Planning for a wedding is stressful — dealing with various caterers, designers and event managers can cause a lot of anxiety between a couple. And, a prenuptial agreement can add further stress pre-marriage.
Texas residents may be aware that a prenuptial agreement is an agreement a couple enters into before getting married that sets how the separation will take place, should a divorce occur. Many argue that it is a recipe for disaster, as a couple is assuming the inevitability of separation, even before a union has taken place. However, for many, it is a practical step to protect not only their own assets and business interests, but also their children.
Couples who are entering into the marriage with their own business assets may be able to claim them in a divorce, depending on the asset division laws in the state. But, any addition or improvement made upon those assets during the marriage may be subject to a claim.
In addition, a spouse may come into an inheritance from a family member during their marriage.And, if the couple divorces, this inheritancemay be subject to a claim, even though the inheritance is in only one person’s name. Spouses with children from a previous marriage can include provisions about protecting their prior children’s inheritance and assets as well.
In fact, many argue that a premarital agreement only protects each spouse’s interests in the event of a separation, but doesnot cause a separation. If a marriage flourishes, no harm has been done. If a divorcedoes take place, couples can avoid lengthy and acrimonious litigation regarding alimony and asset division and move on with their lives quicker. Nonetheless, it is important to create a fair premarital agreement, and it is often beneficial to have an experienced attorney review one to ensure everyone’s interests are protected.