How can a prenuptial agreement protect me in Texas?
Under the Texas Family Code, parties are allowed to enter into a prenuptial agreement, better known as a prenup, before marriage. The agreement will be enforced in the event of divorce so long as it meets the requirements set out under Texas law. Bringing up the subject of a prenup before marriage is not always easy, but Texas couples are urged to consider the many benefits of a prenup prior to marriage. Our Midland, Texas family law lawyers at Navarrete & Schwartz, P.C., discuss the pros of arming yourself with an enforceable prenuptial agreement below.
Protecting Your Property
You may have worked hard for many years to save money or purchase property, or perhaps you inherited from a relative. Either way, you will want to protect your property in the unfortunate event you and your spouse eventually divorce. Upon marriage, your separate property remains your separate property, but a prenup can clearly define what property you entered into the marriage with. By default, any property or income obtained during the marriage will become community property. You can instead agree that this property stays separate property, or you could agree on a method of division in case of divorce.
Avoiding Confusion as to Finances
When you and your soon to be spouse enter into a prenuptial agreement, you will have a frank conversation about finances. Negotiating a prenup can actually strengthen your relationship and avoid any false expectations. You will work out financial disagreements before you marry, which can benefit both of you in the long run.
Supporting Your Estate Plan
Your prenuptial agreement can be used to control the distribution of your property upon your death. Without an estate plan or prenup, community property could go to your spouse’s family or children from another marriage. You can specify which property is to remain your separate property and thus go to your heirs in your prenuptial agreement. This is best done in conjunction with a thorough estate plan.
If you are planning a wedding and considering entering into a prenuptial agreement, contact an experienced Texas family law attorney. Your lawyer can simplify the prenup process so that you and your spouse start your marriage without any confusion or disagreements as to finances.