When a Texas resident is planning to get married, it can be a good idea to discuss a prenuptial agreement. Having such an agreement can reduce or eliminate the chance that a person’s wealth is lost in a divorce. Those who come from wealthy families can also reduce or eliminate the chance that wealth generated by their parents is not lost if a marriage comes to an end.
In many cases, the parents are the ones who suggest creating such an arrangement. Even if a child is hesitant to ask for a prenuptial agreement, it does allow a parent the opportunity to discuss family finances. However, parents will ideally start talking about financial matters before the child meets a future spouse. This makes the thought of creating such a document seem like more of a general financial matter as opposed to appearing overly protective.
If a child refuses to create a prenuptial agreement, it could still be possible to protect assets with a trust. The trust could have language in it that does not allow assets to be distributed to a married beneficiary without the presence of a post-marital agreement. This may work to ensure that future generations can benefit from a family business or other financial resources.
Prenuptial agreements can be an effective way to preserve the property interests of both an individual and his or her family. An attorney may be able to help draft such an agreement or review one that already exists to see if it is still valid. As a general rule, these agreements should be created months before the wedding so as to preclude a claim of coercion.