Texas Prenuptial Agreements And Asset Protection

Prenuptial Agreement Lawyer

People planning to get married may have heard of prenuptial agreements and may think “That isn’t for us. Aren’t prenups only for people with millions in cash and real estate?”

The short answer to that question is: “No.” A prenuptial agreement can be useful for planning your future finances with your future spouse, regardless of your net worth.

Learn about prenups and asset protection below. Then, if you have questions, talk to the Dallas prenuptial agreement lawyers at Orsinger, Nelson, Downing, & Anderson today!

What is in a Texas Prenuptial Agreement?

A prenuptial or premarital agreement in Texas is a legal contract between two future spouses, entered into before marriage. That agreement defines how debts and assets will be treated and divided both during the union and if there is a future divorce of the parties. The Texas Uniform Premarital Agreement Act states that a valid agreement may contain:

  • The rights of the spouses to use and transfer property
  • The rights and obligations of spouses regarding the property they purchase
    How property will be divided and disposed of if there is a divorce or death.

The prenup may also address these issues:

  • Which party is financially responsible for various expenses
  • Creating and using joint bank accounts
  • How to resolve future marital differences, such as marital counseling
  • What will happen with the parties’ property division if there is a future divorce.

Who Should Have A Prenuptial Agreement?

While many think prenuptial agreements are only for people with a high net worth and many assets, that is not correct. Individuals who have worked for years to become successful, those who own a portion of a family business, those coming into a marriage with a large estate, or those who have complicated lower net worth estates, and more could benefit from a prenuptial agreement.

It is important for any couple entering into a prenuptial agreement to talk honestly about their estates, what they want from the agreement, and what are their expectations for this agreement. Then, with the help of an experienced Texas prenuptial agreement lawyer, an agreement can be prepared that works for both parties.

Ensuring A Prenup Is Enforceable In Texas

For your prenup to be enforceable in Texas, it cannot violate the law or public policy. For example, if you have or plan to have children with your future spouse, the prenuptial agreement cannot interfere with the support needed to care for them. If a provision of the prenup affects child support, it is likely to be deemed unenforceable as against public policy. There are certainly other examples, but talking to a Dallas prenup lawyer ensures you are reaching agreements that will be legally enforceable in Texas.

Establishing Character of Property

Generally, Texas has a community property system that creates jointly owned property during a marriage regardless of which spouse acquires the property. This means that, during a divorce, all property accrued during the marriage is divisible in accordance with the Texas Family Code. However, Texas laws allow couples to set up their own rules for dividing property in a potential divorce. This gives you more control over your financial future than if the regular community property rules were used.

Contact Dallas Prenup Lawyers Today

If you are getting married, it is a good idea to consider establishing some marital rules through a prenuptial agreement. This contract can save you a lot of stress—and more heartache—if there is a divorce or death later.

The Dallas prenuptial agreement lawyers Orsinger, Nelson, Downing & Anderson can assist you with your prenup to protect your assets. Our attorneys serve the cities of Dallas, Frisco, and San Antonio. Please contact our Dallas prenuptial agreement lawyers at (214) 273-2400.