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.
Address credit accounts, debt during property settlement process
When it comes time for a divorcing couple to discuss how the parties will separate their shared assets it can be hard for individuals to let go of certain items they do not want to see in the hands of their exes. Whether it is the family home, a vacation property, or another asset of value that causes strife during property settlement negotiations, Texas residents fight hard for the things they want to keep after their divorces are finalized.
Marital property division rules during a Texas divorce
A Dallas couple can work their whole lives to acquire the wealth and possessions they need to ease themselves into retirement and to have enough left over to bequeath their kids an inheritance. However, if the parties to a Texas union elect to end their relationship in divorce, they may see their hard earned assets divided up and each may leave their marriage with less than they believe they should. In Texas, community property rules govern marital property divisions and this post will briefly touch on some of the property considerations individuals should make when approaching their divorces.
