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Entering into a marriage is a major life decision that requires substantial thought about your future. Married couples share finances, debt, property, and life responsibilities. A prenuptial agreement is one way for couples to discuss their financial future and plan for the unexpected.
While prenups have been scorned for being unromantic, they are becoming increasingly recognized as a responsible part of life planning that often brings couples closer. If marriage is in your future and you are considering the benefits of a prenuptial agreement, an experienced Round Rock prenuptial agreements lawyer could help you. A marital contracts attorney can share valuable information about what your prenup could include and help you and your future spouse draft an agreement tailored to your unique wishes.
It’s a common misconception that signing a prenup is equivalent to entering a marriage with plans of divorce. In reality, prenuptial agreements allow you to agree on the best way to protect your assets and handle debt fairly. Having these discussions before marriage could help you avoid arguments about taking on new debt or other financial decisions. Some of the most common reasons couples reach out to a Round Rock attorney to help them draft a prenup include the following.
In Texas, assets gained during a marriage become community property to be divided equally in the event of divorce, whereas debts are often divided more informally. This is not always the best option for spouses who want to protect their existing assets. For example, when one spouse enters the marriage with substantial assets, inheritance, or business equity.
Even when substantial assets are not involved, you may want to develop an agreement about how assets should be divided if the relationship ends. This may be to protect assets for children from previous marriages or another agreement based on your unique financial situation.
Discussing spousal support may be a productive way to approach joint financial planning with your partner. Setting clear spousal support arrangements in a prenup could give you both peace of mind when making decisions about one of you pursuing a lucrative career while the other works part-time. It can also reduce concerns regarding expensive litigation in the event of divorce.
Finances are the underlying cause of many disagreements between couples. Developing a premarital agreement that determines how debt will be divided if your marriage ends can relieve stress about taking on debt to reach individual goals.
Many people think prenups are a waste of time because they will not be enforced in court. However, this is a misconception, too. As long as they meet legal requirements, prenuptial agreements are typically upheld in court—all the more reason to consult a knowledgeable Round Rock attorney. Prenups are legally enforceable in Texas when the following conditions are met:
While legal representation is not always required for a prenup, we could help ensure all requirements are met and strengthen your document’s enforceability.
If you have plans to get married and have questions about whether a prenup is right for you, an experienced Round Rock prenuptial agreement lawyer could help. Our attorneys at Kimbrough Legal, PLLC, could draft a prenup tailored to your needs or review an agreement you and your future spouse have already prepared. Contact us today to schedule a consultation.