Signing a prenuptial agreement with your future spouse can provide financial protection to both of you in case of a future divorce. Common prenuptial agreement conditions in The Colony cover decisions regarding property division or spousal support. Reviewing the provisions that couples frequently include could help you and your future spouse decide what you would like to cover in your own agreement. An experienced prenup attorney could ensure that your document is enforceable and clearly reflects your wishes.
Property division is the most common issue covered in prenuptial agreements. Texas is a community property state, meaning most property and debt acquired during a marriage is jointly owned by both spouses. In contrast, anything owned before the marriage is considered separate property.
To avoid any uncertainty during a divorce, couples often use prenuptial agreements to establish any property they do not want to be treated in this way. For example, even if one person owns a home before their marriage, the couple might choose to treat it as community property. If one spouse plans to take out student loans after marriage, the couple might agree that those loans are their responsibility. When one spouse owns a business, prenuptial agreements often specify that they are the sole owner and it will not be split up in case of a divorce.
Spousal support is another important topic often addressed in prenuptial agreements in The Colony. Couples with similar incomes generally choose to waive spousal support. However, couples can choose to guarantee spousal support to the lower-earning spouse if there is a greater income difference or one spouse makes career sacrifices to support the other.
Gifts or inheritances are usually considered separate property, but this can become complicated if assets are placed in shared accounts or mixed with community property. Couples often use prenuptial agreements to determine exactly how gifts and inheritances will be treated to prevent confusion.
Tex. Fam. Code § 4.003 allows almost any legal conditions to be included in a prenuptial agreement. Major exceptions include child custody and child support. Couples cannot use a prenuptial agreement to create a child custody arrangement in advance, and instead, family courts make or approve these decisions based on the child’s best interest at the time of a divorce.
Prenups also do not allow either party to give up the right to child support. However, couples can agree to provide more than the minimum requirements. For example, they could specify that the wealthier spouse will pay their child’s college tuition in the case of divorce.
The most common prenuptial agreement conditions in The Colony address property and debt division, spousal support, and business protections. Working with an experienced family lawyer ensures that your agreement is tailored to your needs and concerns. Prenuptial agreements should facilitate communication and help both parties feel more financially secure, not create conflict. Contact Towson Law Firm to schedule a prenuptial agreement appointment today.
Our Law Firm’s approach to your case is based on individual circumstances. Whether it is a simple negotiated settlement, or it requires an aggressive approach, we will protect and defend your best interests.
