Premarital agreements, or prenuptial agreements, provide couples with a way to establish financial terms before marriage. These agreements are generally enforceable under certain conditions. They must meet certain requirements for them to hold up in court.
Requirements for enforceability
To be legally binding, prenups must meet several requirements. Both parties must sign the agreement freely, without any pressure or coercion. If one party proves that the other forced or threatened them into signing, the agreement becomes invalid. It’s also important for each party to fully disclose their assets, income, and debts before signing. If one spouse hides financial information, the agreement can face challenges if both parties end up in court.
Above all, the terms of the agreement must be fair. If the agreement is extremely one-sided or signed under unfair conditions, the court may refuse to enforce it. Finally, Maryland law requires the agreement to be in writing and signed by both parties. Oral agreements hold no legal weight.
Limitations of premarital agreements
While premarital agreements cover many financial aspects, they cannot include certain matters. For example, the law prohibits prenuptial agreements from determining child custody or support. The court will decide these matters based on the child’s best interests during divorce or separation.
Understanding your rights in premarital agreements
Clear communication and thoughtful planning can make a significant difference in future financial security. Couples who take the time to establish solid premarital agreements lay a stronger foundation for their relationship. Taking proactive steps ensures smoother outcomes, no matter what the future holds.