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What can prenups be used for?

| May 19, 2017 | Prenuptial Agreements

For couples in the verge of their wedding, the last thing they might want to talk about is the possibility that their marriage ends in divorce. Yet the sad reality is that about half of marriages in the United States, including Texas, ultimately end in divorce.

Divorces are seldom pretty, with both sides often resorting to ill-advised tactics to try to gain an advantage over their soon to be ex-spouse. Emotions generally run high, and often lead someone to doing or saying something that may hurt them later in court. With so much on the line such as property division, possibly alimony or spousal support, and it kids are involved child custody and child support, it is important to enter the courts with the right frame of mind.

It should then go without saying that a wise thing for a couple on the verge of marriage to do is to form a prenuptial agreement, often called a prenup, to help important decisions regarding not only the future marriage, but what also what is to be done in the event of a divorce. The prenup can include decisions regarding each side’s assets and debts, as well as what to do in the event one spouse dies. It can also be used to discuss financial planning and responsibilities during a divorce.

Forming a prenuptial agreement can save a divorcing couple serious headaches and will help to assure that each side’s wishes and needs are met while in the process of a divorce. It may well be an uncomfortable conversation, but it could save significant time and money down the line.

Source: findlaw.com, “Can Prenuptial Agreements Help You?” Accessed May 15, 2017

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