Why Consider a Prenuptial Agreement?
Myres, Dale & Associates, P.C. | Houston, Texas
Toll-Free 866.506.1221 | E-Mail
If we had our way, everyone would sign a prenuptial agreement before beginning a marriage. Realistically, however, we know that many people will not even consider a prenuptial agreement before the wedding. Other couples will consider the idea briefly but discard it as unnecessary.
Prenuptial agreements have a bad reputation, and some of our clients have told us they were embarrassed to even suggest the idea to their intended. There are, however, many good reasons to consider negotiating a prenuptial agreement with your future spouse.
For many couples, negotiating a prenuptial agreement is as important as making or revising one's estate planning documents. It is an opportune time to discuss each party’s expectations in the time leading up to a marriage.
Who Should Consider a Prenuptial Agreement?
Couples in the following circumstances should seriously consider negotiating a prenuptial agreement:
- Second or third marriages, especially if one or both individuals have children from previous relationships;
- Marriages in which one party brings significant assets or debt to the relationship;
- Marriages between elderly people or people with serious health concerns;
- Marriages in which either or both individuals are engaged in a financially risky business or profession.
Prenuptial Agreements Versus Marital Agreements
Timing is the primary difference between prenuptial agreements and marital agreements, or post-marital agreement. While prenuptial agreements will be signed by parties who are planning their marriage, marital agreements are for those who are already married. Even though this is a very important distinction, the end result and the reasons for entering into either of these agreements may be very similar.
Unlike a prenuptial agreement, however, a marital agreement may be used as a separation agreement which is not formally available in the Texas Family Law law and procedure. These agreements may be utilized when there is difficulty in the relationship but the spouses are not ready to pursue a divorce for a wide variety of reasons.
Contact the Houston, Texas, Law Firm of Myres, Dale & Associates, P.C.
Our attorneys are always available to provide advice to individuals or couples considering prenuptial agreements. To schedule a confidential appointment with one of our lawyers, call toll-free 866.506.1221 or send us an e-mail.
