Who needs a marital agreement?
Marital agreements covering personal financial assets can be a good idea for anyone getting married in Texas. They are especially important for anyone planning to get remarried.
Without appropriate protections in place, all property owned by either party may be subject to classification as marital property. In the event of divorce or the death of a loved one. your ex-spouse and stepchildren may have an equal claim to assets and property that may have been part of your family legacy for generations.
A prenuptial agreement is is one that is made before the marriage. Postnuptial agreements are subsequent to the marriage. These marital agreements allow the individual parties to determine how their finances and property are disbursed instead of the courts.
Why have a prenuptial agreement?
- To pass your personal property to those loved ones that you wish.
- In order to avoid the conflicts that potentially result when a divorce occurs.
- To potentially protect your assets from common debts incurred during a marriage.
Are Prenuptial Agreements Airtight?
When properly executed, prenuptial agreements are very difficult to litigate in Texas courts. However, not every marital agreement will stand up to legal scrutiny if challenged. The court takes some basic factors into consideration when determining whether the contract can be upheld. Some questions to consider are:
- Did either party sign the agreement under duress?
- Did both parties know what they were signing?
- Will the agreement leave one party in dire financial condition?
- Did the separate property remain separate throughout the duration of the marriage?
Contact My Office to Learn About Marital Agreements
Before you get married or remarried, it makes sense to get the facts about how a prenuptial agreement can protect your financial interests. I will review your circumstances and give you an honest assessment of whether a marital agreement is right for you.
I’m Family Law Attorney, Rachel Li. Call me at (214) 616-3684 or contact me online to arrange a confidential consultation. Every situation is unique, so I’ll evaluate your situation and provide you an honest, evaluation of your circumstances.