All too often the prenup conversation is handled poorly. One spouse may bring up the need for a prenup at the last minute, leaving little time for thought and consideration. Or, the other spouse may not understand what a prenup is and get upset at the mention.
As Erik Newton points out in his postApproaching the Prenup Conversation Gracefully, it is important for everyone to understand that they already have a prenup! The State of Texas has rules in place for how property is handled during a marriage, as well as in the event of death or divorce. So, the question isn’t whether you want a prenup, but more whether you are okay with the rules that the State has provided or whether you have a different viewpoint of how your marriage should handle things.
One approach to the prenup conversation might be to address difficult conversations in advance. Eventually there will be a disagreement over money. The more spouses-to-be discuss in advance how to handle difficult situations, the less strain they will have in the future.
Before approaching the prenup conversation think about how the other partner will feel about the discussion. What will he or she need to hear in that conversation. Once you are married, you take responsibility for the wellbeing of the other spouse. So, addressing the issues the partner will express in advance will make the conversation go more smoothly.
Transparency is key to making both sides of the agreement feel secure. Provide full disclosure upfront as to the goals of the premarital agreement, and when the time come for disclosing assets, volunteer all of the necessary information so the other spouse feels like he or she is getting a fair deal.
For help in drafting your prenup, contact the Texas board certified attorneys at O’Neil & Attorneys.