The perception of prenuptial agreements has been changing for a number of years, in Texas and across the country. Where mentioning the idea a few years ago may have resulted in an argument, prenups have now become much more commonplace and less taboo. This is due at least in part to their usefulness. While no one goes into a marriage planning to divorce, having a prenuptial agreement in place before the marriage begins can alleviate a number of financial and psychological stresses if divorce becomes a possibility.
A prenuptial agreement may be especially important in cases where business interests are involved. Having a prenup allows the parties to establish what the business is worth when the marriage begins, which can be important in calculating the parties’ contributions to the business if the marriage ends in divorce. The document can also set out exactly what will happen with regard to the appreciation or depreciation of the company’s value during the marriage.
In some cases, it makes sense to simply specify the percentages of the business each spouse will be entitled to in the event of divorce. The parties can agree beforehand that one of them gets 20%, for example, and the other gets 80%. This is difficult to accomplish during divorce proceedings when other assets are being split 50/50. Having a prenuptial agreement in place is financially responsible and allows couples to go into their marriages with fuller knowledge.
An attorney may be able to help in cases where a client wants to have a prenuptial agreement. However, there are certain protocols that have to be followed in order to it to be upheld if it ever comes in front of a judge. Each party should have its own respective attorney, and it should it should be negotiated and signed well in advance of the wedding date in order to combat a claim that one of the parties was forced to enter into it under duress.
