Why All Couples In Texas Can Benefit From A Prenuptial Agreement
By creating a prenuptial agreement, engaged couples are given the opportunity to discuss difficult financial issues that could affect their marriage.
Prenuptial agreements are legal contracts that couples in Texas can create before getting married to outline how assets will be divided in case their marriage ever ends in divorce, states USA Today. While prenuptial agreements are normally associated with marital property, these agreements can be used to address other concerns, like tax liabilities, credit card spending, the cost of raising a child or the costs and proceeds associated with business ownership.
Prenuptial Agreements Aren’t Just For The Wealthy
According to USA Today, when couples work on the terms of their prenuptial agreement, they are given the opportunity to uncover issues that could be disastrous if they were not discussed until several years into their marriage. These agreements can also help couples determine if any differences in their attitudes toward finances exist. For example, if one future spouse is a significant spender while the other is focused on saving, a prenuptial agreement can help the couple come to an agreement on these issues before they become a larger problem later on.
Asking For A Prenuptial Agreement
Although prenuptial agreements can protect spouses financially in the event of a divorce and can also be used as a way to establish marital transparency, future spouses may be hesitant to talk about drafting one of these contracts with their partner. To make the conversation easier, Entrepreneur states that future spouses should:
- Discuss the need for an agreement well before the wedding — Future spouses should bring up the subject of drafting a prenuptial agreement soon after they get engaged to establish an open line of communication between themselves and their partner.
- Be open and honest with their partner — Those who are getting married in the near future should talk about why they want to draft one of these agreements with their partner and disclose any experiences that might have contributed to this desire.
- Determine the terms of the agreement with their partner — Future spouses should avoid presenting their fiancée with a pre-drafted prenuptial agreement. Instead, they should collaboratively work on the terms of this agreement with their partner.
- Listen to their partner’s concerns — After presenting the idea of creating a prenuptial agreement, future spouses should listen to their partner’s perspective about doing this with an open mind.
Once the decision to create a prenuptial agreement is made, engaged couples in Texas should seek legal assistance to ensure that the terms in their contract are legally enforceable. If you and your future spouse’s wedding date is approaching, speak with an attorney in your area to start the prenuptial agreement drafting process.
Keywords: divorce, prenuptial, agreement, contract