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Prenups and postnups are important documents if a couple gets divorced. Below, our Texas family lawyer outlines the benefits these contracts bring.
Prenuptial and postnuptial agreements, often referred to as prenups and postnups, mainly address the financial issues that arise during divorce. Contrary to what many people think, these documents are not romance killers. In fact, they can actually bring a couple closer together, as full financial disclosure is required by both parties. Below, our Texas family lawyer outlines the benefits of these agreements.
Avoid a Complicated Divorce
If you and your spouse ever get a divorce, there will certainly be hard feelings, frustration, and confrontation. Adding arguments about money can make a case explosive. Many couples who have gotten a divorce in the past have regretted the fact that they did not have a prenuptial or post-nuptial agreement in place. A prenuptial or post-nuptial agreement can help you avoid the complexities that come with divorce, particularly if you or your spouse have a high net worth.
Protect Separate Property
Many people today are choosing to marry later than their parents or grandparents did. As such, by the time they wed, they have already accumulated significant wealth or assets. While this property will be considered separate property, there are times when it could still be at risk in the event of divorce. For example, commingling an inheritance with marital funds will classify it as marital. A prenuptial agreement can ensure the separate property is protected.
Likewise, many people start a business after they have already gotten married. This will classify it as marital property because it was acquired during the marriage. In these cases, a postnuptial agreement can classify the business as separate property, so it is protected.
Addressing Spousal Support Issues
Prenuptial and postnuptial agreements can also address the issue of spousal support. This is formally known as spousal maintenance in Texas and more commonly as alimony. Spousal support always has the potential to become contentious in divorce. A prenuptial or postnuptial agreement can address this issue so there is no conflict surrounding it. Addressing spousal support issues in a prenuptial or postnuptial agreement often becomes even more important after one spouse has decided to leave the workforce to raise the children and maintain the household.
Protect Against Spousal Debt
Prenuptial and postnuptial agreements do not just protect wealth. They can also protect you from being found liable for your spouse’s debt. Many people have acquired significant debt before or during the marriage, particularly if they attended college or university. Prenups and postnups can ensure that the person who acquired the debt is responsible for paying it.
Our Family Lawyer in Texas Can Draft Your Agreement
At Hoelscher Gebbia Cepeda, PLLC, our Texas family lawyer can draft your prenup or post-up to ensure that you have the necessary protection in the event of divorce. Call us now at (210) 222-9132 or fill out our online form to schedule a consultation and to get more information.