Prenuptial Agreements

For couples about to get married, agreeing on strong prenuptial agreements can seem like an emotional landmine. Some partners may consider the discussion of a prenuptial to be a sign of distrust, but arranging for a prenuptial agreement may be the first time some couples seriously discuss finances and budgeting, and the focus of a prenuptial may just be to document each party’s assets before the marriage. Prenuptial agreements can provide excellent insight into the financial compatibility of the parties involved. It’s also important that both partners have some control over what happens to joint and individual assets if the marriage should dissolve, which is essentially what prenuptial agreements do – allow both parties to make such decisions without the stress and emotion experienced during a divorce.

A “partition agreement” may be a part of prenuptial agreements. These outline how community property may be divided at the dissolution of a marriage, including the creation of two separate estates. It’s a common misconception that Texas law requires a 50/50 split of assets in the event of a divorce, but this is not true. If there is no binding prenuptial agreement, a court can decide on any split that is fair and just, which may vary depending on the factors of a given situation.

It’s a good idea to discuss the particulars of a prenuptial agreement with your partner before you both meet with your attorney. This will help to clarify where each of you stands on financial issues and make communicating with your lawyer much easier. Your attorney will take steps to ensure that your prenuptial agreement is binding. A binding prenuptial agreement must be in writing and be voluntarily signed in front of a notary, and all facts that relate to the marriage must be disclosed. Prenuptial agreements can be a vital part of a secure marriage, and if it ever comes to it, they provide less stress during a divorce.