Texas Family Code Section 4.001-4.010 covers premarital property agreements or what's commonly referred to as prenuptial agreements in Texas. It defines a premarital property agreement as an agreement between potential spouses and doesn't cover people who are already married.
Premarital agreements are meant to define the rights and obligations for couples who are about to marry. Such agreements can cover any issue or matter in a marriage as long as it isn’t against public policy or law, limit a child’s right to support or defraud a creditor.
Premarital agreements can be used to limit or eliminate alimony obligations. They can also be used to preserve assets for children from an earlier marriage or clarify what property belongs to each party at the beginning of the marriage which helps determine what is community property or separate property later. Finally, premarital agreements can even be used to detail day to day marriage issues such as child care, housework, family finances, or religious upbringing.
If spouses end up going through a divorce, a premarital agreement can greatly reduce the issues that can be contested. This leads to reduced time and expenses associated with a divorce and greater certainty over outcome.
If you are entering into a marriage and believe a prenuptial agreement may be right for you or you have questions about how one could benefit you and your future spouse, I can sit down with you and explain your options. Contact our office and schedule a consultation at 972-542-6820.
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