Filing for divorce is an unfortunate reality for many Texas couples. Perhaps because more spouses are accepting the possibility of separation, prenuptial and postnuptial agreements are becoming increasingly common. A prenup can make the process of divorce simpler and easier.
A prenuptial agreement is executed by the parties prior to the marriage while a postnuptial agreement may be entered into after the parties are already married. One advantage of having a prenup is that each side is able to consider their future financial interests well before any problems arise in the marriage. This can prevent the parties from needing to negotiate these issues during a divorce when both sides are facing emotional stress.
Prenups typically address some of the following issues: division and use of marital property, division of debt, what will happen to future inheritance earnings acquired during the marriage and the amount and duration of alimony payments. A prenup may also address the obligation to create a will or trust for distribution of property upon death.
Choosing to get a prenuptial agreement is a decision that many couples struggle with because they do not want to think about the possibility that their marriage may end. However, many high-profile couples are now signing prenuptial agreements to reduce the drama that can come with a divorce.
An attorney may be able to assist someone who is thinking about entering into a prenuptial agreement. A carefully drafted prenup can help both parties feel more secure because they don’t have to wonder about what will happen to their most important assets if the marriage doesn’t work out.