If you are contemplating marriage in the near future it may seem strange, even outright wrong, to be considering the possibility that the marriage will fall apart down the road. Unfortunately, the reality is that no one can possibly know with certainty that a marriage will last forever. For some people, a divorce is emotionally devastating but practically speaking it is uneventful. For other people, however, the practical aspect of a divorce can be disastrous. One way to avoid the possibility of a disastrous divorce is to enter into a prenuptial agreement before the marriage. If you are concerned about the consequences of a divorce, you need to consult with a Granbury divorce lawyer now about drafting a prenuptial agreement.
What Is a Prenuptial Agreement?
In simple terms, a prenuptial agreement is an agreement between prospective spouses made in contemplation of marriage. A prenuptial agreement typically determines what will happen to the marital assets in the event of a divorce. Although a prenuptial agreement must be signed prior to the marriage, the terms of the agreement do not go into effect until the parties are married. From that point forward, the terms of the agreement will dictate what happens to the marital assets if the marriage does not work.
Why Would You Need a Prenuptial Agreement?
Not all that long ago, the mere mention of the words “prenuptial agreement” would cause one party to a pending marriage to reconsider the decision to get married. It was typically thought of as a sign that your future spouse did not have faith in the marriage if he/she presented you with a prenuptial agreement to sign before the marriage. Today, however, it is not uncommon for both parties to a marriage to have reason to enter into a prenuptial agreement. As a result, prenuptial agreements are much more common today than they were a generation or two ago. What has changed? Why are more people entering into prenuptial agreements?
One thing that has caused an increased interest in prenuptial agreements is the increase in second, or subsequent, marriages. If you have children from a previous marriage it can be risky to enter into a marriage that will effectively merge your assets with those of a new spouse. If the marriage does not work, you don’t want to lose assets you have earmarked for your children to your spouse in a divorce. One solution is to enter into a prenuptial agreement that protects those assets from the outset.
Another reason for the increased interest in prenuptial agreements is the fact that people are waiting longer to enter into marriage in the first place. Consequently, it is not uncommon for both parties to bring considerable assets into the marriage. Once those assets are co-mingled they are at risk of being lost in a divorce. Once again, the solution is to protect them by entering into a prenuptial agreement ahead of time.
Finally, prenuptial agreements are popular if one spouse has considerably more assets than the other and/or if one spouse is bringing considerable debt into the marriage that the other spouse does not want to be held liable for in the event of a divorce. Agreeing to the division of assets ahead of time prevents the loss of assets in a divorce as well as prevents one spouse from being saddled with debts that are not his/hers.
How Can a Granbury Divorce Lawyer Help?
It may seem strange to consult with a Granbury divorce lawyer before you are even married; however, keep in mind that a divorce lawyer is simply an attorney who has considerable experience in family law matters, specifically those that relate to divorce. Because a prenuptial agreement only becomes relevant in the event of a divorce or death of a spouse, it only makes sense to consult with one if you think a prenuptial agreement would be a good idea for you.
If you have additional questions or concerns about entering into a prenuptial agreement in Texas, contact an experienced Granbury divorce lawyer at The Law Office of Jon R. Boyd by calling 972-332-0104 to schedule your appointment today.