Many people hesitate to seek outside help when it comes to dealing with family issues. In fact, there are times when the advice of a family law attorney in Bel Air, MD will go a long way toward resolving a conflict. Here are some examples of situations in which consulting an attorney makes a lot of sense.
Getting Married for a Second Time
Going through a divorce does leave many people gun-shy about getting married again. This is especially true when things were rough financially after the split. Now that the idea of getting married again is on the table, there are some concerns about protecting assets in case the new marriage does not work out.
A family law attorney in Bel Air, MD can explain the benefits provided by a prenuptial agreement. This type of document can be drafted to protect the interests of both parties by specifying that all assets brought into the union by each person will remain theirs if the marriage does not work out. The terms can also address how any assets acquired during the marriage will be divided if a split takes place. While the plan is to make this marriage work, it never hurts to be prepared.
Family Corporations
Some families with extensive assets will want to make sure each of the children have a source of income once the parents pass away. In this scenario, a family corporation is put in place. The terms will allow each child to receive benefits from the funds generated by the assets held by the corporation. That can create a financial cushion that the child can choose to save, invest or use for personal expenses.
Last Wills and Testaments
Creating joint wills is something every couple should look into carefully. One common arrangement is for all assets to be left to the surviving spouse, and once both spouses pass away, the family assets are passed on to the kids in accordance with the terms of the will.
For anyone who is facing a legal matter that would impact the family in any way, today is the day to contact Maria Caruso in Bel Air, MD and set up an appointment. Doing so will be the first step toward being prepared for whatever the future may bring.
