Planning for the future is a key component of many happy marriages. Prior to the ceremony, the happy Texas couple plans the wedding, the honeymoon and the first part of their life together. One other area in which they need to plan is their financial life. For many, the development of a prenuptial agreement is a good place to start.
These days, many couples have already established themselves financially prior to getting married. They are usually secure in their careers, and they likely already possess a number of assets. As a result, they will also want to protect themselves in case things do not work out or if one of them dies.
A prenuptial agreement is often thought of as a tool used to plan for divorce. Many unfortunately believe that it is used to keep one of the parties from having anything if this happens. However, this is far from the truth. The prenuptial agreement is a financial planning tool that allows the couple to discuss their current financial situation, how they want assets distributed in case of an untimely death and how assets should be handled if a divorce is the final outcome.
As couples wait to marry until they are more mature, their need for financial planning increases. In order to protect their financial future, each individual will want to work with an attorney to develop a prenuptial agreement that addresses both current and future concerns. Rather than risk letting the Texas courts decide how assets should be distributed in case of divorce or death, a prenuptial agreement allows the couple to make these decisions ahead of time.
Source: vegasinc.com, “Why successful couples need a prenup”, Brian P Eagan, March 6, 2017