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Do you wish to enter into a premarital agreement with your future spouse? In Texas, premarital agreements are pretty common and beneficial. Couples tend to get into these agreements to avoid stress later and plan for the worst-case scenario beforehand. One can never know what will happen in the future, so it is always better to be prepared before time in order to avoid getting in trouble later.
A premarital agreement is also known as a prenuptial agreement. It is a contract that is entered into by two parties who are planning to get married. Such agreements are enforced under the Uniform Pre-marital Agreement Act, which was drafted by the National Conference of Commissioners on Uniform State Law in 1983. Once this agreement is signed by both spouses, it becomes effective upon marriage. Such an agreement deals with matters related to what would happen between the couple in case of divorce or the death of one of the parties. These agreements also deal with property matters, including spousal support, etc. They are also concerned with issues related to the estate, such as the making of a will or the purchase of a life insurance policy. Premarital agreements deal with almost all the matters pertaining to spouses; however, it does not include child custody or child support issues.
Property Division with and Without a Premarital Agreement in Texas
Unlike other states, Texas uses a community property system, according to which both spouses have joint ownership of all property that is acquired during their marriage. Thus, in case of a divorce, all the acquired assets get divided between the spouses. Contrary to this, the premarital agreement can make some specifications to the acquired assets so that they don’t get divided between the spouses if a divorce takes place between them. A partition agreement can be entered upon if the parties want to convert their community property into a separate property if the premarital agreement does not meet their requirements.
What makes a premarital agreement valid in Texas? There are certain characteristics that make a premarital agreement valid. Make sure to meet the following criteria to ensure that your premarital agreement is valid and enforceable in Texas.
You can get in contact with our premarital attorneys in Dallas, Texas, to discuss your premarital agreement and get the best possible advice and legal representation.
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