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Texas couples: Divorce and the prenuptial agreement

As the wedding day approaches, dreams of happily ever after fill the air. Unfortunately, with approximately 50 percent of marriages ending in divorce, the prudent Texas couple will review and discuss their situation. This will then allow them to take steps to protect themselves in case happily ever after is not their reality.

One important consideration for the couple is the need for a prenuptial agreement. In many circumstances, one member of the engaged couple will be bringing the majority of assets or perhaps even business ownership into the marriage. A prenup will allow the couple to state how assets owned prior to the marriage should be treated. Additionally, the agreement can dictate the amount of spousal support to be paid if necessary.

At times, one of the individuals owns all or part of a business prior to the marriage. A prenuptial agreement can protect the business in case of divorce. It can also protect the other spouse in the event that he or she has contributed physically or financially to this business. In addition to ownership prior to the marriage and the contribution of each party, the amount of joint income used to pay business debt may need to be considered.

Unfortunately, many couples throughout Texas find themselves in the midst of a divorce. Although this was not the plan from the outset of the marriage, by planning ahead, these couples can perhaps make this process smoother. Capitalizing on the experience of other couples and legal professionals, an engaged couple can discuss their unique circumstances and decide what is best for them. The prenuptial agreement will then serve as a guide book if and when needed.

Source: wotv4women.com, "3 Things to Know Before You Get Married", Gail Saukas, June 21, 2016

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