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Prenups For Same Sex Couples

Posted on in Prenuptial Agreements

Although in many ways, the legal impact of same-sex marriage and same-sex divorce are relatively new to the field, a growing area of interest involves whether same-sex couples need prenuptial agreements. Many of the new couples moving toward marriage in the multiple states across the country that now allow same-sex marriage already have established financial assets. Even if these couples have been living together for a long time, the consideration of whether a prenuptial agreement may apply is a worthy discussion to have with an attorney.

LauraSimply put, it's likely that one or both individuals involved in the upcoming union has accumulated some assets over the course of their life. Entering into a marriage is an excellent opportunity to discuss their financial standing and determine whether prenuptial agreement could help to outline the guidelines for their union. Unfortunately, same-sex marriages will not be immune from divorce, and proper planning can go a long way towards reducing agony and financial instability down the line.

One special concern regarding same-sex marriages is when these individuals live in a community property state. In community property states, assets accumulated by the married couple are accessible to creditors of either spouse. In this way it's possible to view the assets of a newly married couple as being exposed to double the amount of potential creditors. For this reason, it can be critical to outline your wishes in a prenuptial agreement.

Preparing a prenuptial agreement should not be thought of as preparing for the worst. Rather, they should be considered as careful and thoughtful financial planning for both parties involved in an upcoming marriage. If you are considering drafting a prenuptial agreement, you should retain the services of an experienced Texas family lawyer. Protecting your assets and your future is an important procedure and one that should only be conducted under the guidance of an experienced attorney.

The Law Offices of William D. Powers

8911 N. Capital of Texas Highway, Building 2, Suite 2105, Austin, TX 78759