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Prenuptial Agreements Archives

Protecting the family business with a prenuptial agreement

A family business may be one of the casualties after a divorce. One spouse my not be able to buy out the other spouse, forcing excessive debt on or the sale of the business. But, a prenuptial agreement or other precaution may save the business.

Millenials opting for prenuptial agreements

More Texas millennials, 18- to 35-year-olds, are entering a prenuptial agreement (prenup) before their marriage and for new reasons. One survey of attorneys reported that 51 percent of lawyers reported an increase in the number of millennials seeking these agreements. Another 65 percent claim that the increase took place over the last three years.

Why enter a prenuptial agreement?

Wedding planning may include less romantic but important aspects for engaged couples in Texas. A prenuptial agreement, for example, allows couples to have an inventory of property that they possessed before their marriage and help protect assets when a marriage ends.

Prenups and remarriage

Second marriages could have more financial complications because some couples enter their new marriage with children and they likely attained more assets and resources as they got older. Four out of 10 new marriages had at least one spouse that was married earlier, according to a 2013 Pew Research study. Drafting a prenuptial agreement is even more important to protect assets and for estate planning when couples remarry.

How does a prenup work?

A contract to resolve property division and other issues, a prenuptial agreement is not available only to the rich or famous. A couple entering a marriage may, under Texas law, sign these agreements to address the management and control of their property, division of their property following divorce or death and spousal support.

Tips for making a prenuptial agreement work

One of the last things a couple about to get married wants to think about is the possibility that the union they are about to enter into could end in divorce. While it is an unpleasant conversation to have, more and more couples in Texas and elsewhere are considering the benefits that a prenuptial agreement could provide. Because there are no guarantees in life, even couples without much to their names include a prenup in their marriage.

Prenuptial agreements can be helpful for those entering marriage

Many individuals considering marriage may wonder if they should draft and sign a prenuptial agreement. Prenuptial agreements should be talked about and evaluated between partners considering marriage. Prenuptial agreements protect both parties entering a marriage from disputes, if they divorce and in tragic situations such as death.