Unfortunately, many Texas couples must deal with divorce. Having a prenuptial agreement can greatly influence what will happen during the separation process. However, prenups can also strengthen a marriage by encouraging the parties to reduce uncertainty before walking down the aisle.
A prenuptial agreement is essentially a contract entered into before marriage wherein the parties agree what will happen if the marriage ends. Creation of a prenuptial agreement requires communication between the spouses about their financial interests. A prenup can help prevent future hostility because both parties understand prior to the marriage what will happen in the event of divorce and will not be forced to make decisions covered by the prenup later out of anger and resentment.
Some of the most common issues addressed in a prenup are division of marital property and debt, the amount and duration of alimony payments upon divorce and which state’s law will apply to the prenuptial agreement if the parties cannot agree. However, a prenup does not cover everything. For example, child support and parenting issues are addressed by state law and are ordered according to the best interests of the child.
After marriage, couples who elected not to sign a prenup may still be able to enter into a postnuptial agreement. This document can cover many of the same issues as a prenup and ensure a smooth transition in the event of divorce.
An attorney experienced in divorce litigation may assist a soon-to-be ex with complex asset division issues. If there is no prenuptial or postnuptial agreement, legal counsel could help the client keep property that is most important to them through the negotiation process.