Prenuptial agreements: Important topics to discuss
When a couple decides to marry, there are several important decisions that must be made. In addition to decisions regarding their wedding, couples must discuss many financial issues including where they will leave and how they will pay their bills. Many couples in Texas ultimately decide that exploring the idea of prenuptial agreements can help them fully understand their financial situation and plan for the future.
Creating a prenuptial agreement involves discussions concerning both relatively small and large financial issues. For example, couples can decide how monthly expenses will be handled. In most cases, one spouse typically earns more than the other so it may be appropriate to decide what each person will pay. In addition to monthly expenses, many couples include estate planning elements in their prenuptial agreements. This could be especially important for someone who has children from a previous marriage.
This can also be an opportunity to discuss premarital assets. In most states, premarital assets are not subject to division in the event of a divorce. However, if those assets increase in value during the course of the marriage, the increase may be subject to division.
Many people who decide to go through the process have very little experience with prenuptial agreements. Fortunately, there are experienced professionals in Texas who can help those set to walk down the aisle protect their interests with such a document. By seeking the guidance of such a person, they are better prepared to ensure that the terms of an agreement are fair and enforceable.
Source: Forbes, “5 Things To Keep In Mind When Negotiating A Prenup“, Ginger Dean, April 4, 2016