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Prenuptial agreements for wealthy adult children

It's common for Texas residents to get married believing that they are entering a relationship that will last the rest of their lives. Unfortunately, divorce rates show that this is not always the case. Divorce takes on an extra level of complication for children of wealth. In many cases, it is beneficial for these individuals to create a prenuptial agreement prior to making their wedding vows.

In some cases, children of wealth do not grow up understanding the concept of getting married and having a prenuptial agreement signed before they wed. This is especially the case if their parents were not wealthy when they married. Therefore, it can be a challenge for wealthy individuals on the verge of matrimony to think about or talk about a prenuptial agreement. In fact, it is often the parents who encourage the kids to take this step to protect themselves.

The reasoning behind this is understandable. Parents want to keep wealth within their biological family. They don't want the wealth that they've created and passed on to their children to now disappear in the hands of an ex-spouse.

Parents need to realize that if a child signs a prenuptial agreement, they will need to fully disclose their assets. For many young people, this is the first time that they thoroughly understand their family's wealth.

Because of the challenges that young individuals born into wealth may have when discussing a prenuptial agreement with a potential spouse, it's important that parents talk to their children about it when they are young. Prenuptial agreements should be part of an overall discussion that families have about finance.

Although most people do not go into marriage thinking about divorce, statistics show that it becomes a reality for many. A family law attorney can help guide a client through the divorce process.

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