Texas Prenuptial and Postnuptial Agreement Attorneys
A prenuptial agreement (also called a prenup) may not seem that romantic at first glance, but it may be one of the best things you can do for your marriage because it involves honest communication about your relationship and lays out the financial plan for your marriage in legal terms.
Perhaps this is why prenups have been around in some form or another for thousands of years. A prenup is a written contract that establishes the property and financial rights of each spouse in the event of a divorce. It typically lists all the property each person owns, any debts owed, and specifies what each person’s property rights will be after the marriage.
A postnuptial agreement, which is sometimes referred to as a post-marital agreement, is a legal document designed for couples who are already married or in a civil union. Many couples enter into postnuptial agreements to help resolve issues in their marriage by removing sources of disagreement over finances, children, and even chores. Other reasons for postnuptial agreements include a change in the financial status of either spouse after the wedding. This could include career changes, receiving an inheritance, or selling a business. For some couples, a postnuptial agreement can stop conflict and promote goodwill and harmony in their marriage.
Planning for the future is one of the most important things any couple can do. Doing so can give both spouses a clear picture of their future together and prepare a couple for obstacles that life will present. Whether you are thinking about getting married or have already tied the knot, protecting yourself with a prenuptial or postnuptial agreement is a practical move that can be designed to benefit both spouses in the event of divorce or separation.
Austin, Texas Family Lawyer
A prenuptial agreement is more than a contingency plan should things not work out between two people; it is a planning tool that can provide a huge benefit to a marriage by eliminating many common concerns over finances. These contracts can show that you take the well-being of your spouse seriously and that you are committed to the security of your partner. The family law attorneys at the Evans & Herlihy Law Firm can make sure that your best interests are being represented so that you and your spouse can have one less thing to worry about.
Prenuptial agreements dictate what will happen to assets and properties obtained by the spouses after they are married and can also set forth terms over alimony. These agreements make things simpler should the couple decide to end their marriage, but they can be useful tools to determine many other financial aspects of a marriage. For example, prenuptial agreements can set forth terms over payment of premarital debt. They can also reflect a person’s wishes about how their property should be distributed in the event of their death, making them effective estate planning tools.
Some of the most commonly used terms you might find in a prenuptial agreement include:
- Separate property. Any assets or liabilities you bring into the marriage (not what you acquire during the marriage).
- Marital property. Typically, property acquired during a marriage is considered marital property, whether or not the property is titled in just one spouse’s name.
- Spousal support or maintenance. Also known as alimony, spousal maintenance is the term for when one spouse gives financial support to the other spouse after a divorce.
- Sunset clause. A paragraph that lays out when the prenup or post-marital agreement will no longer be valid. It can also define how much a spouse will receive based on how many years they’ve been married.
Even if you and your spouse did not draft prenuptial agreements, you can still reap many of the same benefits of these agreements in the form of postnuptial agreements, which are drafted after a couple is married or enters a civil union.
For help in drafting your prenup or post-marital agreement, contact the experienced family law attorneys at the Evans & Herlihy Law Firm. We assist clients across Texas to help meet all their legal needs. We encourage you to reach out to our firm to schedule a free consultation to learn more about your options.