What Does a Prenup Cover?

Before You Say “I Do,” Think about Creating a Prenuptial Agreement

If you are engaged to be married and are getting ready to plan your wedding and your life with your partner, thinking about the creation of a prenuptial agreement is recommended. While prenuptial agreements are not for everyone, they can be useful and appropriate for many couples. If you have questions about prenuptial agreements and why you may need one, please call our Texas family lawyer at the office of The Powell Law Firm. In the meantime, here is a look into what is covered in a traditional prenup:

What can be Included in a Texas Prenuptial Agreement?

For most couples in Texas who are about to say “I do,” a prenuptial agreement is used to address financial issues. In fact, if you know anything about a prenuptial agreement, you probably know that they are often used to discuss how assets will be divided in the event of a divorce. More than just asset division alone, a prenuptial agreement can cover:

• How assets and debts will be divided in the event of divorce or separation or death;

• Spousal support (alimony) in the event of divorce;

• Who can make a will, trust, or other estate planning document and what these documents can include;

• Who has ownership rights in regard to life insurance policy benefits;

• How a joint or sole business is to be run, and how the business will be dealt with in the event of death or divorce;

• Who has the right to buy, sell, transfer, lease, exchange, etc. property;

• How children from a previous marriage will be provided for; and

• More.

In fact, a prenuptial agreement can address nearly any issue related to finances, property, or assets. If you have more specific questions about what you can put in your prenup, call our law firm.

What can Not Go into a Prenup?

While a myriad of financial issues can be addressed in a prenup, there are some things that legally cannot go into a prenuptial agreement. In fact, if they are included, a judge likely will not honor them at the time of divorce, death, or separation. Some examples of things that cannot go into a prenuptial agreement include:

• Provisions about child custody or child support;

• Provisions that are illegal; and

• Provisions that are unconscionable - for example, a spouse may not be able to completely forfeit their right to alimony.

Keep in mind that at the time you create your prenuptial agreement, both you and your future spouse have an obligation to disclose all assets and debts, and the right to enter the prenuptial agreement of your own accord without coercion.

Learn More About Prenuptial Agreements in Texas Today

If you have more questions about prenuptial agreements in Texas and how to create one, the family law attorney at the office of The Powell Law Firm has the answers you are looking for. To schedule a consultation with our law firm or learn more about our services, please call us directly today. You can also request an appointment by sending us a message using the intake form on our website.