Texas prenuptial agreements are typically associated with a stigma of being unromantic, but with a national divorce rate of over 50 percent, drawing up a prenuptial agreement before tying the knot is simply being practical. Having a prenuptial agreement in place prior to getting married will help protect each person’s assets and preclude the necessity for long drawn out legal battles and their accompanying high costs.
Essentially, a prenuptial agreement is a legal contract that stipulates what each spouse’s property rights are, should the marriage end in a divorce. Specifically, a prenuptial agreement lists all the assets and debts of each spouse before getting married. It is essential that each participant make an honest and complete disclosure at the time that the prenuptial is being drafted. If either party does not disclose the entirety of the assets and the debts that they have to their name then the agreement may be found to be not legally binding by the court.
Prenuptial agreements are a very versatile tool that can be used for a variety of reasons. For instance they can be used to ensure that assets that a person brings into a marriage also leave with that person if the marriage is ever dissolved. They can also be used to protect assets that have been earmarked for children who happen to be part of a blended family can they can be used to demarcate property rights.
Navigating the legal complexities inherent in drafting a legally binding prenuptial agreement can be confusing to many. But, staff at law offices of Mary Ann Beaty, P.C., is committed to working closely with our client to ensure that all their legal needs are met.