4 Reasons to Get a Prenup
When people hear the word prenup, they may think that the only couples that would be interested in a prenuptial agreement are ones who are planning on getting divorced later. After all, most prenups include provisions about alimony and allocation of specific property if the spouses were to divorce. While it is true that a prenup is in part an agreement between spouses about what will happen in the instance of divorce, there are other reasons to consider signing a prenup.
- Opt out of Texas’ community property regime. Texas is a community property state, which presumes that assets acquired and income earned in the course of a marriage are owned by both spouses, even if only one spouse worked or even if one spouse earned significantly more than the other. Because Texas is a community property state, some people seek to opt out of this set of rules.
- Protect the community property from one spouse’s debts. If one spouse comes into the marriage with a substantial amount of debt, a prenup can be used to protect the other spouse from being responsible for that debt. With a prenuptial agreement in force, a creditor of the indebted spouse is prohibited from going after property that would otherwise be considered community property.
- Protect children from a prior marriage. If one or both spouses have children from a prior marriage, he or she may wish to keep property separate to ensure that the children are provided for.
- Wishes of the spouses. The community property regime benefits spouses who stay at home to raise children and take care of the home. But in a time where fewer people are staying home and both spouses commonly work, some spouses think that a prenup keeps things fair and equal.
Prenups have a variety of uses. It is important that prenups be signed before marriage and be in the proper form so that a court will enforce the prenup if the spouses get divorced.
If you are interested in learning more about how a prenuptial agreement would be used in your situation, call the skilled and experienced Richmond divorce lawyer at The Vendt Law Firm, P.L.L.C. for a consultation at (832) 276-9474.