The benefits of a prenuptial agreement in the event of divorce
Many couples in Texas may not think they need a prenuptial agreement prior to getting married. Even couples with a strong relationship can end up dissolving their bond in the future. A prenuptial agreement can help the couple navigate the most contentious topics in divorce proceedings ahead of time.
Forbes says the most common issues addressed in prenuptial agreements focus on money and communication. Common contentious issues include the division of assets, property ownership and use and the allocation of debt. A prenup handles these issues with effective communication before negative emotions have a chance to hijack the conversation.
A prenup can also help couples communicate about money during marriage. By entering into a contract ahead of time, the couple has an opportunity to prevent divorce from happening. Couples of all walks of life can benefit from the financial communications sparked by a prenup.
NOLO states that the prenup allows a couple to “identify and allocate separate any marital property” before divorce. Since this is often the lengthiest portion of most divorces, knowing the division of property ahead of time can save the couple money and aggravation. Each partner’s will and trust can be allocated during the prenup.
With around half of first marriages ending in divorce, a prenuptial agreement can help the couple divide assets, debt and property in an amicable way. Not everything can be included in a prenup including the items related to children of the marriage. The agreement may help the couple during the marriage as well as in the case of divorce.