Benefits of Premarital Agreements
A prenuptial agreement, also called a prenup or premarital agreement, is a contract two people enter into before marriage. It allows couples to address issues that can arise during divorce when they are more likely to negotiate calmly and fairly. A premarital agreement outlines each person's assets and determines how to handle finances if the couple divorces. Although a premarital agreement might seem unnecessary, it can save time and frustration if the marriage ends. Below are the primary benefits of a prenup.
Encourages Open and Honest Communication
A prenup starts a conversation about assets and liabilities in a relationship. It might be uncomfortable but openly communicating about finances allows you and your partner to understand each other's expectations.
You can discuss expenses, debts, and other issues before marriage to establish each person's economic standing. If you get divorced, there won't be any surprises while negotiating the terms.
Safeguards Assets You Earned Before Marriage
Sometimes, a couple's assets are significantly unbalanced. You might have more wealth than your partner and worry about them taking more than their fair share if you divorce. A prenuptial agreement protects your assets. You can outline the assets you bring into the marriage to prevent an unfair distribution during divorce.
Establishes Marital Property
Texas is a community property state. That means married couples own equal shares of property either person acquires during the marriage. The courts often split the marital property in a manner they deem just and right. It doesn't necessarily mean a 50/50 split. The decision depends on various factors.
A prenup can outline how you and your spouse will distribute marital property if you divorce. Instead of fighting over assets, a prenuptial agreement will clearly outline the division of marital property. You can determine how to divide everything so the court won't do it for you.
Simplifies the Divorce Process
Divorce stirs up a range of emotions. It can be stressful, devastating, overwhelming, and frustrating. Many couples might want to proceed with the process amicably, but arguments over legal issues can turn ugly.
If you already have a premarital agreement, it eliminates the challenge of negotiating property division terms for the divorce. You can refer to the contract to resolve disputes easily and avoid unnecessary courtroom battles.
Protects Your Business
If you own a business before tying the knot, considering how it will impact your marriage is crucial. You can designate it as a separate asset in your prenup to prevent your spouse from trying to take it from you during divorce proceedings.
Get Legal Assistance from a Cedar Park Prenuptial Agreement Lawyer
You likely don't agree to marry someone because you believe it will end in divorce. Most people don't anticipate their marriage failing in the future. However, it can happen, and a well-prepared premarital agreement can alleviate the stress and pressure of negotiating divorce terms.
Harris & McKeown Law Firm understands the challenges of planning for divorce before marriage. We will simplify the process so you can make informed decisions about the terms to include in the prenup.
Call us at
(512) 668-7733 for a consultation with an experienced
prenuptial agreement lawyer in Cedar Park, TX, today.

