Texas Prenuptial Agreements
Nobody goes into a marriage while simultaneously considering divorce. Although a prenuptial agreement is not the most romantic document in the world, such an agreement in no way signifies that you are not committed to your marriage or that you are anticipating a divorce. A prenuptial agreement can actually serve an important role in your marriage and can even help save time, money, and heartache in the long run.
A prenuptial agreement is nothing more than a contract between two people who are entering into a marriage. The contract is validated on the date of marriage, and if it is well-drafted, the court will presume it to be valid, and it will be difficult to bypass in the event that it should come into effect. It is important to recognize that a prenuptial agreement is applicable not only to divorce but also survives the death of either spouse and should be drafted in coordination with estate planning.
Texas is a community property state, which means that any property you acquire during your marriage is presumed to belong to both of you equally. A well-drafted prenuptial agreement will delineate that property that belongs to each of you separately. This separate property cannot be divided upon divorce or death.
A prenuptial agreement informs each spouse about the other’s property. Over time, however, the separateness of property can become blurred in a marriage. For example, if one of you comes into the marriage with a business that is recognized as separate property, but both of you continue to work and grow the business together, it can ambiguate the line between separate property and marital property. A well-drafted prenuptial agreement and careful bookkeeping can help.
Who Needs a Prenuptial Agreement?
Young couples who are entering into their first marriage and who have few assets (and who are not anticipating a large family inheritance or trust in the future) probably do not need prenuptial agreements. Such couples typically amass marital property together that rightfully belongs to both of them equally. If, on the other hand, you are entering a marriage and you have assets of your own or expect to acquire such assets through an inheritance or a trust, a prenuptial agreement is a good idea. Determining ownership of your assets prior to marriage allows each of you the certainty of knowing how these assets will be allocated in the event of divorce or death, and it removes the specter of the court’s discretion.
If You Are Considering a Prenuptial Agreement, You Need an Experienced Central Texas Divorce Lawyer
If you are not sure whether you need a prenuptial agreement or if you have concerns about a prenuptial agreement that you have been presented with, you need experienced legal counsel. Attorney Brett Pritchard at The Law Office of Brett H. Pritchard in Central Texas is here to help. Mr. Pritchard has the experience, skill, and dedication to draft a solid prenuptial agreement that protects your best interests as you move forward in your marriage. For more information, please contact or call us at (254) 220-4225 today.