Maryland property division may benefit from a prenup

Asking for a prenuptial agreement can often seem like stepping into a minefield fraught with danger at every step. Some Maryland residents feel that seeking a prenuptial agreement can be seen as a lack of trust in the other partner. However, the fact is that prenuptial agreements can provide a way to protect both future spouses in the event that divorce and property division become necessary in the future. When seen in this light, a prenuptial agreement can become one method for couples to engage in an open and honest dialogue concerning financial matters.

One way to ease the path toward negotiating a prenup is to start the discussions on this topic early rather than later. Doing so well in advance of the wedding shows that this is a thoughtful act on one spouse's part rather than an attempt to pressure the other partner into an uneven agreement at the last minute. Negotiating the terms of a prenup should involve fairness for both parties. This typically means that there should be give and take that benefits each future spouse, and it may be a good idea for each person to have a different attorney review the terms before signing.

Honesty can truly be the best policy when it comes to a prenuptial agreement. Maryland couples should fess up to what they want out of a prenup, and which assets they are bringing to a marriage are the most important to them. They should also consider listening with an open mind to the desires of their future spouse, as well. Being sensitive to both sides of the issue can help reach an agreement that is equitable for all involved and this can help set up the marriage for a greater chance of success.

One final item that can help in discussing property division concerns in a prenup is to provide room for change in the future. Nobody knows what tomorrow will bring and circumstances may shift over time. In the event that one spouse becomes involved in the other's business, or one partner gives up their career to care for the couple's children, a good prenuptial agreement should take these possibilities into account. By keeping this process open and fair for both parties, a prenuptial agreement can be seen in a more positive and beneficial light.

Source: Entrepreneur.com, "How to Ask Your Partner for a Prenup," Nadia Goodman, June 19, 2013