There are a variety of good reasons for a couple to enter in to a prenuptial agreement before getting married. For example, if one party has significantly more money than the other when they enter the marriage, one party owns a business or one party has a substantial amount of debt, choosing how the parties own both now and in the future there separate and potential community property in a legal agreement can be a good way to save money in the future.
The Reality Of A Prenuptial Agreement
When a couple gets married, it can be difficult to imagine exactly how their prenuptial agreement could affect their potential divorce. Many people in Texas know that getting a prenup is a good idea, but don’t understand how it can realistically help them.
In addition to making the divorce process more efficient, when a prenuptial agreement is utilized it can:
- Reduce the amount of time spent on discovery during divorce
- Reduce the amount of time distributing assets
- Minimize court time, which reduces legal fees
- Prevent fights and disagreements
While a prenuptial agreement can’t prevent every issue, it can significantly reduce the cost of divorce and provide guidelines for a couple to move forward after being married and in the event of separation and divorce
When A Postnuptial Agreement Is A Better Fit
Even though a prenuptial agreement can be a good way to make the divorce process move more efficiently, most people only discuss the details of their prenup before they’re legally married. If you’re already married and looking for a way to separate your assets in case of divorce or other life event, a postnuptial agreement (also called a Partition and Exchange Agreement) may be a good fit. A postnuptial agreement acts like a prenuptial agreement but can be made after a couple is married. Like a prenup, a postnup can save money and time if a couple decides to legally separate.
Speak With An Experienced Lawyer Today
To create a prenuptial or postnuptial agreement that can protect your assets, you need skilled legal guidance with experience representing a variety of different situations. This is where the attorneys at Laura Dale & Associates, can help you. We are a full-service law firm who works as a team to meet our clients’ goals.