The breakup of a marriage is a tough situation to go through, yet many people tend to do it more than once. With divorcees having been through the breakup process before, one could assume that they have learned from their mistakes. Recent studies have concluded that this simply is not the case. Many Texas residents on their second or third marriage repeat their mistakes with regard to a divorce and cost themselves more money and anguish in the long run. Prenuptial agreements can help to alleviate the financial mess that the dissolution of a marriage can create, regardless of which number marriage it may be.
Prenuptial agreements are not only for the wealthy. Those who are financially better off than their intended may wish to keep what was theirs prior to the marriage. Those who expect to inherit future assets or provide for their current children should a divorce happen may wish to sit and discuss such an option prior to tying the knot.
Another aspect that those who have been married before may need to consider is estate planning. Most states assume that when a spouse dies, he or she would want all belongings — including money, land and pensions — to go to the surviving spouse and any children. Each would presumably gain half. If this is not something either spouse wishes to unfold, then estate planning, with the aid of an attorney, is the best route to take.
A Texas divorce does not have to leave both spouses financially hurting. Properly executed prenuptial agreements can save the expense and pain of hashing out financial loose ends should a divorce happen. Making the investment now could help both parties plan for a long and happy future together, while also protecting individual concerns should a divorce occur at a later time.
Source: CBS Boston, “Breaking Up is Hard To Do: Second or Third Go Around“, Dee Lee, Aug. 31, 2017