Texas residents who are entering into a marriage likely have a lot on their minds. It is undoubtedly an exciting time for many — but it can also be a stressful time. There is often much to consider and a lot of planning to be done. Many of those entering a marriage want to make sure to protect their assets and ensure that their interests will be carried out in the unfortunate event of divorce.
Those entering into a marriage likely do not want to think about divorce. But considering the divorce rates in Texas and the greater U.S., it often makes sense to consider divorce as a very real possibility. This is where a prenuptial agreement can come into play.
Many people may fear having to discuss prenuptial agreements with their future spouse. However, it is a conversation that can help ease the mind of both parties. Both partners entering into a marriage often have concerns about finances. Many disagreements can be avoided simply by signing a prenuptial agreement. Finances, property and a marital asset arrangement can all be arranged.
A prenuptial agreement can document each spouse’s separate property. It can also support an estate plan and help the drafter of the prenuptial agreement avoid a court decision. There can also be a distinction made between what is considered marital property, and what is considered community property. And, in general, it can often help to reduce conflicts in a divorce.
Having the conversation with a future spouse about whether or not to sign a prenuptial agreement may be a source of anxiety for some. However, it is often an important a useful conversation to have.
Source: FindLaw, “How to Determine if a Prenuptial Agreement is Right for You,” Accessed on March 27, 2017