Prenuptial Agreements and Postnuptial Agreements in Austin, Texas

 Posted on June 06, 2023 in Family Law

Assets acquired during a marriage are considered community property in Texas. That means that, if you divorce, the property is equally distributed between you and your spouse. 

Prenuptial and postnuptial agreements can help you divide most assets on your terms. Our Austin family lawyers can help you make an informed decision to minimize the risk of arguments and complex property litigation in the event of divorce. 

Who Should Sign a Prenuptial Agreement?  

As the name suggests, prenuptial agreements are made before the marriage. 

According to Texas law, the couple needs to draft a premarital agreement “in writing” and ensure it is “signed” by both of them. The signature confirms that both parties mutually agreed on the ownership and distribution of assets/property. 

The conditions are effective after marriage and will become “enforceable without consideration” in case of a divorce or the death of a spouse. Note that the right to child support is not part of a premarital agreement. 

Prenuptial agreements are the right choice for the following situations: 

• If you or your partner own a large estate or have valuable assets 

• If either of you has children from a previous marriage whose inheritance needs to be protected 

• If you want to prevent your  independent business or business shares from being divided if your marriage fails 

• If you expect to inherit assets from a wealthy family member or a trust fund after marriage, you can use a prenuptial contract to have sole ownership of those assets

An attorney can outline asset and property distribution before marriage carefully. Doing so prevents lengthy court battles during a divorce. 

Who Should Sign a Postnuptial Agreement? 

If you did not have time to sign a prenuptial agreement, you can draft a postnuptial agreement after marriage. You can make arrangements right after the wedding or years later. 

Postnuptial agreement may be beneficial in the following situations: 

• You are starting an independent  business venture and do not want it to be listed as community property in the event of divorce

• You unexpectedly inherit a significant amount of money from a relative

• You do not want to be responsible for your spouse’s debts 

• You need financial security if you decide to become a stay-at-home parent 

Contact an Austin Prenuptial and Postnuptial Agreement Lawyer

If you are interested in setting up a prenuptial and postnuptial agreement, ask our experienced family attorneys for advice. Our lawyers are well-versed in the subject and can answer your queries objectively. We can also provide personalized support to ensure the agreement aligns with your unique needs. Dial 512-610-6199 to learn more about the legal services provided by Austin prenuptial and postnuptial agreement lawyers from Powers and Kerr, PLLC. 

Source:

https://statutes.capitol.texas.gov/Docs/FA/htm/FA.4.htm