Protecting Your Family's Future
 

What Should You Include in a Prenuptial Agreement?

Important Components of a Prenuptial Agreement

What Should You Include in a Prenuptial Agreement?If you are considering marriage and have amassed a significant estate, or you have children from a prior marriage, the preparation and execution of a valid prenuptial agreement can remove concerns about your financial protection and allow you to focus your energy on your relationship. Here are the key components of an effective prenuptial agreement.

Property Concerns

One of the most important components of a prenuptial agreement is the distribution of property in the event of a separation or divorce. The first thing you want to include in a prenuptial agreement is an accurate accounting of all property being brought into the marriage. Typically, the parties to a prenuptial agreement identify such property and simply state that, in the event of separation or divorce, all property owned individually before the marriage is considered separate property and will be returned in full to the party who owned it before the marriage.

There may be assets that have been partially paid for before the marriage—a house or car. There may also be assets that were owned before the marriage, but have substantially appreciated in value during the marriage—investments, real estate, or retirement accounts. The prenuptial agreement should clearly identify how such property will be divided. This is especially important in Texas, where community property laws generally hold that all property obtained during a marriage is community property and to be divided equally upon separation or divorce.

Debts Incurred

An effective prenuptial agreement will also establish who has responsibility for any debts incurred during the marriage. Typically, if there are secured debts, the party who receives the property also takes on the debt. Parties can also agree to have separate bank accounts, credit cards and financing arrangements for personal property.

Waiver of Alimony

It is not uncommon for a prenuptial agreement to include a provision that the parties agree that there will be no obligation to pay alimony in the event of separation or divorce.

Contact Stewart Law, PLLC

At the office of Linda Stewart Law, PLLC, in Baytown, we bring more than 10 years of experience to clients in south Texas.

To learn how we can help, call our office at 281-420-8020 or contact us online. We offer an initial consultation at a reduced fee of $50. We accept credit cards and will set up a payment plan, if appropriate. Our offices are open Monday through Thursday, from 9 a.m. until 5 p.m., and until noon on Fridays. Evening and weekend appointments can be arranged upon request.

Se Habla Espanol | ASL and ESL Services Also Available

 
Left Menu Icon
Stewart Law PLLC