Many young people in Texas and elsewhere today have decided to postpone marriage since they wish to focus on their careers first. Then, when they do decide to get married, they have a lot of assets or even debt to bring to the table. In light of this, it would behoove two people to draft a prenuptial agreement before they walk down the aisle, as this type of agreement will protect their best interests if they end up getting a divorce years later.
The truth is that people generally get married because they love and trust each other. However, marriage also involves signing a contract and merging two people’s assets. For this reason, it is wise for a couple to spell out specific terms that favor both of them before marrying, and this can easily be done in a prenuptial agreement.
If two people do not create a prenuptial agreement, then they will have to rely on the state’s divorce laws to determine how their shared assets will be split. Texas is a community property state, which means that all of a couple’s assets will be split down the middle during a divorce proceeding. This is opposite of what happens in equitable distribution states, where a judge divides marital assets in a fair manner based on a variety of factors.
Engaged individuals may initially view creating a prenuptial agreement as unnecessary if they see themselves staying married long term. Unfortunately, marriages do not always last. If they decide to get a divorce without having created a prenuptial agreement, their divorce process may not be as smooth as it could have been with one. A divorce attorney in Texas can help an individual who plans to get married to first produce a prenuptial agreement that will protect his or her best interests down the road.