When Texas residents decide to get married they often don't think about what will happen if they divorce. However, with as many as 50 percent of all marriages ending in divorce, it is important for Texas residents to understand that a divorce is a serious possibility. Even engaged couples need to understand what could happen to their assets should a marriage be unsuccessful.
One way to protect themselves in case of divorce is to sign a prenuptial agreement. A prenuptial agreement can help couples protect the assets that they bring into the marriage. This could include real estate owned by one or both of the parties prior to the marriage. By signing a prenuptial agreement, each person will understand who will get what property should the marriage end in a divorce. A prenuptial agreement, therefore, can help to prevent lengthy and expensive divorces in the future. This is because all of the major financial issues have already been discussed.
If couples choose not to sign a prenuptial agreement, the property that they own prior to the marriage, including real estate, could be split between the parties in the future. While some property may remain separate, the chance of comingling the property is high. Once the property is marital property, both spouses may have the right to some equity in the property.
Once couples understand why it is important to have a prenuptial agreement, couples also need to understand what is necessary to create a valid agreement. There are many legal steps that need to be undertaken in order to ensure that the prenuptial agreement is fair to both sides.
Couples who are considering marriage in Texas should understand whether or not they need a prenuptial agreement in their case. While some may believe prenuptial agreements are unromantic, it is really about protecting peoples' interests in their financial assets prior to a marriage. With the divorce rate on the rise, individuals cannot be too careful. For specific legal advice about divorce, individuals speak with an attorney.