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Is a premarital agreement, or prenup, right for you?

February brings with it the yearly recognition of Valentine's Day. Sources estimate that roughly four million Americans agreed to marry on the national holiday of love. Countless more held wedding ceremonies to mark the day. The idea of proposing or marrying on Valentine's Day is a time-honored concept.

North Houston family law lawyers know that many marriages are successful. Some financial industry experts insist that a large number of marriages that later fall apart do so for economic and financial reasons. Some advocates feel that premarital agreements, popularly referred to as "prenups," can actually help spouses resolve future differences, and hold the marriage together.

There is a growing trend across the country for young couples to consider entering into premarital agreements before they recite their vows. A 2010 study found that roughly a third of all Americans said that they would ask their partner for a premarital agreement before marriage. Many women are the first to initiate premarital agreement discussions in recent years.

Premarital agreements in Texas can cover a wide variety of topics, and help to facilitate a more amicable divorce should things in the marriage fall apart. Future potential child support or child custody issues are just about the only issues that cannot be covered in a premarital or postmarital agreement. That is right; some couples choose to address issues after tying the knot in a written agreement, known after the wedding ceremony as a postmarital agreement.

Most people think of celebrities, or couples who have vast disparities in income or age, when they think of prenups. The truth of the matter is that many couples who share similar incomes and age can benefit from entering premarital of postmarital agreements.

People are generally marrying later in life after having built a certain amount of wealth, while others are marrying after having already gone through a marriage. Parents of children from a previous marriage are often concerned about providing for their kids and a premarital agreement can help to resolve these issues. And younger people may have links to family businesses or other assets, and it may be beneficial for a couple to resolve potential future issues to maintain family harmony.

Source: Reuters, "When Valentines and prenups go together," Kathleen Kingsbury, Feb. 15, 2012

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The Haston Law Firm, P.C.
12807 Jones Road
Houston TX 77070

Phone: 281-653-7748
Toll Free: 866-470-4816
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