Late last month we used the news of a celebrity couple’s divorce as a springboard into a discussion of property division under Texas law. The important takeaway from that discussion was that a couple’s assets not covered by a prenuptial agreement are subject to our state’s community property laws.
Now, many Dallas residents will read this and — we hope — give serious thought to whether a prenuptial agreement is something that might be worth having in place. However, is it something every couple should automatically sign up for? We should be clear on this point: there are pros and cons to prenuptial agreements. A prenuptial agreement is not a one-size-fits-all proposition, and for some, it may simply not be the right fit, at least not at this time.
For one thing, having the discussion about a prenuptial agreement may just not feel right, no matter the legal benefits and protections it can offer. It might not something that you and your future spouse can discuss without the risk of hurting each other’s feelings or jeopardizing the romance in your relationship. And a prenuptial agreement cannot cover child custody or child support, which couples entering a marriage with children from a previous marriage are likely to regard as major concerns.
Particularly for young couples early in their lives together, you may not know what kinds of conditions you’d need to include or what assets to cover. You may not even have any significant assets you want to protect. Here, a postnuptial agreement may be something to look at further down the road, when you have a better understanding of your situations and your relationship.
We’ll take a closer look at the benefits of pre- and postnuptial agreements next week. We present the information as general in nature only, not as specific legal advice.
