Prenuptial agreements are not just contracts that the super wealthy make with their partners before they get married. In fact, many Texas couples consider and eventually do execute prenups before they wed. This is because a prenuptial agreement can spell out how certain items of property and wealth will be treated in the event that a marriage ends in divorce.
In a prenup a person may identify and protect assets that they owned on their own before their marriage and create through an agreement the protection of those assets as separate property. During a marriage separate property can sometimes be converted into marital property which is then subject to division. A prenup can therefore keep separate property separate and stop a soon-to-be ex from claiming ownership in something that is not theirs.
Therefore, readers may be able to see the value in prenuptial agreements for individuals who fear that their personal wealth may be diminished if their marriages fail. There are other benefits to executing prenups, such as setting out financial expectations for marriages and streamlining negotiations when divorces occur, but as with all legal matters individuals must choose for themselves if their interests would be met through the execution of prenuptial agreements.
In Texas individuals who do not enter into prenuptial agreements before their marriages are not completely out of luck if they later want the protections offered by them. Post-nuptial agreements can serve the same purposes and can be executed once marriages are established. Legal professionals who work in the family law field can give their clients the time and information necessary to decide if prenuptial or post-nuptial agreements are right for them.