Prenuptial Agreement Lawyer in The Woodlands

Most people get into marriages hoping their new union will last a lifetime. However, this is not always the case and some end up undergoing a divorce. One of the conflicts that arise from divorce tends to do with finances and assets. Signing a prenuptial agreement, however, can help protect both parties in case the marriage goes south.

A prenuptial agreement clearly states how assets and debts would be divided between a couple in case of divorce. While it may be deemed a sign of lack of faith or unromantic, it’s an excellent way to prevent prolonged court battles that are both expensive and emotionally daunting.

Before you delve in, it’s advisable to seek as much information as possible from a prenuptial agreement lawyer in The Woodlands. You can contact the experienced family law attorneys at Bolton Law Firm by calling 281-351-7897 to learn more about prenups.

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What Is a Prenuptial Agreement?

A prenup agreement or prenup is a legally binding contract that stipulates how a couple will divide their assets if they choose to divorce in the future. It covers an array of financial issues, including whether one spouse will pay spousal support (alimony) or if they will be responsible for each other’s debts.

What Should Our Prenup Agreement Include?

There is no one-size-fits-all contract when it comes to prenups and you, therefore, need to tailor one in accordance with your situation. Primarily, you will have to consider your social and financial situation before drafting one. You can include standard terms that state how you’ll split your wealth, assets, and debts in case of a divorce.

Other important aspects to consider include:

  • How you will deal with business assets and retirement
  • Using alternative dispute resolution like meditation for divorce
  • Differentiate separate and marital property
  • Who will be liable for insurance, mortgage, taxes, and debts
  • Whether one party will get to continue residing in the marital home

What Are the Benefits of a Prenuptial Agreement?

There are many benefits that come with a prenuptial agreement including:

Better Communication Between Couples

While the pros of a prenup are quite apparent in divorce cases, those who don’t undergo one can also benefit from the agreement. More often than not, couples separate over financial issues and so, the more open they are before marriage, the better.

The process of making a prenuptial agreement involves full transparency and disclosure from both parties. This encourages honesty, allowing the couple to be on the same page regarding their finances before they marry.

Debt Protection

Another pro of a prenup is protection from debt. A prenup allows both parties to keep certain debts separate. For instance, let us assume you got into marriage with significant credit card debt. In such a situation, you can agree in agree that this debt will stay separate and be your responsibility to pay off. In case of divorce or death, this agreement protects the other party from creditors.

Protect Your Business

A separation or divorce can have detrimental effects on your business if you are not ready. A prenup is beneficial as it ensures your business isn’t affected by divorce.

Avoid Potential Emotional and Financial Effects of Divorce

Divorces tend to have huge risks, both emotionally and financially. With a prenup, you can mitigate most of them by avoiding costly legal fees and the negotiation at the end of a union when facing emotional distress.

Provide Both Parties the Security to End Marriage When They Need or Want to

With the financial uncertainty gone, both parties have the security and freedom to end the marriage if the relationship goes south. Staying in a union that isn’t working because of financial reasons can be harmful to both the physical and mental health of everyone involved, particularly the kids. A prenup provides the ability for you to make the best decision for your loved ones, without basing it on finances.

Protect Your Kids From a Past Relationship

If you’re divorced, you may have child support or spousal support responsibilities that need to be accounted for. You may have certain assets you want to preserve for a kid from your previous marriage. You certainly want to make sure that your assets are divided in accordance with your wishes after you die and that all your dependents are catered for. A prenup can help achieve all of that.

prenuptial agreement lawyer in The Woodlands Texas

Do I Need a Prenup Agreement?

The answer depends on both where you reside and what you wish to accomplish. Texas, for example, is a community property state, meaning that all assets acquired during the marriage have to be divided fairly in case of divorce. Separate property such as inheritances, gifts, and other assets owned before marriage individual are not divided in the divorce.

As such, if you are comfortable relying on those rules, you may not have to undergo the sometimes stressful process of making a prenup agreement.

However, if you have specific ideas of how you want assets divided, or separate property that you really want to ensure remains yours after separation, then we highly recommend a prenuptial agreement. In addition, if no party wants to pay spousal support in case of a break-up, then a prenup is essential.

Why Should I Hire a Prenuptial Agreement Lawyer in The Woodlands?

As mentioned earlier, there’s no legal requirement to have a prenup agreement lawyer in Woodlands, TX. However, that does not mean you should not hire one. As a matter of fact, each party should have its own legal representative. Depending on your circumstances and prenup details, the judge might refuse to enforce it, if one of you doesn’t have a lawyer.

Here’s why you should consider getting a prenuptial agreement lawyer in The Woodlands:

Ensuring the Agreement Is Enforceable & Valid

You want to ensure that your prenup agreement is valid and enforceable. Unfortunately, many people do not understand the prenup laws in Texas.

If you draft the prenup on your own, you may miss the critical details required for its enforcement. For instance, each party is expected to provide full disclosure of their income, debts, and assets. Failure to do that makes the agreement unfair, and thus not enforceable.

Under the Uniform Premarital Agreement Act, your prenuptial agreement must meet the following criteria.

  • It must be in writing.
  • It must be executed “in contemplation of marriage.”
  • It must be fair and just to both parties.
  • It must be signed voluntarily.
  • There must be full disclosure of assets.

Ascertain Thoroughness and Fairness

A great prenup lawyer will help you comprehend what you’re agreeing to and if it’s fair. Also, you may not be aware of specific things to address in a prenuptial agreement like what happens to the business assets, marital home, etc.

Hire an Experienced The Woodlands Prenup Lawyer Today!

Getting married is without a doubt one of the most important decisions you can make in life. However, the manner in which you handle financial issues if your marriage, unfortunately, goes south is also a substantial decision that can affect almost every aspect of your life down the line. So why would you want to risk your financial future?

Prenuptial agreements can be a controversial topic in society today, but the effects of not having one should not be overlooked. There are many benefits that come with drafting a prenup agreement including debt protection, business assets protection, property protection and so much more.

By working with the Bolton Law firm, you can be certain that our seasoned team will represent your interests and ensure you have a prenup that will ensure peace of mind in the future. Call us today at 281-351-7897 to get started.