Marital Property Agreements Clarify Property Rights Before Conflicts Arise
Getting married is an exciting time for anyone, yet it can also be incredibly stressful. Marriage is a massive commitment, and it requires a leap of faith for both parties. Marital property agreements, whether prenuptial (created before the wedding) or postnuptial (created during the marriage), can be one of your most valuable tools in avoiding a protracted and costly divorce if the marriage ends.
Such agreements can identify and clarify the intended marital property rights of the parties before conflicts arise during the marriage or after death. This can be useful if one party has significantly more assets than another, either party has children from a prior relationship or one spouse plans to give up their career to raise children.
The attorneys at Moffett Law Firm can advise you about the protections and requirements of such an agreement and can represent you in the negotiation and drafting of any such agreement. Make sure your marital agreement is enforceable by working with an experienced attorney at Moffett Law Firm.
Requirements For A Prenuptial Or Postnuptial Agreement
Your prenuptial agreement can address many matters, such as which property is community property versus separate property, or determine how income will be characterized during marriage. In order to be valid under Texas law, a prenup must meet four basic requirements:
- It must be in writing.
- Both parties must sign voluntarily.
- The couple must provide a fair and reasonable disclosure of their assets and liabilities to each other before signing. Any failure to fully disclose may invalidate the prenup later.
- The parties must waive their right to further disclosure beyond that provide.
One way to ensure that your prenup will be upheld in court is for both of you to have your own legal adviser review and negotiate the document before signing. Postnuptial agreements are similar to prenuptial agreements, but they are not interchangeable. Postnuptial agreements must consider the fact that some of the couple’s property has already become marital property and must contain revisions addressing such property appropriately.
Contact Us Today
Contact our Houston office to discuss how we can help you create a prenuptial or postnuptial agreement that best fits your needs. Please call 713-987-4250 or contact us online to arrange your confidential consultation.