Premarital Agreements in Llano County: What You Should Know

 Posted on December 10, 2021 in Family Law

Prenuptial agreements or premarital agreements are often misunderstood. Some people think that these useful legal contracts are only needed for extremely wealthy couples. Others assume that only those with little faith in their relationship’s long-term sustainability would sign a prenup. In reality, prenuptial agreements can benefit couples of all income levels and lifestyles. Furthermore, signing a prenuptial agreement does not mean that a spouse plans to eventually divorce. Couples with strong, healthy relationships frequently use premarital agreements to define property rights and financial expectations during the marriage.

Legal Protections Offered by Prenuptial Agreements

Many people are initially hesitant to even consider signing a prenuptial agreement because the contract largely deals with divorce concerns like property division and spousal support. However, it is important to realize that even the best marriages sometimes end. Even if a couple never divorces, premarital agreements can address property rights upon a spouse’s death.

Premarital agreements can be customized to meet the spouses’ specific needs. Often, premarital agreements are used to:

• Categorize assets as either marital assets belonging to both spouses or non-marital assets belonging to only one spouse

• Establish the spouses’ rights to transfer, sell, or use assets

• Describe how property should be distributed if a spouse passes away or the couple divorces

• Describe how the spouses will use joint bank accounts

• Identify who is responsible for paying certain expenses during the marriage

• Describe the parties’ spousal support rights and obligations

• Describe how death benefits from a life insurance party should be distributed

Texas Laws Regarding Marital Agreements

Premarital agreements may cover a range of financial issues. However, premarital agreements may not involve any provisions that are illegal or violate public policy. The agreements may not limit a child’s access or right to child support.

For premarital agreements to be valid, both spouses must fully and accurately disclose information about their financial obligations. Alternatively, spouses may waive the right to be informed of the other party’s financial obligations in writing.

Contact a Llano County Prenuptial Agreement Lawyer

Premarital agreements or prenuptial agreements are legal contracts that define spouses’ financial rights and obligations. If you would like to learn more about the benefits of signing a prenup before getting married, contact the Law Office of Russ Alan Baker, LLC.  Llano family law attorney Russ Baker has represented clients during complex legal matters for over 15 years. He can help you explore your options and create a premarital agreement that meets your unique needs. Call our office today at 325-216-2006 for a free, confidential initial consultation.

Source:

https://statutes.capitol.texas.gov/Docs/FA/htm/FA.4.htm