Premarital agreements – also known as prenuptial agreements and prenups – are about far much more than trying to protect one’s wealth. In fact, the bad rap that premarital agreements used to get is in the past is outdated. Premarital agreements are legal contracts that can serve many important roles in a marriage. If you have questions or concerns or would like to learn more about premarital agreements, an experienced Austin premarital agreement attorney can help you with that.
Marrying very young (before amassing much property of one’s own) is no longer the norm. People now tend to enter marriages after they’re become more financially established. While no one enters into a marriage expecting it to dissolve, the fact is that divorce happens, and a premarital agreement can help protect one’s assets in the event of a divorce. Further, more and more people are entering into second marriages – often with children in tow. A premarital agreement can also help couples sort out the issue of inheritance – and help solidify each spouse’s estate plan. Without a premarital agreement, it can be difficult to ensure that your children from a prior marriage receive the inheritance you intend them to receive.
The property that you and your spouse bring into your marriage with you is considered separate property that – as long as you keep it separate – will remain yours if you do divorce. The fact is, however, that over the course of a marriage, it is easy for separate property to become commingled with marital property – at which point, the strength of its separateness can be seriously tested. If you have a robust premarital agreement in place, however, you can directly address the matter of separate property before any issues arise.
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