Prenups can help couples avoid financial stresses

On Behalf of | Jul 8, 2019 | Divorce |

Many of the stresses associated with divorce in Texas have to do with the finances of the parties during divorce and thereafter, when they are living separately. A clear and accurate prenuptial agreement can reduce the costs of divorce and help the parties prepare, reducing that stress. A problem is people tend to think of prenups as only useful or necessary in cases involving wealthy or celebrity individuals. Prenups are perhaps even more valuable for people who don’t have a lot of extra money.

When people get divorced, they are required to make disclosures of assets and debts, income and liabilities as part of the divorce process. Having a prenup in place forces those sorts of disclosures much earlier on, as a matter of course prior to the marriage. It may be awkward for the members of the couple to discuss their finances bluntly and honestly, but it can also make the relationship stronger. Research on the subject indicates that disputes about money are among the best predictors of eventual divorce, and a prenup can reduce the likelihood of those disputes.

Prenuptial agreements in Texas can be drafted to include more than simple financial disclosures as well. A prenup might include issues related to division of marital property, spousal support, division of debts and other matters. They can be drafted to require annual disclosures on the part of the spouses so that each party is kept aware of the overall financial situation.

Prenups are not romantic, but they may be among the best things a Texas couple can do for their relationship. An attorney with experience handling divorce cases or practicing family law might be able to help interested parties by drafting a prenuptial agreement to address the couple’s particular needs and goals. An attorney might also help during divorce by negotiating the terms of property division or arguing on the client’s behalf during family court proceedings.



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