Prenuptial Agreement in Texas: What You Need to Know
Getting married is one of the most exciting moments in life. However, before you dive into your happily ever after, it`s essential to think about the future and the potential risks that may arise in your marriage.
A prenuptial agreement, also known as a prenup, is a legal contract that couples sign before getting married. This agreement outlines how their assets and debts will be divided in case the marriage ends in divorce or death. It`s a way to protect yourself and your financial future.
In Texas, prenuptial agreements are governed by the Texas Family Code. This law outlines what can and cannot be included in a prenuptial agreement. Under Texas law, a prenuptial agreement can address the following:
1. Property Division: In Texas, any property that you own before the marriage is considered separate property. However, anything you acquire during the marriage is community property, which means it is owned equally by both spouses. A prenuptial agreement can outline how this community property will be divided if the marriage ends.
2. Spousal Support: A prenuptial agreement can address spousal support, also known as alimony. This agreement can outline how much support will be paid and for how long.
3. Business Interests: If you own a business, a prenuptial agreement can outline how your business will be divided if the marriage ends.
4. Debts: A prenuptial agreement can also address how debts will be divided in case of divorce or death.
It`s important to note that a prenuptial agreement cannot address issues related to child support or child custody. Those issues must be addressed separately and determined by the court.
To ensure that your prenuptial agreement is valid, both parties must provide full disclosure of their assets and debts. Additionally, both parties must have the opportunity to review the agreement with a lawyer before signing.
While prenuptial agreements are not romantic, they are a practical way to protect yourself and your financial future. If you`re considering getting a prenuptial agreement in Texas, make sure to consult with an experienced family law attorney to guide you through the process and ensure that your interests are protected.