You are getting married! Now it’s time to start merging households, combining finances, possibly sharing investments and maybe even debt. Texas is a community property state for married couples and sometimes even those that live together. But wait, perhaps you have some business interests, or investments from your previous marriage or other property that needs to be considered before you say “I do.” Maybe you should talk to an attorney to consider any DFW prenuptial agreements?
A “prenuptial agreement” is an document and/or contract between you and your fiancé, or your life partner that is drafted and signed before you get married. A prenuptial agreement spells out any previous property, investments, debt or furnishings as separate property prior to marriage and after marriage (should that occur in the future.
Are Prenuptial Agreements Right for Everybody?
Anyone with a business, house, real estate, investments, or potential inheritance who wish to keep those assets in the event of a future divorce, may want to consider a prenuptial. Texas is considered a community property state, therefore when you start living with someone, you may be subjecting yourself to shared property. A prenuptial can establish separate property determined by both parties to protect or separate property in the future.
Can You Enforce a Prenuptial Agreement?
It depends. Although prenuptial agreements are not popular, they can be enforced if written correctly and updated from time to time. Depending on the types of assets and issues involved, a prenuptial agreement may need to pass several tests to be upheld in court. Generally, these tests will determine if the prenuptial agreement was fair and if both parties understood the terms when it was executed, affirmed and updated.
Does Getting a Prenuptial Agreement Increase the Chance for Divorce?
No, we believe that a well drafted prenup agreement prepared by skilled lawyers can actually divorce-proof your marriage. Why? Because the process brings to the surface any unexpressed expectations about marriage before a couple actually says “I Do.” Nevertheless, divorce can present itself in any marriage and a prenuptial agreement helps simplify the process in regards to assets during a divorce.
How Do I Discuss a Prenuptial Agreement with My Fiancé or Significant Other?
We recommend having a frank and clear discussion. It is important to your future marriage that you discuss communication on finances, assets, debt, business ownership, and investments with your potential spouse. We believe details subjects on this level should improve your communication and allow you to further commit to one another.
Contact Our DFW Family Lawyers & Discuss DFW Prenuptial Agreements
If you have further questions or want to arrange a confidential consultation, please Contact Us today. We can meet with you and help you achieve the solutions you need.