A Maryland prenuptial agreement is a legal document that helps couples define the ownership of assets and financial holdings in case of a divorce or death. Both parties must disclose their assets and liabilities before drafting the agreement.
Ensuring the agreement is fair to both parties is crucial, and each spouse should have legal representation when reviewing the contract. This will ensure that the court recognizes the document as a fair and impartial representation of both parties’ interests.
Legal Considerations
Laws:
- § 8-101 – Deeds, agreements, and settlements valid
- § 8-102 – Deed or agreement not bar to divorce
- § 8-103 – Modification of deed, agreement, or settlement
- § 11-101(c) – Award – In general
Signing Requirements: Both parties must sign a written agreement to be valid. (Barbara Ann Stewart v. James Edward Stewart. No. 0249, Sept. Term, 2011)
Dividing Property: Equitable division. (§ 8–205)
Enforceability Requirements
- Essential Terms for Validity: Must be in writing, signed by both parties and executed voluntarily and without coercion or fraud.
- Content: May cover alimony, property division, and other financial matters, but it cannot restrict a court’s power to decide on child custody, visitation, or child support.
- Court Enforcement: If the agreement meets the requirements for validity, it will generally be enforced as written. However, if the agreement is deemed unfair or unconscionable, the court may modify or refuse to enforce it.
- Modification: Can be amended if both parties agree or if there is a substantial change in circumstances.
