Houston Prenuptial Agreement Attorneys

What a Prenup Can Do

Texas prenuptial and premarital agreements don't only offer a way to protect your assets in the event of a divorce in Houston, they also offer a way to agree on how to split assets before marriage. 

In addition to addressing money assets in a marriage or divorce, a prenuptial agreement can also cover things such as:

• Who has the right to do what with certain property
• How joint bank accounts will be created and used
• What happens to the property if one spouse dies
• How life insurance benefits are allocated
• How alimony/ spousal maintenance would be handled in the event of divorce
• How future disputes can be resolved, such as mediation and arbitration
• Payment of attorney's fees and spousal support upon divorce
• Estate planning decisions

Property Division With & Without a Prenuptial Agreement

Texas is one of a few states that use a community property system. Generally speaking, the system assumes that both spouses have common ownership of all property acquired during a marriage. Therefore, if the couple divorces, all acquired assets (with certain exceptions) are divisible between the parties.

In contrast, a prenuptial agreement can make specifications so that certain acquired assets cannot be divided following a divorce. For example, if one spouse runs their own business, the premarital agreement may stipulate the business' earnings will go to that spouse as separate property. A similar provision may apply to one spouse's stocks before the marriage, or other assets that could generate earnings throughout the marriage.

Parties can also use a partition agreement to convert a married couple's community property into separate property if a prenup doesn't meet their needs.

Cohabitation Agreement Attorneys in Texas

It is increasingly common for some couples to prefer cohabitation without marriage. Texas is a state which permits common law marriage. Proof of a common law marriage would require that a couple 1) agree to be married, 2) cohabitate, and 3) hold themselves out to the public as though they are married. Therefore, couples who decide to cohabitate without marriage sometimes want to enter into agreements that acknowledge and confirm that they do not intend to be married to one another (and thus are not married under the common law rules in Texas under that first requirement that they must agree to be married).

Further, such an agreement may govern the financial aspects of the couple’s relationship, including their respective assets. These agreements are referred to as cohabitation agreements and they may govern the assets and financial dealings of the couple in ways similar, though not identical to, the way premarital agreements or prenups govern the assets of couples who marry.

Cohabitation agreements are not governed by the Texas Family Code, which governs only the property agreements of future spouses or those who are already married. Cohabitation agreements in Texas are construed and governed by the laws that govern all contracts in Texas, and may be binding on the parties so long as they meet the requirements for contracts in Texas. Cohabitation agreements may be appropriate for any couple who live together, including same-sex couples who choose not to marry.

Already Married? Consider a Postnuptial Agreement 

While prenuptial agreements are a valuable tool for couples planning their future before marriage, postnuptial agreements serve a similar purpose for those who are already married. At our Houston law firm, we understand that circumstances can change. A postnuptial agreement can provide additional security and clarity for married couples.

A postnuptial agreement is a legally binding contract created after a couple is already married. This agreement outlines the division of assets, property, and responsibilities in the event of a separation, divorce, or death. It can address similar issues as a prenuptial agreement, but is tailored to the couple's current situation and future expectations.

Like prenups, postnuptial agreements can be particularly beneficial in various situations:

• If there has been a significant change in one or both spouses' financial status, such as receiving a large inheritance or starting a new business, a postnuptial agreement can help manage these new assets and responsibilities.
• Ensuring that children from previous relationships or specific family members are provided for can be a reason to establish a postnuptial agreement. This can clearly outline how inheritance and family heirlooms will be handled.
• For couples experiencing marital difficulties but wanting to avoid divorce, a postnuptial agreement can provide a framework for resolving conflicts and setting clear expectations, potentially strengthening the marriage.
• If one spouse accumulates significant debt during the marriage, a postnuptial agreement can protect the other spouse from being responsible for this debt in the event of a divorce.

Whether you are engaged or are already married, our Houston prenuptial agreement attorneys stand ready to assist you with a marital agreement that makes sense based on your current situation and future goals.

What a Prenuptial Agreement Can't Do

There are certain items prenuptial agreements cannot include. These items are unenforceable by law, and attempting to retain them may risk nullifying the agreement, in part or whole.

For example, a prenuptial agreement cannot include provisions that involve illegal activity. For instance, a provision that aims to allow bigamy by one of the spouses will be invalid.

Additionally, a prenup does not have the power to determine future child custody or child support. In terms of custody, in the event of a divorce, the power to decide child custody lies exclusively with the parties by agreement at the time of divorce, or by the family court if the parties are unable to reach an agreement.

Our Houston prenuptial agreement attorneys can help you craft the ideal prenuptial, partition, or contractual cohabitation agreement for your relationship.

To schedule a consultation with our team, contact us online or via phone at (713) 766-5355.