Prenuptial agreements aren’t just for wealthy, anxious couples
Regular readers of this blog may already know that a prenuptial agreement can be a positive undertaking for any couple about to be married, even if they end up staying together until death do them part. While they’re most common among engaged couples with a high net worth, there are plenty of reasons for Texas residents of any income level to consider drafting and signing a prenup.
Part 1One reason is that the average for a first marriage is creeping up. And as people are marrying later in life than their older siblings or parents, they’re also typically earning more income by the time they walk down the aisle. With more assets and property to protect, a prenup becomes more valuable for both the bride and groom.
Prenups also offer some emotional protection. No couple enters a marriage with the expectation that it won’t last, but it only takes one or two horror stories about a divorce that went badly for a prenup to start sounding like a wise idea. Couples who want to protect themselves against a potentially years-long battle over their property and assets can rest assured that the stress and heartache that comes with a divorce won’t last any longer than it has to.
Part 2If you do decide to enter a prenuptial agreement, it’s wise for both you and your future spouse to take your time with it. It can take a few months to draft an agreement that addresses all your needs, after all. Asking your future husband or wife to sign a prenup on the day of your wedding or even weeks beforehand isn’t advised, and a prenup can be broken if a spouse can prove that he or she signed it under duress or deception.
It’s also a good idea for each spouse to have a separate attorney to represent their best interests. Giving yourself more time will allow your attorney to give you the best shot at signing an agreement you can both live with — even if it’s happily ever after.