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Plano Family Law Blog

Prenups can help with more than just asset protection

Many things can make younger marrying couples different from other married couples. For one, younger couples may be more likely to not have much in the way of assets going into a marriage. This might lead some young couples to assume that getting a prenuptial agreement wouldn’t really be that much of a help to them, as they might not have many assets to protect.

While a prenup can be very helpful when it comes to asset protection, this is far from the only important role such an agreement can serve. So, a couple heading towards marriage doesn’t have to be rich for a prenup to potentially be beneficial for them.

Your business is on the line during divorce

You built your company with your own blood, sweat and tears. You also spent a considerable amount of money to get it up and running. Perhaps you brought in a partner or two, and things have been going smoothly, gaining momentum and turning a profit.

Then you got married. While the fate of your business was probably the last thing on your mind when you took your vows, you may be wondering now if you have placed your hard work in jeopardy by tying the knot. What will happen to your business if you and your spouse divorce? How can you save your company from the damaging consequences of asset division?

Business owners and divorce

Most business owners know that, when it comes to running a business, having the right team can make a huge difference. What quality of team a business owner has around them can have big impacts as their business navigates the various challenges and issues that may arise in the ordinary course of business.

However, the team a business owner forms in relation to the running of their business is not the only team that can have big implications for their company. Another is what team they have when they are divorcing their spouse and property division issues related to the business then foreseeably arise.

Divorce and a child's physical health

Among the many things parents want to protect when it comes to their kids is their children's health. A lot of different things can have impacts on a child's health. A recent study suggests that what parents do when getting divorced could have various health implications for their kids.

The study looked at 467 individuals between the ages of two and 18. Some of these kids had parents who were together, while others had parents who were separated. The study compared the kids of separated parents to kids in nuclear families when it came to rates for a range of different health conditions.

3 aspects of a prenup that could protect your business and wealth

As a business owner, you may have felt fulfilled in terms of having a successful career that has brought you ample financial security. However, you may also have felt that something was missing in your life when it came to personal relationships. Now that the time has come to get married, you may wonder what effects your marriage may have on your business ventures and wealth.

Though you may have a willingness to share your financial success with your new spouse, you likely also understand that the possibility exists of your marriage ending. Because you certainly want to protect your business should you face divorce, you may want to create a prenuptial agreement.

Setting expectations regarding social media going into a marriage

Social media has come to play a big role in how people connect and stay connected with others, particularly among millennials. So, how individuals act when it comes to social media can have considerable implications on their relationships. This doesn't just include friendships, but also romantic relationships, such as marriages.

There are certain types of social media behavior that could pose problems within a marriage. This includes engaging in behavior online that could cause one's spouse to feel jealous or feel that their trust has been violated. It could also include conduct that could tempt a person to be unfaithful. Additionally, it could include a person spending so much time and energy on social media activities that their spouse doesn't feel that they and the marriage are getting the attention they need.

Things it is important for stepparents to keep in mind

When a person has become a stepparent, there are many concerns they may have which are related to a stepchild. Among these are concerns regarding how to support their stepchild, protect the child's well-being and provide them with a stable family environment.

When trying to address these concerns and the challenges that can come up in connection to them, there are certain things it can be critical for stepparents to keep in mind regarding stepchildren, such as: 

  • A stepchild's life has been affected by many things outside their control, and this can be greatly impacting how they feel about the whole situation.
  • A stepchild may feel confused by new sets of family dynamics.
  • A stepchild may feel the need or pressure to make someone "the villain".

When the going gets tough, the tough modify their court order

No divorce is ever completely straightforward, especially a high asset divorce. It can be time-consuming and sometimes downright unpleasant to settle all the matters pertaining to asset division and spousal support, where applicable. A divorce with children can be especially complex.

Once all that work is behind you, and you and your children have moved on with your lives, probably the last thing you want to do is go back down that road again and try to change things. However, there may come a time when you feel you have to amend the child support order, and you may not be sure how to proceed. 

Having the right documents important when preparing for a divorce

A person has much to think about when considering finally ending their marriage. In this often stressful and emotion-filled time, it can be important for a person to not forget about document issues. Having the right documents can be critical when one is getting ready for a divorce.

Many documents could end up being important in a divorce. This includes a wide range of different financial records. It also can include non-financial documents, such as medical records. Making sure one has copies of relevant financial records and other important documents can be a key step for a person to take when their marriage is headed towards divorce.

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