When a Texas couple is preparing to get married, it can be difficult to conceive of an outcome that is anything other than happy. Unfortunately, statistics tell us that many couples will not enjoy a lifetime of marital bliss. Being able to see past one’s hopes and address potential property division needs is a difficult task and one that all-too-many couples simply avoid.
One possible risk involves a couple in which one party supports the other as they pursue an advanced degree or start a new business venture. In many families, a decision is made that one person will shoulder the bulk of the financial obligations while the other focuses on education or business goals. This dedication is rewarded when the family’s overall financial outlook is improved by one spouse’s higher education or business success.
However, if the union falters before those gains are fully realized, the spouse who sacrificed could be left with little to show for it. The party who now holds an advanced degree or is poised to enjoy business rewards can leave the marriage with those personal assets in place. The other party could have little or nothing to show for their dedication.
A prenuptial agreement can solve many of these issues. Texas couples who are preparing to wed can use this family law tool to dictate how the assets would be divided in the event of a divorce. Issues such as alimony can be addressed, including when spousal support may be modified or ceased. While no one wants to consider the end of a marriage before it has even begun, drafting a prenuptial agreement is one of the most important financial planning tasks that a couple can accomplish. In the best cases, it represents the most important property division protection that a person can never need.