Pre-nuptial agreements, also called premarital agreements, have become increasingly more prevalent in the past couple of years. This is due in part to people being married at later ages, which means they have more property going into the marriage, and the rising divorce rate.
A pre-nup is a contract between two parties that are going to be married that prevents the creation of community property. Community property is property in the marital estate that is subject to the “just and right” division by the court. There is not an automatic 50/50 split in Texas. Where community property is concerned, division of the marital estate depends on the discretion of the court almost entirely.
Pre-nups keep property separate. This is a benefit because the court has no ability to divide separate property. Separate property is property that is retained by one party to the marriage. If it is kept separate, the property, income from the property, and items bought with income from separate property cannot be divided by the court.
In addition to keeping property separate, a pre-nup can address any issue a couple wishes for it to address, property-related or otherwise. This includes any issue that might arise in a divorce except for child support.
All pre-nups in Texas, as mandated by the Uniform Premarital Act, must be in writing. In addition they must be signed by both parties. Pre-nups become effective the day of the wedding and may be amended, in writing, at any point after the wedding.
If you, or someone you know, are going to be walking down the aisle in the future and have considered a pre-nup but needs more information, contact the Denton family lawyers of Alexander & Associates at 972-420-6560. Their lawyers are available to answer any questions you may have concerning pre-nups or any other premarital agreement.
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