Monthly Archives: September 2022

When to Consider a Postnuptial Agreement in Maryland

Most people have heard of a prenuptial agreement (prenup), but have you heard of a postnuptial agreement? Postnuptial agreements are becoming more popular amongst married couples in Maryland.

Prenuptial Agreements vs. Postnuptial Agreements

Despite taboos in earlier years, prenuptial agreements have become universally known and widely used. What was once viewed as an unromantic and even downright foreboding contract between two soon-to-be-married partners, is now accepted as a sensible way to protect assets before entering into a marital arrangement. This is especially true as more couples decide to marry later in life after their careers have already been established.

Lesser known, however, and useful in many circumstances, are postnuptial agreements. Postnuptial agreements are legally enforceable contracts entered into during marriage that govern the couple’s assets in the event of divorce. In Maryland, already married couples can legally enter contracts governing their finances, with limited exceptions (Maryland Code, Family Law Section 8-101).

Postnuptial agreements can be a useful tool for clarifying ownership and rights to personal property between a couple, thereby promoting harmony in marriage by eliminating the stress of financial uncertainty for either or both spouses.

Similar to prenuptial agreements, postnuptial agreements benefit both parties in allowing for a more level-headed, amicable disposition of finances than often occurs in the heat of a divorce. Postnuptial contracts are also like prenuptial agreements in that they ensure that the delays and imposition of a court’s disposition of marital property will be circumvented in place of more expeditious and customized needs of the couple. Postnuptial agreements also help promote goodwill and family unity if divorce occurs. Additionally, costs are minimized by avoiding protracted litigation, benefiting all parties including the children.

Like prenuptial agreements, marital property, aspects of alimony, income tax, life insurance, health insurance, retirement benefits, and other financials may be disposed of under postnuptial agreements. Child support and child custody may not be agreed upon as part of a pre or postnuptial contract, as courts maintain the authority to determine the best interests of the children. Postnuptial agreements have an advantage over prenups in that the couple has more knowledge of their actual post-marital circumstances and routines and may be better informed to fine-tune their financial needs than they would have been before the marriage.

When to Consider a Postnuptial Agreement

Some of the reasons couples may choose to execute a postnuptial agreement include the following:

The couple intended to execute a prenuptial agreement but simply ran out of time during the busy pre-wedding stage.
The couple had not intently considered their financials pre-wedding but decided after the marriage that it is wise to agree upon well before any potential marital breakdown.
A party is seeking protection and peace of mind following a significant marital rift or incident of infidelity.
A change in finances, including the acquisition of a business, significant inheritance, job loss, or new salary structure leads one or both parties to seek financial clarity in the event of a divorce.
Financial imbalances because of unexpected homemaking or child-rearing responsibilities, etc., become apparent after the marriage, and the lesser monied spouse seeks financial assurance.
A dispute arises between the already married couple regarding a significant aspect of their finances or future financial plans.

Postnuptial Agreement Requirements

As with prenups, a postnuptial agreement must be in writing and signed by both spouses. Accounts of discussions, or oral agreements, are not enforceable. Both spouses must disclose their assets and debts before signing unless both spouses agree to waive the right to receive this information. A postnuptial agreement must be signed when spouses are of sound mind, and not under fraud or duress.

Each party should retain their own attorney to ensure their best interests are protected and addressed in this legally enforceable contract. Our attorneys at TNS can help you preserve your marital assets as well as familial harmony by drafting an agreeable and prudent postnuptial agreement for you and your spouse. Please contact TNS Family Law to discuss your optimal course of action.

If you have questions about postnuptial agreements, please contact TNS Family Law at (410) 339-4100 or info@tnsfamilylaw.com. Our team of attorneys is here to help guide you.

How to Ensure a Child-Centric Divorce

Although getting a divorce may be the healthiest thing to do for your family in the long run, it is important not to disregard the negative effects it can have on your children. The decision to do so alters your family unit and will impact their lives in profound ways, for better or for worse. To protect your children’s health and well-being, you will need to advocate for their best interests and take immediate steps to mitigate their emotional trauma.

At TNS Family Law, we have decades of experience helping families navigate the divorce process. Here are our tips and recommendations for how to ensure a smooth transition for your children to this new family dynamic

Tell Your Children as a Team

When telling your children about your divorce, it is important to put aside any hard feelings you may have for one another and present it as a team. Only communicate facts that will affect your children in the immediate future and reassure them that they will still have a close family even though it is being restructured.

Keep Negotiations Civil

A hostile divorce can put an immense amount of stress on your children. To reduce the likelihood of extreme contention between you and your ex, focus on the children’s best interests. And if possible, finalize the divorce outside of court to avoid the often taxing and tumultuous divorce trial process. For example, you can hire a mediator or collaborative divorce team that you and your spouse feel comfortable with to negotiate your divorce and custody agreements. Keep negotiations as civil as possible and focus on working together to achieve the best outcome for your children.

Consult With a Therapist or Mental Health Professional

During the divorce process, emotions are bound to run high. A therapist or mental health professional can equip you with the coping mechanisms needed to deal with these emotions healthily. They also provide you with an unbiased and private outlet for all your thoughts and emotions. Professional help adds another layer of protection against an adversarial divorce and can help you focus on protecting your children.

Collaborate on a Fair Custody and Visitation Agreement

In most cases, children should have a close relationship with each of their parents, so try to avoid the knee-jerk reaction of seeking as much time with them as possible. Instead, propose a schedule that is fair and equitable. Your consideration and generosity now will encourage goodwill with your ex for years to come.

Rely on Extended Family and Close Friends

Family and friends can be helpful resources during this trying time. Do not hesitate to rely on them. There is no shame in asking to delegate some childcare responsibilities to loved ones while you are busy with the many “chores” related to uncoupling. They may enrich your children’s lives in new ways as well.

Find New Ways to Bond with Your Children

Now is a great time to consider introducing or diving into your children’s interests with them. If they love the outdoors, prioritize quality time outdoors together. Spending quality time together and forging new interests are great ways to alleviate stress. Creating these positive memories will also reassure your kids that family bonding experiences will remain central in their lives.

Split Finances Fairly

Even financial decisions should be made with the interests of your children in mind. Your kids deserve healthy and happy parents, and can sense distress from a mile away. During negotiations, each spouse should seek to fulfill their most important needs while also accommodating those of the other. A good divorce attorney can help you negotiate a fair agreement that leaves both parties feeling acknowledged and respected.

Finally, do not feel guilty about your decision to divorce. Your own health and happiness affect your children as well. And remember, you are making the best decision for your family in the long run. Stay vigilant about their emotional health during this time and do your best to ease them into this new family dynamic.

For questions about divorce, please contact TNS Family Law at (410) 339-4100 or info@tnsfamilylaw.com. Our team of attorneys is here to help guide you.