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pre-& post-marriage agreements Archives

Why parents may want their children to have a prenup

People in Texas who are getting married might want to consider a prenuptial agreement. In wealthy families, it may be the parents who are pushing the need for the agreement. The parents may be concerned about preserving family wealth and making sure that an ex-spouse does not end up with it in the case of divorce.

How post-nuptial agreements work

When Texas couples get married, they usually want to be together for life. Unfortunately, the U.S. divorce rate shows that even people with the best intentions can't always make their marriages work. One common reason for marital discord is that many couples fight about finances. While prenuptial agreements are one way to get couples to talk about finances before marriage, not every couple has one. However, it is still possible to draft a binding financial agreement even after a couple says, "I do."

Positive aspects of a prenuptial agreement

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.

A prenup to plan for a blended family

Texas families come in all shapes and sizes, and so have the blended families resulting from remarriages. Blended families have their own set of issues to deal with and resolve and one of these is how to plan for the financial health of the whole family when these two sides combine. One way to do this is by drafting a prenuptial agreement.

Preparing a pre- or postnuptial agreement

Since Texas is a community property state, a married person might be held responsible for debts incurred during the marriage even if they are in the name of the other spouse. Therefore, the couple may want to consider creating a pre- or postnuptial agreement. Both types of documents may also specify how assets and liabilities will be divided in the event of divorce. These can be particularly useful to protect one spouse if the other one is bringing debts into a relationship or is prone to running up debts. However, these agreements need to be prepared carefully so that their legitimacy is not questioned in court. Postnups may be the focus of particular scrutiny since there could be more coercion around signing one.

Prenups to protect inheritances

Texas parents who are concerned about protecting the inheritance that they want to give their adult children who have not yet married should speak with them about signing a prenuptial agreement. The legal document allows their child and the child's prospective spouse to legally stipulate before they get married what will be each party's property rights should the marriage end.

Getting a prenup

Texas couples who plan to get married in the future many want to consider completing a prenuptialagreement. Prenups are not just for couples who have significant wealth or who have financial disparities. They are legal contracts that provide a way for all couples to be completely open about their financial status before they get married.

When to get a prenuptial agreement in Texas

Before a couple gets married, they can determine how issues will be decided if they end up getting a divorce. While most people don't want to consider the end of a marriage before it has begun, a prenuptial agreement can allow a couple to determine issues that would normally come up in a divorce. These agreements can cover everything from asset division to spousal support.

The importance of prenuptial agreements

Premarital agreements are not exclusive to just high net worth couples. Texans with modest assets may have good reasons to create financial agreements before they get married. Prenuptial agreements can be valuable to those who own a business with other people, who have children from a previous marriage or who expect to inherit a large amount of money in the future.

Who benefits from pre-& post-marriage agreements?

No Texas couple goes into their marriage with the expectation that it will end in divorce. However, there is nothing wrong with putting protections into place for a possible future event. There are many financial and practical reasons why pre-& post-marriage agreements can be beneficial, and we can explain if you should consider any of these legal protections.