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Prenuptial agreement helps with death or divorce

On Behalf of | Sep 25, 2018 | Prenuptial Agreements |

Virtually every Texas marriage will end with either death or divorce. In either case, assets will need to be distributed and bills will need to be paid. Exactly how this will occur can be addressed ahead of time. In fact, many couples choose to handle these issues through a prenuptial agreement prior to marriage.

In some instances, an individual may wish to leave certain assets to someone other than the spouse upon death. Perhaps there are children from a previous relationship that should receive a specific item or certain assets. Or, perhaps a special item has sentimental value to a friend or other family member. In this case, these concerns can be addressed ahead of time in the prenuptial agreement. Then, upon the death of the individual, there is no question as to how these assets should be distributed.

Additionally, it is possible that the marriage can end in divorce. While this is not the plan going into the marriage, it is unfortunately the reality for numerous married couples. In order to protect assets and minimize dissension later on, the prenuptial agreement can address how assets and liabilities will be addressed if this becomes an issue.

One of the first steps in creating the prenuptial agreement is to fully disclose both assets and liabilities. Without this, the other individual will be unable to make a fully informed decision regarding the agreement. Furthermore, this is a topic that is best discussed with plenty of time remaining before the wedding date so as to avoid undue distress for the Texas couple. Each individual will want to be represented by legal counsel.