You and your future spouse will hopefully go into marriage with a tremendous sense of optimism, but there may be many unanswered questions, never more so than when one or both spouses bring children to the union. With so many questions, it may make sense to have a valid premarital (prenuptial) agreement, which can provide clear boundaries, particularly in the early years of the marriage. As time passes, the blended family’s relationships will hopefully evolve. When this happens, the parents could modify or determine what is no longer necessary.
A plan for your children
Prenups typically cover financial concerns like business ownership or support responsibilities during the marriage. A prenuptial agreement does not cover child support or custody, but you can still be mindful of earmarking assets for your children. These can include:
- Investments
- Business ownership
- Savings accounts
- Property
- Inheritance
These assets may not get immediately passed to the children, but keeping control of your assets ensures that you can control how much financial support you want to provide to your children.
An obligation to support their children?
A spouse can also specify that the new stepparent has a legal obligation to support a new stepchild. These agreements should be financial in nature and avoid private domestic matters. They can involve living expenses, money for education, and generally offer equal financial support during the marriage. If there is no valid agreement in place, the stepparent has no legal obligation to provide for their stepchild. It becomes a moot point if the stepparent eventually adopts their stepchildren.
Prenups establish clear parameters
The blending of two families often comes with complications, which adds to the stress for all involved. So, creating a valid premarital agreement with the help of an experienced, Board-Certified Texas Family Law expert attorney can help push some lingering doubts aside and let the family focus on building a new life together.