Frost Law
As the new season of Love is Blind hits screens, audiences watch as the relationships evolve. While reality television often paints an idealistic picture of love, the financial realities of marriage are much more complex and can lead to challenges down the road. No season more than this has highlighted the different opinions and ideas of the financial plans individuals take into a marriage.
The synopsis of Love is Blind: this show takes couples into “pods”, where a contestant meets potential matches (through a wall) in order to ensure that physical appearance doesn’t influence their connection. If a strong connection forms, one contestant will propose, sight unseen. If the proposal is accepted, the couple will finally meet face-to-face. The couples then have an engagement period of approximately four weeks where they go on a short vacation, and then back to their real lives to see if they can make it in the real world. The journey culminates in a wedding day where each couple decides if they will get married, and if love is “truly blind”.
This season of Love Is Blind features singles from Minneapolis, Minnesota. From which comes the unfolding of the relationship of Devin and Virginia. This couple, who meet through the unconventional format of the show, face the reality of blending their lives and finances. Virginia, a former NBA dancer, now healthcare recruiter, shocked Devin this season with her request that the couple sign a prenuptial agreement. Not only did Devin have concerns, but his family also questioned Virginia as to why they would need a prenuptial agreement if they don’t plan on getting a divorce.
Virginia’s answer to this question left many viewers frustrated, with her simple, “it’s the business of marriage,” and “I don’t know, it just makes sense to me.” For Devin and Virginia, who come from different financial backgrounds and have varying personal goals, a prenuptial agreement would be an important tool to ensure that both parties are protected in the event of unforeseen complications. Whether it’s managing Virginia’s career aspirations or Devin’s business ventures, a prenup could help define how their assets will be treated should their relationship face a challenge, be it divorce or death.
At its very core, a prenuptial agreement (also known as an antenuptial, premarital agreement, or prenuptial contract) is a contract between two people, made before and in contemplation of marriage, which determines each spouses financial rights and obligations, such as property division and alimony, in the event of divorce or death.
Although these agreements have flexibility, there are matters that a prenuptial agreement cannot cover: you cannot contract before marriage to divorce afterward, you cannot determine child support or child custody, you cannot make someone promise to get married, and there is no legal action for alienation of affections.
As Devin’s family implied, people often think that you only need a prenuptial agreement if you are anticipating divorce. This is a common misconception among couples who are contemplating marriage. Much like other estate planning documents, in lieu of having a document that you prepare with your attorney and create with your unique set of family dynamics, planning, and ethics in mind, if you do not have a prenuptial agreement, your state gets to dictate the rules of your marriage. You may like the rules of your current state, but your marriage could take you to a different state with cumbersome (and most importantly) expensive ways to determine a divorce agreement.
You may not even feel like you need a prenuptial agreement, but your family might. Those with inherited wealth often seek prenuptial agreements for family members to protect family assets such as a family business.
Couples with income disparity may also be interested in prenuptial agreements to both protect assets they bring into a marriage, but also to control assets that are accumulated during a marriage. This can be important for the protection of a stay-at-home spouse who gives up their career to be a caretaker of children.
Prenuptial Agreements are also extremely important for blended family arrangements or second and subsequent marriages.
Though not discussed on the show, a pivotal role of the prenuptial agreement is to predetermine what happens at your death. Although a Last Will and Testament and/or Revocable Trust will do most of the heavy lifting, a prenuptial agreement will account for distributions or waivers of distributions that cannot be done by either of those documents.
In Maryland, a spouse cannot be fully disinherited. The Elective Share provision allows a surviving spouse to claim a portion of the deceased spouse's estate, with the amount depending on whether the deceased had surviving children. A prenuptial agreement can waive the elective share, instead specifying a mutually agreed-upon distribution of assets upon death, while also allowing for additional distributions based on other estate planning arrangements. This can be especially important for those individuals who have children of a prior marriage who seek protection for those children’s inheritance.
Prenuptial agreements play a crucial role in estate planning by helping couples clearly define asset distribution and protect their interests in the event of death or divorce. These agreements can prevent potential disputes, safeguard personal assets, and ensure that both parties’ wishes are honored. Although Devin and Virginia, despite actually agreeing that a prenuptial agreement was a good idea and eventually signing a prenup, were not able to make it down the aisle, for those who do, prenuptial agreements provide an added layer of security for partners who may face unexpected challenges. By planning ahead, couples can foster trust and stability, knowing that their financial future is well-structured, regardless of what may come. Contact our team today at (410) 497-5947 or scheudle a confidential consultaiton to get started.
