Prenuptial Agreements Attorney in Spring, Texas
In the midst of all the joy and excitement that a new marriage can bring, there are also very real considerations you’ll need to take into account regarding how your assets will be shared. This is especially true for those who marry later in life and those who have been previously married, but anyone entering into a serious partnership like this should look critically at these issues.
Specifically, you may want to consider signing a prenuptial agreement with your new spouse that outlines your plans to protect your assets. And although many people may have a general idea of what a prenup does, they may not be able to answer basic questions such as, “Who should sign a prenuptial agreement?” and “What should a prenuptial agreement cover?” For more help with this topic and to speak with a qualified family law attorney, contact the Robin Scott Law Firm, PLLC, serving those in Spring, Texas, as well as Harris, Montgomery, and Fort Bend counties.
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Prenuptial Agreements in Texas
A prenuptial agreement (also called a marital agreement) is a legally-binding document that both spouses freely sign that outlines what will happen with certain property and assets during the marriage and in the event of divorce. There’s also an option to form an agreement like this after you’re already married and this is called a postnuptial agreement, but both documents will follow the same basic process.
What do they cover?
Each prenup will be written specifically for that couple and no two will be alike. That said, there are common issues they can cover.
One of the most important involves the distinction between marital property and non-marital property (called separate property). Typically when a couple is married, any assets that are acquired by either spouse during the marriage are considered marital property with some exceptions given for inheritance. Then in the event of a divorce, this jointly-held property will be divided equally between the two spouses. With a prenup, you can stipulate what assets should be considered marital and which should be considered separate ahead of time, and this will be legally binding in the event of a divorce.
It can also help you separate existing debts from becoming jointly owned, address future spousal support concerns, and stipulate what will happen with any inheritance you pass down which can be especially useful for those who have children from past marriages.
What don’t they cover?
A prenup can’t cover other financial concerns such as child support, child custody, or parenting time arrangements. All of this must be decided during the divorce and written up in your divorce decree. Prenups also can’t lay out tasks that each spouse is expected to do during the marriage.
Can they be modified?
Yes, prenups can be modified at any time as long as both spouses are in agreement about the change.
Who Should Get One?
Not sure if you're on board with signing a prenup? They aren’t necessarily for everyone, though it’s hard to ignore how useful and practical they can be. A prenuptial agreement is especially ideal if any of the following scenarios apply to you:
You're entering into your second marriage. You understand the possibility of divorce and the time, money, and stress involved in the process. A prenup can help you avoid experiencing it all over again to the same magnitude.
You have children from a previous relationship. A prenup can help protect your assets and your children’s inheritance from getting split with their other parent.
You own and operate your own business and want to make sure it stays 100% yours in the event of divorce. A prenup can help you clarify and legally enforce your intentions.
To understand the specific advantages a prenup offers you and your family, be sure to consult a trusted family law attorney in your area.
Why Marital Agreements Are Important
For many couples, the benefits of a prenuptial agreement far outweigh any negative connotations that may come with it. For one, they help a new couple draw clear boundaries about finances which can make their lives easier in the long run. By having these honest and tough conversations upfront, you’ll each have an opportunity to explain what’s important to you and decide how you can work together to achieve your individual and mutual goals.
They can also serve as added protection in the event that something changes down the road. Of course, no one plans on getting a divorce right off the bat, but people and relationships do change and even the best couples may eventually seek separation.
Ensuring It’s Enforceable
Finally, if you choose to pursue a prenuptial agreement, it’s essential you work with a reputable attorney who can ensure your prenup is well-written and enforceable. If there’s any suspicion that one of the partners didn’t sign the agreement voluntarily, or that the agreement is “unconscionable” (meaning that although both partners are in agreement, a judge has determined it to be grossly unfair to one partner), it can be invalidated.
Prenuptial Agreements Attorney Serving
Whether you are contemplating writing a prenuptial agreement or your fiancé has asked you to sign a prenup, reach out to Robin Scott Law Firm, PLLC in Spring, Texas, to schedule a consultation and discuss your options.