When people think about prenuptial agreements, they often think of celebrities demanding their future spouses sign a contract. However, prenuptial agreements have a wide range of potential benefits for people at all income levels, and it’s almost always best to spend some time drafting an agreement.
We share a few of the reasons why it’s best to consult with a divorce attorney and create a prenuptial contract before marrying.
Ensuring Financial Security
One of the barriers that prevent people who should seek a divorce from doing so is the fear of financial insecurity. While divorce proceedings are supposed to ensure both parties are financially able to move on, there is no guarantee of this outcome. Having a prenuptial agreement allows people to understand their financial state after the divorce is finalized, which enables them to avoid the fear of having their quality of life wiped away after the process ends. Financial fears should not force anyone to stay in a relationship; ensure you’re able to make the decision if you need to.
Ease the Divorce Process
Divorce is never easy, and those who get married expect to never divorce. However, divorces are still common, and people getting married frequently find themselves facing divorce despite both sides having the best intentions. Having a prenuptial agreement makes the process of divorcing far simpler, allowing both parties to move on. Those with an agreement can expect to spend less money on Dallas divorce attorney fees. Being able to move on from a divorce quickly helps make the process a bit less painful, and even those who expect to never divorce may find themselves thankful for being able to avoid the associated hassles.
Protect Valuable Assets
Dividing property and assets after a divorce can be a painful process as certain assets have more than mere financial value. One of the major benefits of having an agreement is knowing that your valuable assets will remain with you even if you end up seeking a divorce. Items you acquired before the divorce are supposed to be safe, but there’s no guarantee you won’t have to give up or sell them. Furthermore, items you acquire while married can be covered by a prenuptial agreement as well, and ensuring your valuable assets will remain with you can make the process a bit easier to handle.
Trust
Too often, the media portrays prenuptial agreements as signs that at least one party doesn’t trust the other. In reality, most agreements drafted by a divorce lawyer show that both parties are entering the marriage out of love and an effort to build a partnership. Prenuptial agreements show that both parties aren’t looking to be supported by the other even after a divorce, and they demonstrate that both parties are looking to build an equitable partnership going forward. Although some people find it difficult to raise the question of getting a prenuptial agreement, the trust it can engender is valuable for couples at all income levels.
A Promise to Your Partner
Again, prenuptial agreements are often portrayed as defensive measures, but they provide protections to both parties. Signing a prenuptial agreement drafted by a divorce attorney shows that you aren’t going to take advantage of your partner’s financial state even if the marriage falls apart. It can be difficult to know which partner will end up making more money in the future, and agreements reflect this reality. It’s a myth that most marriage end in divorce; a majority actually survive through life. Signing an agreement represents a promise to your partner going forward.
Protecting Your Children
Perhaps the messiest part of a divorce is handling child custody issues. Many states, including Texas, follow the Uniform Premarital Agreement Act, which outlines child custody questions during the prenuptial process. An effective agreement ensures that both parties are capable of handling child-related costs even after divorcing, helping you ensure the financial stability of your children. Furthermore, many people enter into marriages with children already, and prenuptial agreements let you ensure that your children won’t suffer from divorce proceedings.
Part of a Larger Process
When meeting with a Dallas divorce attorney, you may want to consider other factors of your financial future aside from prenuptial questions. Take the time to investigate your financial state both now and in the future, and start planning for future investments. It’s never to early to draft a will, and beginning the process before marriage can help you craft the right will for your family through the years. View the prenuptial process as just one of several steps you can take to ensure your financial security throughout life.
Preparing for Financial Difficulties
Despite our best intentions, many of us run into financial difficulties at some time. In some cases, hiring a bankruptcy lawyer is the best step for moving on with life, and having a prenuptial agreement can help you and your bankruptcy lawyer plan for the process and determine which bankruptcy is right for you. The process can also help you avoid fallout if your partner runs into financial problems in the future by insulating you from poor decisions your partner makes. Uncertainty is perhaps the most difficult part of financial struggles, and having a prenuptial agreement drafted by a qualified divorce lawyer can help ease these burdens.
Nobody enters a marriage with the intention of getting a divorce, but a range of events can make divorce the right decision. Before choosing a wedding date, make sure you consider the ways a prenuptial agreement can help strengthen your marriage and make possible future events a bit easier to handle. While it can be intimidating to raise the subject, those who are armed with the realities of prenuptial agreements can explain to their partners why it’s a wise decision to consider and how it can positively affect both parties.
