Prenuptial agreements are becoming increasingly popular as couples look for ways to protect their assets and plan for their future. A prenuptial agreement can help you:
- Define your separate property and how it will be treated in the event of a divorce
- Protect your assets, such as a family business or inherited property
- Establish expectations for financial responsibilities during the marriage
- Avoid lengthy and expensive divorce proceedings
Requirements for a Valid Prenuptial Agreement in Texas
In Texas, prenuptial agreements are governed by the Texas Family Code. To be valid, a prenuptial agreement must meet the following requirements:
- Voluntary agreement: Both parties must enter into the agreement voluntarily and without coercion, duress, or undue influence.
- Writing: The agreement must be in writing and signed by both parties.
- Full disclosure: Both parties must make a full and complete disclosure of their assets, liabilities, and income to each other before signing the agreement.
- Independent counsel: Both parties must have the opportunity to consult with independent legal counsel before signing the agreement.
- Time of execution: The agreement must be executed before the marriage takes place.
- Proper execution: The agreement must be executed in accordance with the formalities required for the execution of contracts in Texas.
- Fair and reasonable terms: The terms of the agreement must be fair and reasonable at the time the agreement is executed and when the agreement is to become effective.
What Prenuptial Agreements Cannot Address
It’s important to note that prenuptial agreements can only address certain topics, such as the division of property and spousal support in the event of a divorce. They cannot address issues related to child custody, child support, or public policy matters. Additionally, any provisions that are illegal or against public policy will not be enforced by the courts.
If you’re considering a prenuptial agreement in Texas, it’s important to understand the requirements for a valid agreement and to work with an experienced family lawyer to ensure that your agreement meets these requirements. If you have any questions or would like to discuss your options for a prenuptial agreement, please don’t hesitate to contact The Blacknall Firm.