Common clauses in a prenuptial agreement
When a Houston couple is in the midst of wedding planning the last thing they likely want to think about is divorce. Wedding planning can be an exciting time for couples, but it can also be important for couples to think about their lives after the wedding and what may happen in the event of a divorce. A prenuptial agreement is often a prudent measure that can ensure that a couple’s wishes are honored if they choose to divorce at a later time.
There are many important issues that should be addressed in a prenuptial agreement. First, if there are children from a previous relationship, it is important to account for their well-being. A prenup can make sure they receive compensation or property in the event of a divorce. Also, since Texas is a community property state it is important to define what property is community and what is the individual’s. A prenup can list out what property an individual has before the marriage and what should happen to property obtained during the marriage.
In addition to assets, a prenuptial agreement can also protect a spouse from their partner’s debt. Family heirlooms, the family business, and other important family interests can also be protected by a prenuptial agreement. Also, many couples find a prenuptial agreement a good place to define roles in a marriage. These can include who pays the bills, who will take care of the children, who will manage the bank accounts, how much each person should contribute to savings, and arranging how a spouse will be going to school.
There can be many good reasons why a couple should have a prenuptial agreement drafted before their marriage. Although it may not be a romantic gesture, they are a good way to ensure each person’s future is protected.
Source: findlaw.com, “What can and cannot be included in prenuptial agreements“, accessed on March 1, 2016