Legal Blog

The Weekly Scenario from Steve Shane – 6.3.13

Question:  I am getting married for the second time and am wondering if I need a pre-nup? Answer:  If you plan to get married without a legally binding document which addresses the economic consequences of ending the marriage, you do have a pre-nup of sorts, that is the divorce laws of your particular state.  As I have explained in other posts I’ve made in the past, for many reasons, some individuals prefer to take more proactive measures by drawing up a more formal agreement rather than leaving things in the hands of lawyers and the courts.  Whether a pre-nup is the right way to go depends on a lot of factors as you can imagine.  However, there are a number of specific situations where I think a pre-nup should be carefully considered. 1. This is not your first marriage. 2. Your partner has some heavy debts or obligations. 3. You own a business or have a large stake in a business. 4. Your wealth is disproportionately higher than your partner. 5. You have very different estate planning goals. Comment:  Even those individuals that don’t plan to get married, but prefer to arrange things as a ‘domestic partnership,’ it is a good idea to consider an agreement such as a living together agreement.  This is very similar to a pre-nup in terms of planning for a potential future split up. Steven E. Shane Principal Offit│Kurman Attorneys At Law 301.575.0313 Washington 443.738.1513 Baltimore 410.218.9339 Mobile 301.575.0335 Facsimile Please note the above material discussed is intended to provide only general information. Do not, under any circumstances, solely rely on this information as legal advice. Legal matters are often complicated. For assistance with your specific legal problem or inquiry please contact me directly.