Of course, the last thing one wants to think about is the end of a marriage before they are even married. But, the reality in Texas and around the country is that approximately half of all marriages will ultimately end in divorce. And, as most Americans have experienced or heard, divorces can be costly and messy.
After all, if one were able to work with their soon-to-be ex-spouse, they would not be getting divorced in the first place. This is one of the reasons why more and more couples are deciding to form prenuptial agreements, often called prenups or postnuptial agreements.
Several topics can be discussed and determined in a prenup. In addition to property obtained during the course of a marriage, one can list specific wishes of property and assets, as well as family property, such as heirloom or businesses, to fellow family members or even children.
One can also protect oneself against a future spouse’s debts. Prenuptial agreements can include a mutually agreed upon process on handling finances during the course of a marriage, such as the management of bills, expenses, credit card spending, bank account deposits and withdrawals.
Although a prenuptial agreement may be drafted and written without the help of a professional, there are certain elements that are not allowed to be included in a prenup. Failing to follow the rules could lead to the entire document being discarded and not accepted. It would be in each party’s best interest to have the document reviewed by a family law or divorce lawyer to make certain that the prenuptial agreement would hold up in court.
Source: FindLaw.com, “What Can and Cannot be Included in Prenuptial Agreements,” accessed on April 24, 2017