A Texas prenuptial agreement is a preemptive legal arrangement couples make before they get married to delineate how they will manage their assets, property, and debt if they divorce. It also helps the surviving partner have a more definitive financial future if their spouse passes away while married.
The agreement may address issues such as the division of property acquired before and during the marriage, the disposition of property after the death of one spouse, issues of spousal support, insurance beneficiaries, and the state whose laws will govern the agreement.
Laws:
Signing Requirements: Each spouse needs to sign the agreement (§ 4.002).
Both parties must sign the agreement voluntarily. Neither party should subject the other to intimidation or distress to procure a signature. Additionally, no party should commit fraud or deceit to convince the other to sign.
Each party should disclose their financial situation in its entirety. They should communicate their assets and debts in language the other party can understand and confirm the other party comprehends the information they relay.
Texas abides by community property law, meaning that all assets either party acquires during marriage become the property of both parties. You can state otherwise in a prenup, so it’s crucial to make the desired distinctions.
Both spouses can modify or eliminate spousal support in a prenup through discussion. However, a court may deem the document invalid if one spouse won’t be able to meet their financial needs without temporary support from their former partner.
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