Prenuptial And Postnuptial Agreements
When a marriage ends in divorce in Texas, all property, financial assets and debt acquired as a married couple will be subject to classification as marital property and subject to valuation for equitable distribution and litigation.
Very Few Exceptions To The Marital Property Rule In Texas
The only property that will not be subject to marital property laws will be assets protected by a prenuptial agreement signed before the wedding, or a postnuptial agreement signed by both spouses after the date of marriage.
If you are considering marriage and wish to protect certain assets from possible classification as marital property in the event of divorce, it is critical to have a valid prenuptial agreement in place many months before the date of the marriage.
There are certain conditions that must be considered to make sure prenuptial agreements are airtight, including:
- Both parties must be represented by independent legal counsel (their own lawyer) or represent themselves.
- The agreement must be in place prior to the date of marriage
- Neither party can sign the agreement under emotional or financial duress.
Prenuptial agreements are particularly important for couples getting remarried, especially if there are children from a previous marriage. Agreements can be written to ensure that certain property from a previous marriage will be passed down to the control of the biological children for both spouses. This often eliminates the worry about litigation from stepchildren who may claim an inheritance as marital property.
Call To Learn More
To learn more about the importance of prenuptial and postnuptial agreements to protect separate property, call me, attorney Rebecca Gonzalez, in San Antonio, Texas. I can be reached by email or by calling 210-888-9836 or toll free at 800-823-6321.