Why marital contracts make sense for Frisco couples
Many couples in Frisco, Texas may believe that prenuptial agreements are not for them if they are not considered to be extremely wealthy or do not have large, valuable estates and assets. That could not be further from the truth. Postnuptial and prenuptial agreements today have evolved to offer benefits for virtually any engaged or married couple.
Divorce protection and beyond
Modern marital contracts provide the opportunity for couples to protect themselves in the face of a divorce but the benefits extend beyond that as well. Regarding divorce, the financial and emotional risk of the end of a marriage is sadly real. However, when this happens, partners deserve to be protected.
For couples who are already married and choose to have one spouse quit work in order to stay home with children, postnuptial agreements can provide future financial stability in exchange for the person’s willingness to give up a secure income stream, as noted by The Daily Beast. It is a fact that when attempting to re-enter the workforce after many years away from it, people are not likely to find employment at a rate of pay comparable to what had been earned previously. Support provisions in these contracts can help to offset that difference.
Fox News provided information on social media clauses that are becoming more popular in many prenuptial agreements today. These are provisions intended to prevent one partner from essentially marring the other person’s reputation via social media platforms. This can come in the form of unflattering photos, negative comments or more. When developing these clauses, couples are urged to be as specific as possible about what is allowed and what is not allowed. Similarly, it is wise to attempt to outline the nature of the damage that may be caused in the event that negative posts are made. For people with business interests, this may translate into loss of business for example.
One of the clearest examples of the benefits of a prenuptial agreement that does not pertain to a potential future divorce is estate planning. The New York Daily News points out that prenups can be great vehicles for this, especially for couples who are entering into remarriages and have children or even grandchildren from their prior marriages.
Proper contract development matters
The Huffington Post notes that one of the most important aspects of any prenuptial or postnuptial agreement is that the clauses are all reasonable. There should be no attempts on the part of one spouse to control frivolous things such as hair color of the other spouse. Such stipulations risk the contracts being deemed invalid. Working with an attorney is always recommended for anyone interested in creating a marital contract.