The financial statement disclosure form is for use in connection with the premarital agreement and must be completed accurately and completely. Both parties are required to complete a separate financial statement and provide a copy of the statement to the other party.
Maryland Financial Statements only in Connection with Prenuptial Premarital Agreement
State:
Maryland
Control #:
MD-00590-D
Format:
Word;
Rich Text
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FAQ
A good prenuptial agreement should be fair. It should be entered into between two consenting adults who know what they are doing. The agreement should be fair when it is signed and entered into, and also fair when it is be enforced, whether in the event of a divorce or death.
Saving and Spending Strategies A prenuptial agreement should address the couple's future financial plans, including investment and retirement strategies. It should also cover how much income is to be paid into joint and/or separate bank accounts, and whether or not their will be any specific spending allowances.
Be in writing. Be signed by both parties of their own free will. They cannot be under duress or be pressured into signing the prenup. Be presented with full disclosure. Be fair and reasonable. Be signed by both parties before a witness and a notary.
A prenuptial agreement ("prenup" for short) is a written contract created by two people before they are married. A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person's property rights will be after the marriage.
The average cost of a prenup ranges from about $1,200 for low-cost, simple agreements to $10,000 for more complicated situations.
Putting the Agreement in Writing. Identify the parties and the document. After titling the document something like Premarital Agreement, you want to identify the two parties by full, legal names and state that they are both willingly entering into the agreement. State the intent of marriage.
The expected cost of a prenuptial agreement is between $1200, for a relatively straightforward write up, to $2400, for a more complicated agreement.
While many states use the Uniform Prenuptial Agreement Act, a set of rules courts used to determine a prenuptial agreement's validity, Maryland is not one of those states. In general, a prenuptial agreement's enforceability is determined in the same way as all other contracts in Maryland.