A prenuptial agreement (prenup) can help you avoid issues that could arise during your marriage. Everyone goes into marriage with the idea of making it last. In fact, as Valentine’s Day approaches, it can inspire thoughts of romance and lead to wedding plans. It’s a day for couples to commemorate the love they share for each other. Moreover, one of the most loving actions you can take is to lay a strong foundation for marriage. You can do that by addressing potential legal issues before problems arise.
What is a prenuptial agreement?
A prenup is a binding contract made between two people prior to marriage. It defines the parameters of property, debts, and property rights after marrying. Making an agreement ahead of time can reduce the risk of contention over assets after marriage.
What issues can a prenup address?
A prenup can address a number of issues, and not all of them are financial:
- Clarification of assets and financial rights. What property should you keep separate after marriage? Will you be responsible for your spouse’s debts brought into the marriage? You can seek protection against having to pay for debts you did not create. In the event of divorce or death, you can outline how to divide assets. Furthermore, you can waive the right to alimony for both spouses.
- Setting aside property for your children. Some couples may have reservations about marriage because of children from prior marriages. When they die or if they divorce, they want their share of property to go to their children and not to their spouse. A prenup can address these issues so that property passes as they intended. Without a prenup, the spouse could claim a larger share of the spouse’s property.
In the event of divorce or death, if there is no prenup, the courts have to base property division on Texas State laws. The state’s laws may not handle property in the manner you would wish.
The Law Office of Lindsey J. Wilson assists clients with devising prenuptial agreements. We also provide legal representation for clients in cases involving family law, custody and support, divorce, property division and modifications and enforcement.