A Houston Prenup Lawyer Elaborates On Things You Should Do & Avoid Doing During A Prenup Agreement
Prenuptial agreements are something that few people like to talk about, regardless of whether you live in Texas or any other part of the country. Bringing up financial matters with your future spouse can be a little bit tricky – especially when you are talking about which assets belong to which partner and which assets are shared. All in all, the topic is generally quite uncomfortable to talk about, which is why a lot of couples wind up skipping over it and avoiding any financial discussions. As it turns out, however, there are a lot of upsides to prenuptial agreements for everyone involved. The tips below should give you the information you need to talk about this sticky subject in a way that won’t upset your partner and that ensures that you are both on the same page.
Prenuptial agreements are often misunderstood. One of the biggest misconceptions that people have is that a prenuptial agreement will allow them to retain all of their money and assets if they wind up divorcing their partner. As it turns out, however, that isn’t quite right. These agreements only cover money or assets that you own before you get married. In essence, they allow you to separate the property that you already own the property that your spouse owns, with each of you retaining ownership of your individual money and assets. After you get married, however, all of the money and assets that you acquire legally belong to both of you and need to be equally divided if you ever go through a divorce. If you talk to a family law attorney in Houston, they will tell you that one of the biggest mistakes that their clients make is thinking that they get to retain all of their assets, even if they were acquired after the couple was married. As it turns out, though, you still will need to pay for expenses such as child support and alimony when you split up with your partner, even if you have a prenuptial agreement in place.
Don’t Wait Too Long To Talk About A Prenup With Your Partner
Talking about prenuptial agreements is not an easy task. That is why you may be tempted to put it off as long as possible. Nothing can kill the romance in your relationship faster than talking about the possibility of divorce. At the same time, however, there are a lot of really compelling reasons to talk to your partner about a prenuptial agreement. This is especially true if you have complicated issues to deal with. For instance, if you own a business or if you already have children with another partner, you should talk about how those issues will be addressed before you get married. If you are committed to the idea of a prenup, it is best to talk about it early on in your relationship. That way, you and your partner can address your financial issues together, coming up with an arrangement that works for you both.
Make Sure You And Your Partner Use Different Lawyers
Avoid using the same lawyer when setting up a prenuptial agreement. Instead, you and your partner should both retain your own counsel. That way, you can be sure that everyone’s rights are being protected and that everyone is getting a fair deal. This can help avoid conflicts or hurt feelings as you move forward into the future. If you are in need of a Houston prenup lawyer, make sure to check out John K. Grubb & Associates.
Avoid Trying Anything Underhanded
Don’t make the mistake of thinking that you can add language to your prenuptial agreement that allows you to do something that is not legal or that causes harm to your family. If this type of information is included in the agreement, it can cause it to be voided. For instance, you can’t use a prenuptial agreement to get out of paying taxes on property that you owned in the past. You also can’t use it to set up insufficient child support payments or alimony payments in advance.