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Prenups: Protecting the past, present and future

Most Texas family lawyers and financial advisors would likely recommend a prenuptial agreement to anyone planning to marry. For individuals entering a union with a high net worth, a prenuptial agreement's importance grows. Some attorneys even officially recommend a prenup to their clients, keeping a copy of the suggestion in their files so that they are protected later on.

Being protected down the road is what a prenuptial agreement is all about, whether a Houston resident is getting hitched for the first time or marrying after a previous divorce. One of the first obstacles, though, is raising the topic with one's partner without offending the other person. For this reason, some engaged men and women use their financial planners' advice as a starting point. After all, it's usually easier to bring up a touchy subject at someone else's recommendation rather than at one's own insistence.

When the issue is raised, it's best to focus the matters on how both individuals are protected in the event of divorce. If one spouse has a far-higher net worth than the other, a prenup is still valuable to both because a long drawn-out legal battle negatively affects everyone. It's also important for couples to know that a prenup can be drafted by one spouse's attorney and reviewed by the other spouse's lawyer. This ensures that neither spouse has the advantage of legal knowledge over the other.

Finally, another helpful aspect of prenups is that they can address issues other than divorce. For example, a prenuptial agreement can come into play when one spouse dies, as well as if one or both spouses decides to leave the marriage. Prenups don't just address the future, either; a prenup can make formal considerations for children from a previous relationship.

Source: financial-planning.com, "Advisors: Prenup pitfalls to avoid," Donald Jay Korn, Mar. 3, 2014

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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