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Specialty tag(s): Prenuptial and Postnuptial Agreements

Why Is a Prenup a Good Idea for Loving Couples Preparing to Marry?

Chandler Rice Winslow | July 15, 2024

The annual Valentine’s Day holiday is a reminder of how much importance we place on letting our significant others know how much we care about them. The well-prepared will have made romantic dinner reservations, ordered flowers, purchased jewelry or other fine gifts, written thoughtful love notes on cards, or some combination of those traditional gestures, while the not-so-well-prepared will be hitting up drugstores and Amazon Prime for packages that say, “I love you.”

Some, of course, will even plan the grandest, most romantic gesture of all: a marriage proposal. For those who make proposals and those who say yes, the holiday will be an annual reminder of the decision to make that pledge to commit to one another forever and ever.

But as we all know, even couples with the best intentions to stay together sometimes find themselves unexpectedly seeking divorce. This is why soon after the romantic proposal is made and accepted, or even before a marriage proposal is made, it’s a good idea for couples considering marriage to assess the need for a prenuptial agreement. Here are a few reasons why a prenup is a good idea.

Why Is a Prenuptial Agreement a Good Idea?

A prenuptial agreement can be the foundation for a stronger, happier marriage. Creating a prenup helps couples to start their new life together on firm footing. Prenuptial agreements provide couples with a secure structure to have crucial conversations about their expectations and goals as a married couple.

Prenuptial agreements provide engaged couples with a framework for identifying the property they bring into the marriage and ways to preserve and handle the property in the event of death or divorce.

Another reason why a prenup is a good idea is that a well-written prenuptial agreement allows a couple to protect the assets they bring into a marriage while they’re still very much committed to each other and can come to an agreement on what’s fair and just. Without a prenuptial agreement, a divorcing couple has to make those same determinations about what’s fair and just in a very different emotional state, one in which each partner might feel entitled to a larger share in response to feelings of anger or fear.

Who Benefits From a Prenuptial Agreement?

Contrary to popular belief, a prenup is a good idea for everyone, not just high-net-worth and high-asset couples. Prenuptial agreements are for anyone who has dedicated valuable time and effort to achieving their goals and status. They can help ease concerns about questions that engaged couples often have:

• What happens to my property after I get married?
• Will my business be protected in the event of a divorce?
• How will my separate property be handled if we split up?
• How can I maintain certainty in my life during a divorce?

Prenuptial agreements can also be helpful to couples who enter marriages from different financial positions. For example, suppose one partner makes less money than the other or carries more debt. In that case, a prenuptial agreement can alleviate some of the pressure that a financial disparity between spouses can create.

Prenuptial agreements can also help those couples who do end up divorcing to avoid extensive litigation over finances. If a couple must continue to work together after a divorce, especially if they’re raising children together, a prenuptial agreement can make for a less contentious divorce process and a better relationship moving forward.

Why Are Prenups Good for Establishing Open Communication?

Prenuptial agreements are an entryway to discuss financial goals and expectations. It’s helpful for couples to go into the prenup process with the idea that prenuptial agreements are not one-size-fits-all. Instead, it can be a process in which partners make legal determinations about the assets they each bring into a relationship and build a healthy dialog about their financial goals and how they’ll approach finances together.

Being upfront about finances at the outset, through the prenuptial agreement process, can help couples maintain a healthy, open discussion about money, avoiding the secrecy and avoidance around finances that has led far too many couples down the path to divorce.

Build a Secure Future Together With Our Help

At Goranson Bain Ausley, our approach is to minimize the destruction of divorce. Working with clients to create a prenuptial agreement is one way we help couples get into the mindset of working together to resolve financial issues and commit to the long-term success of both partners.

Chandler Rice Winslow has been honored as one of D Magazine’s Best Lawyers Under 40 for 2022. With extensive experience in business and real estate law, Chandler also represents a diverse range of clients in family law, including both working and non-working mothers. Her deep understanding of business operations allows her to effectively assist business owners in distinguishing between separate and community property. Chandler is highly sought after for her expertise in drafting pre- and post-nuptial agreements and resolving complex custody disputes.

For more information about premarital agreements in Texas, please contact Chandler Winslow at 214-373-7676.

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