Deciding to marry will undoubtedly be one of the most important choices most will ever make in their lifetime. There are many factors that can play into this type of union, such as debating whether or not to incorporate a prenuptial agreement, also known as a prenup. These contracts can prevent a lot of headaches should a couple decide to divorce. In this piece, we’ll be going over what exactly prenups are and why you and your spouse should consider one.
What Are They?
A prenup is a written contract that lists property and debts owned by both spouses and goes into detail about who gets what if a marriage ends. It isn’t the most common legal option that couples take, but it can help both sides down the road by preventing possible headaches that come with deciding how belongings should be split during a divorce.
Unfortunately, prenups have a stigma attached to them. If a couple signs one, it’s immediately believed that neither spouse has any hope for the marriage to succeed. This isn’t true at all. If anything, a prenup just ensures that both couples go through a smooth divorce process if one ever happens.
Reasons to Consider One
Many wealthy couples use prenups to protect their assets, family businesses and other important factors. Remember, though, that prenups aren’t just for the rich. Any couple can sign one, even if neither owns much of anything. Here are a few other reasons to opt for one:
- A prenup can help clarify your financial rights. You’ll have a clear understanding of what will still be yours and what you’re entitled to if a divorce occurs.
- If you have children from a prior marriage, a prenup can help you plan out what will happen to their property if they pass away. Without one, your spouse could have rights to their assets.
- You can avoid a yelling match in a divorce court by specifying in advance if your spouse will receive alimony. Divorcing can be emotionally daunting and not having to deal with this issue can help during a trying period.
- While you should be well aware of any debt your partner owes before marrying, a prenup can help protect you against taking it on if you both divorce.
Smart Decisions for Peace of Mind
We understand that it can be uncomfortable discussing the option of signing a prenup during the months before a marriage. If you’re entering a marriage with property, vehicles, a small business or children, you’ll need peace of mind in knowing that your assets will be protected with a prenup.
Our Attorneys Can Help
If you’re unsure about the benefits of a prenup or need more information due to a fast-approaching wedding, we encourage you to contact us. Our McAllen attorneys will do what they can to provide the security you need to ensure that your belongings remain yours following a divorce.