At The Bishop Law Group, our skilled Baltimore family law attorneys are here to help you navigate the complexities of prenuptial agreements.

We take the time to listen to your concerns, answer your questions, and provide clarity on how a prenup can protect your interests and those of your loved ones.

We understand that discussing a prenuptial agreement may feel overwhelming, and we aim to offer practical and cost-effective solutions tailored to your unique situation. Most importantly, this is your life and your decision; we ensure every step of the process is handled with your full involvement and approval. 

If you are seeking an experienced and compassionate family law attorney you can trust, call The Bishop Law Group today to discuss the details of your case.

Founded in 2018 by Brian Bishop, our firm proudly serves clients throughout Maryland, including Baltimore, Ocean City, and other nearby areas. 

Prenuptial Agreements: What You Should Know

What is a Prenuptial Agreement?

A prenuptial agreement, often called a “prenup” or “premarital agreement,” is a legal contract between two people planning to get married. It outlines the rights and interests of each person in the relationship, and in exchange, they agree to marry.

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Why Consider a Prenup?

Common Misconceptions

Many believe prenuptial agreements are only for wealthy individuals or trust fund beneficiaries. However, they can be useful in protecting the interests of various family situations.

Protecting Children from a Previous Relationship

If you have children from a prior relationship, a prenup can ensure they inherit your assets after your death. Without one, state inheritance laws might direct these assets to your surviving spouse. This type of agreement can help safeguard your children’s inheritance.

Providing Support for a Homemaker or Caregiver

A prenup can establish alimony arrangements, such as a percentage of the wage-earner’s income, or other financial support. This could continue for a set time or until children reach a certain age.

Protecting Family or Closely Held Businesses

If one partner owns a business, a prenup can protect their share of the business in case of divorce. Similarly, if a family business is expected to be inherited later, a prenup can prevent a spouse from claiming an interest in the business, preserving the family’s legacy.

Securing Retirement Benefits

Couples marrying later in life often worry about retirement assets, such as pensions or veteran’s benefits, being divided in divorce. A prenup can clarify who retains these assets, ensuring financial security in retirement.

The Pros and Cons of Prenuptial Agreements

Addressing Tough Topics Early

Some find discussing prenuptial agreements uncomfortable, fearing it sets the stage for divorce. However, these conversations can relieve stress and ensure mutual understanding about financial matters before marriage.

Simplifying the Divorce Process

If a divorce does occur, a prenup can reduce the emotional and financial strain by clearly outlining how assets should be divided. It also helps families handle estate planning after one or both spouses pass away.

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Maryland’s Approach to Prenuptial Agreements

Maryland does not follow the Uniform Prenuptial Agreement Act. Instead, prenups are treated like any other contract. To be valid in Maryland, a prenuptial agreement must:

• Be in writing.
• Be signed by both spouses.
• Allow both spouses to consult their own attorneys (even if they choose not to).
• Include full financial disclosures or a waiver of that right.

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When Courts May Ignore a Prenup

While prenuptial agreements are legally binding, there are exceptions. Courts might disregard them due to:

• Fraud
• Duress or coercion
• Mistakes
• Undue influence
• Incompetence
• Unconscionability (if terms are excessively unfair)

For instance, presenting a prenup at the last moment or failing to provide financial disclosures may lead to it being invalidated. Additionally, a prenup cannot dictate child custody or child support terms, particularly for children not yet born.

Legal Guidance on Prenuptial Agreements

If you, or someone you know, are considering a prenuptial agreement, legal advice is essential. The Bishop Law Group offers consultations to guide you through the process step by step.

Contact our team to schedule a consultation.

Call or text (410) 390-3101 or complete a Free Case Evaluation form