties. If this dynamic existed before the marriage, a pre-nup could have been used to protect the financial assets of the primary breadwinner, but because this shift occurred post-marriage, a postnuptial is the only way to address such concerns.
Postnuptial agreements can cover a wide variety of other concerns, as well, including: conflicts over property, children, support, and probate matters.
Is a postnuptial agreement right for you and your spouse?
If you have any questions about Postnuptial Agreements, please contact Offit Kurman attorney and Chairman of the firm’s Family Law Practice Group Ronald L. Ogens at 240.507.1701 or firstname.lastname@example.org. Mr. Ogens practice is focused on the negotiation, settlement, and litigation of family law matters in Maryland and the District of Columbia.
Offit Kurman Attorneys at Law: Family Law Practice Group
At Offit Kurman Attorneys At Law, the attorneys in our Family Law Practice Group draws on a wealth of specialized experience in solving the problems which arise from separation and divorce and which impact a wide range of issues: from child and spousal support to division of marital assets. As seasoned litigators in the courts of Maryland, the District of Columbia and Virginia, we use our skills to seek resolution to your suit without continuing
You can rely on the attorneys in our Family Law Group to help provide a comprehensive transition through a stressful time.
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