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In Maryland, a prenuptial agreement serves as a crucial tool for couples preparing to marry, allowing them to outline their financial rights and responsibilities before tying the knot. This agreement can address various aspects, such as the division of property, spousal support, and debt management, ensuring that both parties have a clear understanding of their financial landscape. By utilizing the Maryland Prenuptial Agreement form, couples can create a legally binding document that reflects their unique circumstances and preferences. The form requires full disclosure of each party's assets and liabilities, promoting transparency and fairness. Additionally, it is essential for both individuals to enter the agreement voluntarily and without coercion, as this strengthens its enforceability in the event of a divorce or separation. Ultimately, a well-crafted prenuptial agreement can help couples navigate potential conflicts and provide peace of mind as they embark on their marital journey.
Maryland Prenuptial Agreement Preview
Maryland Prenuptial Agreement Template
This Maryland Prenuptial Agreement (hereinafter the "Agreement") is made and entered into on this ______ day of ________________, 20____, (the "Effective Date"), by and between _____________________________________________________________________________, (hereinafter "Party One") and _____________________________________________________________________________, (hereinafter "Party Two").
WHEREAS, Party One and Party Two (collectively referred to as the "Parties") are contemplating marriage to each other; and
WHEREAS, the Parties desire to establish their respective rights and obligations regarding each individual's income and assets before marriage;
NOW, THEREFORE, in consideration of the forthcoming marriage, and pursuant to the Maryland Marital Property Act, Md. Code Ann., Fam. Law §8-101 et seq., and other relevant laws of the State of Maryland, the Parties agree as follows:
- Disclosure of Assets and Liabilities.
Each Party has fully disclosed to the other Party their current financial status, including all assets and liabilities. Attached hereto are Schedules A and B, which list the respective assets and liabilities of Party One and Party Two. - Separate Property.
The Parties agree that the property listed in Schedule A and Schedule B, as well as any property acquired by either Party through inheritance, gift, or personal effort after the marriage, shall remain the separate property of the acquiring Party. - Marital Property.
All property acquired jointly by the Parties during the marriage shall be considered marital property and shall be subject to division as agreed by the Parties or by a court of competent jurisdiction in the event of a divorce. - Alimony, Maintenance, and Support.
The Parties may agree upon alimony, maintenance, or support terms, if any, in the event of a divorce. Without such an agreement, these issues will be settled in accordance with the laws of Maryland. - Amendment and Revocation.
This Agreement may only be amended or revoked by a written document signed by both Parties, which expressly states the intent to amend or revoke this Agreement. - Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of Maryland, without giving effect to any choice or conflict of law provision or rule. - Entire Agreement.
This Agreement contains the entire agreement between the Parties relating to the subject matter herein and supersedes any prior agreements, understandings, or negotiations, whether written or oral.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the first date written above.
Party One: ___________________________________
Party Two: ___________________________________
Notary Acknowledgment
State of Maryland
County of ______________________________________
On this ______ day of ________________, 20____, before me, __________________________________ (notary's name), personally appeared _________________________________ and _________________________________, known to me (or satisfactorily proven) to be the individuals whose names are subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained.
In witness whereof, I hereunto set my hand and official seal.
_____________________________________
Notary Public
My Commission Expires: ____________________
Form Specifications
| Fact Name | Description |
|---|---|
| Definition | A prenuptial agreement is a contract between two individuals before marriage that outlines the division of assets and financial responsibilities in the event of divorce or separation. |
| Governing Law | Maryland law governs prenuptial agreements under the Maryland Family Law Article, specifically § 8-201 to § 8-205. |
| Enforceability | For a prenuptial agreement to be enforceable, it must be in writing and signed by both parties. Oral agreements are not valid. |
| Full Disclosure | Both parties must fully disclose their assets and liabilities. Failure to do so may render the agreement invalid. |
| Independent Counsel | It is advisable for each party to seek independent legal counsel. This helps ensure that both parties understand their rights and obligations. |
| Modification | A prenuptial agreement can be modified or revoked after marriage. This requires a written agreement signed by both parties. |
| Judicial Review | Courts in Maryland will review prenuptial agreements for fairness and may refuse to enforce provisions that are deemed unconscionable. |
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