Prenuptial agreements get a bad reputation, but in reality, they are a valuable legal tool for many people entering into a marriage. Should a marriage end in divorce, it can take a huge financial toll on many people, especially if they have significant wealth or assets they want to protect. In many situations, planning ahead and protecting your property and financial rights is the right step, which involves signing a prenuptial agreement.
Never sign an agreement without first consulting with a Southlake prenuptial agreements lawyer. Our attorneys at Mims Ballew Hollingsworth | Family Law are ready to draft, review, and negotiate prenuptial agreements on your behalf, so please reach out today.
Prenuptial agreements (also known as premarital agreements) can help you and your intended spouse start your life together on the right foot. These agreements can allow you and your future spouse to answer tough questions upfront about what will happen to your property after you marry and how it will be addressed in the event of a divorce. Often, the outcome is a stronger bond with these issues decided up front, leading to a happier and healthier marriage.
Prenuptial agreements are legally binding documents created between two people before their marriage. They can be as simple as confirming what property each spouse is bringing into the marriage, or they can be highly complex by eliminating any community estate from being created at all, establishing guidelines for how community property will be created, and determining financial support for a spouse in the event of divorce proceedings.
Your prenuptial agreement should be carefully tailored to your property and objective for the future, and we can assist in ensuring this happens.
Texas law allows soon-to-be spouses to enter into agreements to establish protocols for their marriage and how their respective property rights will be considered. These marital property agreements can be entered into before your marriage with a prenuptial agreement or later down the road if the need arises (then, it is called a postnuptial agreement).
Prenuptial agreements can be extremely useful in high-asset marriages, although they are not only for high-net-worth individuals. These agreements can be used to help protect a business, secure separate property such as an inheritance, or limit an intended spouse’s exposure to pre-existing debts of their partner. They can also be used to allow a spouse to share in their partner’s separate property if desired by the couple.
If you have worked hard to achieve what you have in life and would like to set some expectations for finances during your marriage, set a framework for how property will be characterized, and take away the uncertainty of what is going to happen in the event of a divorce, then you may want to consider a prenuptial agreement.
While it is possible to prepare these documents on your own without the assistance of an experienced Southlake prenuptial agreements attorney, there is a chance that it may not be binding if all necessary provisions and scenarios are not accounted for. If done incorrectly, this could be a disaster for securing your financial future.
The Southlake prenuptial agreement attorneys at Mims Ballew Hollingsworth | Family Law have the experience to protect your financial future and prepare marital property agreements that will hold up in court. Contact us today to schedule a consultation so we can assess the best options in your situation.