Prenuptial agreements can address a multitude of issues beyond the division of assets when a couple divorces.
Let’s discuss just a couple of other topics that many couples find it helpful to consider when drafting their prenups.
Student loan debt
Many spouses bring student loan debt into their marriage. As long as that debt stays in the name of the person it belongs to, the other spouse can’t be held responsible for any of it in a divorce. However, sometimes one spouse will help the other make their student loan payments. If the couple divorces, that spouse might want their money back. It’s best to address in a prenup whether that will be the case so that both spouses have clear expectations.
In other cases, marital assets are used to pay one or both spouses’ student loans. That can complicate things. However, again, you can specify whether a spouse will be reimbursed for a portion of marital assets used to pay the other spouse’s loans.
Pets
Some couples fight harder for custody of their beloved pets in divorce than anything else. If either or both of you is bringing animals into a marriage or planning to adopt them later, it may be worthwhile to address who will get those animals in a divorce.
It may be difficult to determine what will happen to animals you haven’t yet met. You may adopt a dog that bonds with one spouse more than the other. You may prefer to stipulate that both spouses will be able to have access to any pets you have if you divorce. You may want to designate that the animals will stay with whichever spouse has primary custody of the children. However, if you’re both animal lovers, this may at least be something to discuss as you draft your prenup.
These are just a couple of things that you might want to consider addressing in a prenup. If you didn’t put a prenup in place, you may want to consider a postnuptial agreement, which can address the same issues as a prenup. An experienced Texas family law attorney can provide valuable guidance with either type of agreement.