Nothing can kill the romance and hope of a marriage like discussing the eventual end of it. However, thousands of spouses in Texas and across the country will get divorced this year. This is one important reason why many couples should consider a prenuptial agreement. Prenups can benefit nearly every couple.
What is a prenuptial agreement?
A prenuptial agreement, or prenup for short, is a legal contract that future spouses agree on and sign before getting married, though it only takes effect once the parties do get married. A prenup usually spells out what happens to income and assets should the couple get divorced. It is not usually created with the couple expecting a divorce, but it offers protection in case a divorce happens at some point in the future.
Benefits of a prenup
A common misconception about prenuptial agreements is that they’re only needed for wealthy people with many assets. Nearly every couple can benefit from a prenup. In its most basic form, a prenuptial agreement provides protection, just like insurance. So if there is something one spouse wants to keep should a separation happen, it can be specified in a prenup. Also, creating a prenuptial agreement allows couples to discuss money, so they can get a feel for how each partner will handle financial obligations.
For most couples, considering a prenuptial agreement before marriage is healthy and could one day prove invaluable. If a prenuptial agreement is in place when divorce happens, it can ensure that the process goes smoothly and minimize the emotional and financial effects of a marital breakup. Anyone in Texas who has questions about prenuptial agreements can obtain much-needed guidance and clarity by speaking with a knowledgeable family law attorney.