Texas residents who are planning on getting married might wonder whether they need a prenuptial agreement. There are a number of reasons that one person might want a prenup including to protect children from a previous marriage or to shield an existing business. While a prenup might seem as though it is contrary to the ideas of a wedding, it can actually be an opportunity for couples to discuss and clarify their attitudes about money, spending and saving.
The two people may be entering the marriage with different income levels and assets, and a prenup can help them decide how they will handle this disparity. A prenup can also protect one partner if the other is entering the marriage with significant debt. Couples can talk about how they will handle finances during the marriage. They can also talk about priorities and what they prefer to spend their money on, and they can do so in an environment that is relaxed.
Helping to contribute to this relaxed environment can be a trained mediator. Each party should have their own separate attorneys look over the agreement once it has been reduced to writing. The agreement should be fair to, and understood by, both parties.
Couples can also create a postnuptial agreement although these may be scrutinized even more closely because a court may consider the potential even greater that someone could be coerced into signing one. If both parties approach the prenup in the spirit of making sure that property is divided fairly, they are likely to end up with a document with which both are satisfied.