More couples are divorcing now more than ever before. A premarital agreement may be something you want to consider. An experienced prenup attorney can answer the most often asked question, “What is a prenup agreement?” and can help you make a decision as to whether or not you should pursue a prenuptial agreement. The average couple has as much reason to examine the prospect of a prenup as a much wealthier couple. Assets are assets, no matter how big or small, and they deserve to be protected no matter where you fall on the wealth spectrum.
Before getting married you may wonder, “What is a prenup agreement?” A prenup agreement, or premarital agreement, is a contract entered into by a couple prior to marriage that sets the terms of the financial consequences of divorce such as property division and spousal support. Most couples fear that considering a premarital agreement dooms a marriage from the beginning. This is typically not the case. Most couples find, after talking to a prenup attorney, that it actually strengthens their bond by allowing them to speak openly about what is most important to them in the marriage. It also helps to make the divorce process, if needed, much easier and less contentious.
For the most part, Texas law allows couples to create the terms they want in a premarital agreement and marital agreement and such terms will be enforcable by a court of law provided the agreement(s) are drafted correctly. There are very specific requirements for both premarital and marital agreements that must be followed if the agreement is to be valid and enforcable.
Depending upon what the spouses want the agreement to state, often both a prenuptial agreement and marital agreement is needed. When both agreements are needed, it only requires a minimal amount of additional work. The two agreements are drafted together and you and your spouse would go through both agreements together with our premarital agreement attorney before the wedding date. The spouses sign the prenuptial agreement at our office before the wedding date. Generally, when the spouses come into our office to sign the prenuptial agreement, we provide them the marital agreement with instructions regarding when and how to sign it after they get married. By doing that, the couple do not have to make another trip to our law firm to sign the second agreement, unless, of course, they would prefer to come in for an additional visit to sign the marital agreement.
While this is not intended to be a contentious process, it is in each person’s best interest to have a prenup attorney working to protect their rights in the case of a divorce. Thus, we advise that both spouses have their own attorney who will at least review the agreement(s) for one of the spouses.
If you are wondering “What is a prenup agreement” or just have any other questions only a prenuptial agreement attorney can answer, contact Baucom Family law today. Our prenup attorney is experienced and are here to help you protect your assets!