Understanding the basics of a prenuptial agreement can make a difference should the marriage ever dissolve. The Texas Family Code is specific when it comes to what a prenuptial agreement can and, more importantly, cannot do.
Defrauding creditors is one of the more popular but illegitimate uses of a prenuptial agreement. What you owe before a marriage is still expected to be paid, and you are the one expected to pay. Therefore, putting any pre-existing property in your future spouse’s name will not be a feasible way of avoiding any outstanding debts. A prenup will not protect you from creditors.
The future benefits of a spouse provided by a 401k or private pension cannot be waived. A prenuptial agreement can include a division of those benefits should a divorce occur. However, that will only be subject to enforcement should each spouse reconfirm those terms on a date after that marriage became legal.
Prenuptial agreements also have no bearing on child support payments. Prenups can be used to mandate a parent pay a higher amount of child support payments every week. Nevertheless, prenups cannot be used to determine child support.
Although it may seem a bit obvious, there can be no provision within a prenup that violates criminal law or public policy.
Every prenup requires that each spouse disclose all of their assets. Each spouse is expected to be forthright when doing so. Entry into the agreement is voluntarily, and if all assets are disclosed, it could make the agreement void.
A prenuptial agreement in the state of Texas cannot provide terms when dealing with children born into a marriage. Any decisions regarding those children will need to be made based upon the current circumstances.
Prenuptial agreements are an important step to take before getting married. There is also the option of modifying those agreements after a wedding. When looking to take any course of action before or after a marriage, it helps to have the counsel of a qualified family attorney.
Hixson Law Firm can point you in the right direction and advise you on everything you need to know about a prenuptial agreement. Serving the Arlington, Grand Prairie and Mansfield areas, our attorneys can translate the Texas Family Code and make the entire process a fast, efficient one for our clients.