A prenuptial is a legal contract or agreement entered by two people prior to marriage. The prenup can include spousal support/alimony and division of property in the event of a divorce. A prenuptial is only valid if it is completed and signed before marriage. Currently, a prenuptial is recognized in all fifty states and typically requires five elements to make it valid: it must be in writing, must be executed voluntarily, full disclosure, cannot be one-sided/unjust, and it must be executed by both parties.
Most people would think they don’t need a prenup because they’re not rich or own any property before marriage. But those days are gone. If you plan to give up your career to raise children, own property during your marriage, or have income separate from your spouse, it would be wise to have a prenup. You can also outline any consequences of adultery that leads to divorce.
Reasons to Get a Prenup
In what circumstances should you consider drafting a prenup? If you or your future spouse brings in major debt, property, children, or more wealth than the other are good reasons to have a prenup.
Dividing debt can limit your responsibility when it comes to your spouse’s debt during your marriage or in the event of a divorce. You can save time and money if you figured out how the debt will be handled.
If you or your spouse inherited property, you both can decide that the property remains with each spouse individually in the time of a divorce.
Prenups can’t prevent a parent from paying child support or force a parent to pay a larger amount. It also can’t pre-determine visitation.
Prenup in Texas
What if you don’t have one? No problem. In the state of Texas, you are protected from the dividing up of assets that legally belonged to you prior to marriage. If you can prove your separate property belongs to you, it will remain yours. But what some people don’t know, if both parties agree, assets acquired during the marriage can be protected in a prenup. For a prenuptial to be legal in Texas, the following requirements must be met:
- the agreement has to be in writing
- it doesn’t have to be supported by “consideration”
- it must have been written and signed with a definite marriage in the future
Family Law Attorney in Wylie
There is nothing easy about asking your future spouse to agree on a prenup. But the reality is that prenups can be beneficial to both parties. While everything above is a brief rundown of prenuptial, you will still need the guidance of a professional family law attorney. The attorneys at Edmondson Law, PLLC have what it takes to craft a prenuptial agreement that will work for you. Contact us at 972-442-8326 or visit us at www.wylietxlaw.com.
Information, Not Legal Advice. We provide the information on this website as a public service. The legal landscape is constantly changing and being modified by state law and case law. As a result, we cannot promise that this information is always up-to-date and reflective of the most current jurisprudence.
We do not intend this information to be legal advice. By providing this information, we are not acting as your lawyer. If you need legal advice, you should contact a lawyer through our number (972) 442-8326 or contact another attorney of your choosing.