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New ways to use prenuptial agreements

| Mar 30, 2014 | Prenuptial Agreements

It used to be that prenuptial agreements were considered to be needed only by people who were extremely wealthy or famous. Today, however, the creation of a prenuptial agreement has become more common for Texas couples that do not fall into either of these categories. Other couples have found that postnuptial agreements are also useful at times they would not have thought of before.

Historic use of a marital contract was to identify what property rights, specifically the difference between separate and marital property. Additionally, agreements relating to alimony payments in the event of divorce proceedings can be included in a prenup or postnup. Identification of inheritance wishes or other estate planning has grown as a reason that many people utilize these contracts.

A recent news article discussed what is referred to as a lifestyle clause that can also be part of a prenuptial agreement. This clause is essentially an agreement between the parties as to how one or both spouses should—or should not—behave during the marriage. This includes anything from faithfulness to the performance of household chores. No matter the topic, financial penalties can be stipulated for lack of compliance. In the case of infidelity, however, proven the action may not always be possible.

Couples who are planning a marriage or maybe are already married might give consideration to talking with an attorney about a prenuptial or postnuptial agreement. Learning more about the available options can give both people the information needed to determine if such a contract is right for them.

Source: Forbes, “Can A Prenup Or A Postnup With An Infidelity Clause Deter A Husband From Cheating?,” Jeff Landers, March 13, 2014

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