Prenups are not just for wealthy people anymore. Couples utilize premarital agreements not only to cover current assets, but also to cover future assets or the potential for future wealth. A prenuptial agreement in Texas can address a current or future business interest, potential inheritance, or financial support of elderly parents.
Premarital agreements are increasingly used to address division of debts in a relationship. One person may have significant student loan debt. The other spouse may have high medical bills or credit card debt. Discussing a prenup may seem like a killjoy but couples who address their finances before marriage may end up with a healthier relationship. Each person in the relationship should be aware of the combined assets, debts, and net worth. Sorting out economic hurdles in advance may even help prevent divorce.
For help in drafting your prenup, contact the Texas board certified attorneys at O’Neil & Attorneys.