As the new season of Love is Blind hits screens, audiences watch as the relationships evolve. While reality television often paints an idealistic picture of love, the financial realities of marriage are much more complex and can lead to challenges down the road. No season more than this has highlighted the different opinions and ideas of the financial plans individuals take into a marriage.
The synopsis of Love is Blind: this show takes couples into “pods”, where a contestant meets potential matches (through a wall) in order to ensure that physical appearance doesn’t influence their connection. If a strong connection forms, one contestant will propose, sight unseen. If the proposal is accepted, the couple will finally meet face-to-face. The couples then have an engagement period of approximately four weeks where they go on a short vacation, and then back to their real lives to see if they can make it in the real world. The journey culminates in a wedding day where each couple decides if they will get married, and if love is “truly blind”.
This season of Love Is Blind features singles from Minneapolis, Minnesota. From which comes the unfolding of the relationship of Devin and Virginia. This couple, who meet through the unconventional format of the show, face the reality of blending their lives and finances. Virginia, a former NBA dancer, now healthcare recruiter, shocked Devin this season with her request that the couple sign a prenuptial agreement. Not only did Devin have concerns, but his family also questioned Virginia as to why they would need a prenuptial agreement if they don’t plan on getting a divorce.
Virginia’s answer to this question left many viewers frustrated, with her simple, “it’s the business of marriage,” and “I don’t know, it just makes sense to me.” For Devin and Virginia, who come from different financial backgrounds and have varying personal goals, a prenuptial agreement would be an important tool to ensure that both parties are protected in the event of unforeseen complications. Whether it’s managing Virginia’s career aspirations or Devin’s business ventures, a prenup could help define how their assets will be treated should their relationship face a challenge, be it divorce or death.
At its very core, a prenuptial agreement (also known as an antenuptial, premarital agreement, or prenuptial contract) is a contract between two people, made before and in contemplation of marriage, which determines each spouses financial rights and obligations, such as property division and alimony, in the event of divorce or death.
Although these agreements have flexibility, there are matters that a prenuptial agreement cannot cover: you cannot contract before marriage to divorce afterward, you cannot determine child support or child custody, you cannot make someone promise to get married, and there is no legal action for alienation of affections.
As Devin’s family implied, people often think that you only need a prenuptial agreement if you are anticipating divorce. This is a common misconception among couples who are contemplating marriage. Much like other estate planning documents, in lieu of having a document that you prepare with your attorney and create with your unique set of family dynamics, planning, and ethics in mind, if you do not have a prenuptial agreement, your state gets to dictate the rules of your marriage. You may like the rules of your current state, but your marriage could take you to a different state with cumbersome (and most importantly) expensive ways to determine a divorce agreement.
You may not even feel like you need a prenuptial agreement, but your family might. Those with inherited wealth often seek prenuptial agreements for family members to protect family assets such as a family business.
Couples with income disparity may also be interested in prenuptial agreements to both protect assets they bring into a marriage, but also to control assets that are accumulated during a marriage. This can be important for the protection of a stay-at-home spouse who gives up their career to be a caretaker of children.
Prenuptial Agreements are also extremely important for blended family arrangements or second and subsequent marriages.
Though not discussed on the show, a pivotal role of the prenuptial agreement is to predetermine what happens at your death. Although a Last Will and Testament and/or Revocable Trust will do most of the heavy lifting, a prenuptial agreement will account for distributions or waivers of distributions that cannot be done by either of those documents.
In Maryland, a spouse cannot be fully disinherited. The Elective Share provision allows a surviving spouse to claim a portion of the deceased spouse's estate, with the amount depending on whether the deceased had surviving children. A prenuptial agreement can waive the elective share, instead specifying a mutually agreed-upon distribution of assets upon death, while also allowing for additional distributions based on other estate planning arrangements. This can be especially important for those individuals who have children of a prior marriage who seek protection for those children’s inheritance.
Prenuptial agreements play a crucial role in estate planning by helping couples clearly define asset distribution and protect their interests in the event of death or divorce. These agreements can prevent potential disputes, safeguard personal assets, and ensure that both parties’ wishes are honored. Although Devin and Virginia, despite actually agreeing that a prenuptial agreement was a good idea and eventually signing a prenup, were not able to make it down the aisle, for those who do, prenuptial agreements provide an added layer of security for partners who may face unexpected challenges. By planning ahead, couples can foster trust and stability, knowing that their financial future is well-structured, regardless of what may come. Contact our team today at (410) 497-5947 or scheudle a confidential consultaiton to get started.
