Engaged couples can get easily overwhelmed with the planning of the actual wedding event. From choosing the perfect Texas venue to finding the best tasting cake, nailing down all the details can be a time-consuming, all-encompassing life event. But little details, like a prenuptial agreement, can often be overlooked and could have heartbreaking consequences later down the road. In the unfortunate event that a couple should divorce, a properly executed agreement can help lessen the guilt and anger that divorces can sometimes create.
There are key items to consider when sitting down with a knowledgeable family law attorney to draw up a prenuptial agreement. Defining what is brought into the marriage by each spouse and keeping that, as well as any interest or value that accumulates over time on the assets, as separate can help couples to lay a clear understanding of what is not on the chopping block should a divorce present itself in the future. Clearly stating that any gifts given to a spouse, regardless of monetary value, will remain the sole property of the receiver can help to thwart off any revenge taking of items should a divorce become bitter.
Protecting retirement accounts is crucial, should a divorce ever occur. Many young couples neglect to think about retirement money as couple money. Understanding that any monies placed into a retirement account during a marriage is typically considered community property and distributed accordingly.
A divorce is not something that engaged couples think they will ever have to face. Unfortunately, divorce has become relatively common in the state of Texas. Having a prenuptial agreement can help to ensure that each spouse is well aware of where the money and assets go, according to how they are defined in a properly executed prenuptial agreement.
Source: popsugar.com, “What Are the Most Important Things to Include in a Prenup?“, Nicole Yi, July 5, 2017