When planning to get married, a premarital agreement can be an essential tool for protecting your assets and planning for your future. However, creating a valid premarital agreement in Texas can be a complex process that requires careful consideration of legal requirements and potential issues. Here are the key steps to follow when creating a premarital agreement in Texas:
Discuss Your Goals and Concerns
The first step in creating a premarital agreement is to discuss your goals and concerns with your partner. What assets do you want to protect? What are your expectations for property division and spousal support in the event of a divorce? By having an open and honest conversation, you can ensure that you both have a clear understanding of each other’s expectations and can work together to create an agreement that meets your needs.
Draft the Agreement
Once you have a clear understanding of your goals and concerns, the next step is to draft the agreement. This should be done with the assistance of an experienced family law attorney who can help you ensure that the agreement complies with all legal requirements and addresses all relevant issues. In general, a premarital agreement in Texas should include:
- A statement that the agreement is being entered into voluntarily
- A full disclosure of each party’s assets and liabilities
- A description of how property will be divided in the event of a divorce or death
- A waiver of spousal support
- Any other provisions that you and your partner agree to include
Review and Revise the Agreement
After the agreement has been drafted, it is essential to review and revise it carefully. You and your partner should both have an opportunity to review the agreement and ask any questions or raise any concerns. If necessary, revisions should be made until both parties are satisfied with the terms of the agreement.
Execute the Agreement
Finally, the premarital agreement must be executed in accordance with Texas law. [Texas Fam. Code Chapter 4]. This typically involves signing the agreement in the presence of two witnesses and having it notarized. It is important to ensure that all legal formalities are followed to ensure that the agreement is valid and enforceable.
Creating a premarital agreement in Texas can be a valuable tool for protecting your assets and planning for your future. By following the steps outlined above, you can ensure that your premarital agreement is valid and enforceable and that it meets your needs and goals.
To discuss retaining our firm for your premarital agreement, divorce or child custody case, please schedule a consultation with us today.