A family law attorney in the Woodlands often counsels engaged couples to consider creating a premarital agreement, sometimes called prenuptial agreements. No one ever anticipates getting divorced; a prenuptial agreements is simply an agreement that contractually determines how property is distributed if there is a split. As your family attorney will explain, having a plan in place will make sure that there are fewer issues, or disputes, later on. Continue reading to find out how hiring a lawyer to draft your premarital agreement will ensure legal validity, equitable distribution of property—and even encourage financial stability throughout the marriage.
Encouraging Financial Stability
In Texas family law, having your lawyer draw up a prenuptial agreement can encourage financial stability during a marriage. For example, if one spouse has a great deal of debt but not a lot of income, then a prenuptial agreement can arrange your affairs to keep the debt-free spouse’s income completely separate. In this way, creditors of the indebted spouse cannot touch the property or income of the debt-free spouse.
Dividing Property Equitably
The Texas Family Code authorizes prenuptial agreements to divide property upon divorce or the death of one spouse and can function to require, or exclude, spousal support or alimony. A lawyer can draft an agreement so that property is limited upon divorce whenever a specific contingency is not met. For example, a prenuptial agreement might require one spouse to pay a certain amount in contractual alimony to the other spouse if that spouse files for divorce without attending a certain amount of marriage counseling.
Ensuring Legal Validity
When you have a lawyer who practices family law draw up your prenuptial agreement, you can be confident that it is a legally binding contract. To be a valid premarital agreement in Texas, the document must be in writing and signed by both parties. As your family lawyer will explain, both spouses must also disclose all assets and liabilities before signing the agreement.
To speak directly to a family law attorney in Spring, TX, contact Andrew J. Bolton, Esq. Our family law firm handles all issues pertaining to family law and wills, including estate planning. If you are considering drafting a prenuptial agreement or even weighing your options for legal separation, call us at (936) 435-1908 to speak to an attorney.