Prenuptial Agreements Can Address Certain Issues

Prenuptial agreements present Texas couples with an opportunity to understand each other’s financial situation and make decisions about what should happen during a divorce. People who know that they will receive an inheritance often have an interest in separating these assets from the marital estate prior to exchanging vows. Potential income disparities between spouses resulting from one party’s choice to forgo a career and stay home to raise children might also be covered by the contract in regards to compensating the unpaid individual in a divorce settlement.

Sometimes after a marriage a spouse unexpectedly receives an inheritance. Such a development could not have been anticipated when the original prenuptial agreement was negotiated. A person concerned about how a divorce could influence a sizable influx of money has the option of addressing the issue with a post-nuptial agreement. This contract would supplement the existing prenuptial agreement. Ideally, an inheritance received after marriage would be addressed before the assets become mingled with marital assets.

In addition to the treatment of inheritances, these contracts can establish how a divorce settlement might financially recognize the spouse who cared for children full time. Provisions could establish the framework for dividing retirement accounts or paying alimony.

During the development of a prenuptial or post-nuptial agreement, both parties should have independent legal counsel. An attorney could guide a person by explaining what the contract can and cannot legally address. Legal support could help a person make accurate financial disclosures to the other party and understand rights to specific property under applicable state law.

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