When preparing to marry, most people are not considering the possibility of that relationship ending at some point in the future. However, the reality is that many marriages do end in divorce, and it may be beneficial to prepare for that possibility. One way a Texas adult can do that is by drafting a prenuptial agreement. This can help one protect his or her personal investments before entering a marriage.
Long-term financial protection
A prenuptial agreement is a legally binding contract that allows a couple to determine how they will divide their marital property in the event of a divorce. It also provides the opportunity to clearly designate which assets are separate, which may include investments made before the marriage. The contract can clearly specify which assets, such as investment accounts, are not eligible for division in divorce.
However, it can be complicated to write a prenup in a way that will provide protection for future assets not yet obtained. While current investments may be protected, future profits from those investments may not be. It is important to have experienced guidance when handling these sensitive and complex financial matters in a marital contract.
Confidence and peace of mind
Drafting a prenuptial agreement does not mean that someone believes a marriage will end at some point in the future. However, it can provide one with peace of mind knowing that personal interests are secure in the event of an unexpected situation. When considering the benefits of a prenup, it will be helpful to work with an experienced Texas family law attorney.