Before entering a marriage with a soon-to-be-spouse, you may wish to create a prenuptial agreement. In the event that your marriage comes to an end, an agreement can help ensure that your finances, investments, and valuable assets are protected. In this blog, our Katy family lawyer discusses what you should include in your prenuptial agreement.
Premarital Assets and Debts
The assets you’ve spent years acquiring before your marriage are known as “premarital” assets. This can include your savings accounts, pensions, employee stock options, and any inheritance you’ve received. Will you and your spouse intermingle your separate property with marital property? How will your premarital assets be handled in the event of a divorce?
Throughout the years of your marriage, both you and your spouse will accumulate assets and debts. In a prenuptial agreement, you and your spouse can decide if they will be owned jointly or if there is another arrangement that works best for both parties.
Credit and Debt
What does your and your spouse’s credit look like? Both spouses should take this opportunity to discuss their priorities in regards to paying off old debt or acquiring new debt. It’s important that both parties have an open discussion to address credit obligations, back taxes, and other joint credit issues.
The Katy family lawyers at Hunt Law Firm, PLLC strive to offer clients the one-on-one personal attention they deserve. To learn more about the firm’s services, call (832) 781-0320 or request a consultation.