What You Should Know About Prenuptial Agreements

Prenuptial agreements may carry a negative connotation. To some, getting a prenuptial agreement means entering into marriage while already considering divorce. However, with today’s high divorce rate, others say they’re just facing realty and preparing themselves for a future they cannot foresee. They figure it’s better to be prepared in case the marriage does come to an end.

A prenuptial agreement is more advisable under certain circumstances:

  • If one party to the marriage has a lot more assets than the other.
  • If there are considerable assets, even without there being a disparity, a prenuptial agreement is more likely to be considered.
  • If either or both parties have children, a prenuptial agreement can protect the future financial wellbeing of children from previous marriages.
  • When one or both persons are older, the more important it is that they consider a prenuptial agreement.

A prenuptial agreement should address the following factors:

  • Division of property. Assets as well as debts should be taken into account.
  • A time when the prenuptial agreement should expire.
  • A section that states some clauses of the agreement may change, depending upon circumstances such as when a husband or wife cheats.
  • A clause that enables the court to cut out certain provisions without nullifying the entire contract
  • The agreement should be signed well before the wedding.
  • Both future spouses need to be sound in mind and body.
  • Determine which state’s laws will apply.

Each spouse should be represented by his or her own attorney. A financial advisor should help the parties understand the consequences of dividing the property.

To learn more about a prenuptial agreement, contact Houston divorce lawyer Carl Selesky. He can help you decide whether a prenuptial agreement is appropriate for you and can help you prepare one if so.