No one who enters into marriage plans on it ending in divorce, but divorce is a fact of life for some married spouses. Divorce happens, which is why considering entering into a prenuptial agreement can be a good idea. Implementing a prenup is not a symbol of your lack of faith in your marriage – far from it. A prenuptial agreement, instead, is a legal contract that will guide the division of your marital property if your marriage does end in divorce. In fact, many people find that such contracts can help both parties understand exactly how difficult a divorce would be and can discourage such actions. If you are considering a prenup or are facing a divorce involving a prenup, consult with a Cedar Park divorce attorney today.
A Texas prenuptial agreement is a legal contract that you draw up and sign before you marry, and that goes into effect as soon as you are married. In it, you will layout how your property will be divided in the event of a divorce. For example, if one of you enters into the marriage owning a business, you may want to protect yourself from losing said business in a divorce. In fact, there are myriad financial reasons to consider having a prenuptial agreement. Sometimes, prenups also address the issue of alimony.
In a Texas divorce, marital property is divided in a manner that the court deems just and right, which is often different than an equal division. Marital property is the property that you acquire together as a married couple. Your prenuptial agreement will likely focus primarily on how your separate property – the property you bring into the marriage separately – will be divided if your marriage does end in divorce. In other words, your prenuptial agreement is a legal mechanism for protecting the wealth you bring into the marriage.
A prenuptial agreement focuses primarily on financial specifics, and there are restrictions related to what it can and can’t address. Some of these restrictions include:
Prenuptial agreements are becoming more and more common, and a prenup can be an extremely useful legal tool that is worth considering if you are preparing to marry. The dedicated divorce attorneys at The Jackson Law Firm in Cedar Park, Texas, are committed to helping you find your best legal path forward – whether you are considering a prenuptial agreement or are facing a divorce involving a prenup. To schedule a free initial consultation, please do not hesitate to contact us online or call us at (512) 528-1900 today.