In the past, it was not uncommon for individuals to get married young and to build their lives and wealth with their spouses. Today, however, more and more people are holding off on marriage and establishing the careers before committing to long-term relationships. As a result, Austin residents may come into marriages with independent wealth that they would like to shelter from becoming marital assets.
Business and premarital separate assets can be addressed in premarital and post-marital agreements. These agreements are created between marital partners and can cover topics related to property and financial affairs. They cannot cover topics related to the custody and care of children, and there are other prohibited topics that may not be addressed in them.
But, through a marital agreement two individuals may decide that one’s premarital business should remain their separate assets even if the parties decide to end their marriage in divorce. They may stipulate that the other has no claims to collect from the business in the event that the marriage ends and that the owner may emerge from the relationship with their business interests intact.
Ensuring that one’s business interests and assets are protected in a marital agreement is an important step toward protecting their financial security in the even that their marriage does not last. In order to ensure that the terms of such an agreement are clear and comprehensive, a person may want to use the services of a family law attorney. Individuals who work in this particular field of law are knowledgeable about the legal requirements of preparing such documents.