What are prenuptial agreements (prenups)?

The marriage laws in Texas require both parties involved to obtain a marriage license from a county clerk, and this license will be valid for 30 days in the state of Texas once it is issued. Before this point, when couples are contemplating marriage, the idea of a prenuptial agreement may sometimes arise. Contrary to what many people think, these agreements do not always doom a marriage to failure. Prenuptial agreements are helpful because they simplify the equal and common benefits between the two parties who are entering the marriage agreement.

Prenuptial agreements can contain a wide assortment of provisions, including the right and obligations of each party in the event that either or both of them want a divorce. Prenups also include provisions regarding the rights to buy, sell, use, transfer, exchange, lease, consume, assign, expend, mortgage, or otherwise manage or control property. These agreements can also include information regarding the disposition of property upon separation, divorce, death, or another occurrence. In the event of a divorce, a prenuptial agreement can include provisions for the modification or elimination of child or spousal support, and the distribution of rights for life insurance policies.

Benefits of a Prenuptial Agreement

Who will benefit from a prenuptial agreement? Contrary to popular belief, individuals who want an estate plan are not necessarily planning on getting divorced in the future. In fact, anyone who has a previous written will or estate plan may want to consider a prenuptial agreement because a marriage contract in Texas will render any will or previously written estate plan unenforceable by law. Prenuptial plans can help to ensure that your will or estate plan will remain enforceable. Also, people who are entering their second or third marriage may want to sign a prenuptial agreement to ensure that their assets and properties are equally divided between their previous spouse and family and their new family.

Additionally, anyone who owns their own shares, stocks or the entire proprietorship of a business or several businesses will benefit from a prenuptial agreement. Once you get married, your spouse is automatically entitled to ownership of your assets and properties, and a prenuptial agreement is required. If you own a home and invested a significant amount of your personal assets to do so, you must also take into consideration that your home will be mutual property once you get married.

Here at Menduni Martindill, PLLC, we have extensive experience handling all types of divorce cases and we have seen the benefits of forming prenuptial agreements firsthand. Our Austin divorce attorneys can help you handle the sensitive nature of prenuptial agreements and will assist you throughout the process of creating the best type of agreement for your situation.

Key Points for Your Prenuptial Agreement

In Texas, you must have the following requirements according to the law in order for a prenuptial agreement to be considered valid and enforceable.

  1. Formal agreement. In order for an agreement to be valid under the law, it must be in writing and signed by both parties in the presence of several witnesses. Keep in mind that oral prenuptial agreements are not admissible or enforceable in any court in Texas.
  2. Both parties involved in the prenuptial agreement must declare all of their assets and liabilities.
  3. Both parties should each have their lawyers there to represent them even if there is no existing dispute between them.
  4. Both parties must agree to enter the prenuptial agreement on their own free will.

It is critically important that you understand your rights and the terms of your prenuptial agreement fully before you agree to a prenuptial agreement. It is our mission at Menduni Martindill, PLLC to provide you with the highest quality of legal counsel and representation during this important process. Our Austin family attorneys are ready to help you today, so call and schedule your case evaluation now!