Most married couples in Texas may feel they have little in common with the rich and famous in show business. They may fantasize about the glamorous lives celebrities lead, and follow with interest the relationship highs and lows that often play out in the media. At the end of the day, you may feel there is very little you can learn from the love lives of celebrities. In fact, you may see many celebs making the same mistakes over and over.
Nevertheless, if you are planning to get married soon, you may find a valuable lesson in the tragic ends of many celebrity marriages. If there is one take-away, it may be that even in a fairytale world, it helps to be realistic about the future. For many, that means seeking the protection of a prenuptial agreement.
Prenuptial agreements are not just for the rich and famous
The fact is that nearly half of couples who marry will end up seeking a divorce. Despite the recent emphasis on mediation and other amicable methods of marriage dissolution, many family law attorneys still see a lot of contentious divorces. A prenuptial agreement may be difficult to introduce into a conversation with your intended, but it can go a long way toward reducing the amount of hostility between you and your spouse at the end of your marriage.
Not only that, but prenuptial agreements can open the lines of communication between you and your partner about inevitable topics that are difficult for many couples to discuss, such as the balance of responsibility in the marriage, the level of debt you deem acceptable and the financial behaviors you want to avoid as a couple.
The division of property
Of course, what makes the topic of a prenuptial agreement difficult to bring up is that the contract also identifies those assets you do not wish to combine with your spouse’s. This is why many advisors cringe when celebrities marry without prenup. You may not have royalties, movie rights or homes on three continents to consider, but you may have any of the following to protect from a bad outcome:
- A small business
- Your retirement fund
- An inheritance or family heirlooms
- The inheritance you wish to leave to any children from a previous relationship
- Any property you own prior to getting married
Your premarital contract can also protect you and your spouse from each other’s creditors or outline your agreement for paying off each other’s student loans or other debts.
More couples are considering the idea of a prenuptial agreement a natural part of wise marriage preparation. If you would like to learn more about how such a contract can benefit you, an experienced Board-Certified Family Law expert attorney in Collin County, Dallas County or Denton County, or elsewhere throughout the State of Texas, can provide answers and guidance.