Pre-Nuptial & Post Nuptial Agreements
Pre-Nuptial Agreement Attorney
Because Texas is a community property state, pre-nuptial and post nuptial agreements can be invaluable for clarifying property ownership and avoiding marital disputes over assets and debts.
Pre-nuptial Agreements
A pre-nuptial agreement provides a couple planning to marry with the advantage of managing financial considerations beforehand that are crucial to the success of their marriage. Misunderstandings or problems likely to develop based on finances, assets from previous marriages or differences in debt and wealth can be dealt with on a practical basis through an agreement both parties will honor. Should either party die, or should the couple decide to divorce, a prenuptial agreement may avoid expensive litigation over property division.
A pre-nuptial agreement can also protect a family’s property in the event of a lawsuit brought against a spouse’s business, such as a malpractice claim.
Pre-marital Agreement Issues Not Upheld
The courts do not recognize or uphold child support or child custody decisions in prenuptial agreements and reserve the right to rule on what they consider best for the children.
A pre-nuptial agreement can, however, protect an inheritance to a child from a previous marriage and can also provide guidelines for career and lifestyle agreements as well as locations of residence.
Legal Validity of Pre-nuptial Agreements
From a legal standpoint, pre-nuptial agreements take precedence over state laws governing marital property along with divorce and probate proceedings, which address the assets of an estate. Pre-nuptial agreements are recognized and upheld by all 50 states along with the District of Columbia.
Post nuptial Agreements
Post nuptial agreements are similar in purpose to pre-nuptial agreements in that they are contracts that couples voluntarily enter into after marriage to determine property ownership issues. Whether resolving marital conflicts that arise over assets, debts, finances and other responsibilities, or focusing on changes as a result of inheritances, career shifts, business sales or investment fluctuations, a post nuptial agreement can establish guidelines for a couple. A post nuptial agreement may even restore balance to a martial relationship that is undergoing stress.
Elderly couples can use post nuptial agreements as an estate planning tool to divide assets in order to minimize estate tax exposure.
Because marital relationships and financial situations vary greatly, it is wise to seek the assistance of a skilled family law attorney. You need an experienced lawyer to draft a pre-nuptial or post nuptial agreement that is uniquely tailored to your situation.
The Ft. Worth Law Office of V. Wayne Ward, in Tarrant County, provides exceptional legal advice and guidance in matters involving pre and post nuptial agreements. Please call (817) 332-1172 to arrange a confidential consultation.