Now comes the hard question, before the festivities celebrating you and your significant other commence, ask yourself, “Do I need a prenup?” This isn’t a question of loyalty, love, honesty, or planning for failure. This is a business decision that should be considered seriously by both parties. If you have considerable assets you would like to protect, a prenuptial agreement isn’t a bad idea.
The purpose of a prenuptial agreement is to govern property division when both parties can agree on the distribution of their personal and real property in the event of an unfortunate situation like death or divorce. Prenuptial agreements also have limitations as to what can and cannot be controlled. For example, a prenup cannot waive a future spouse’s benefits under a 401k, violate public policy, defraud creditors, and cannot have a harmful or adverse effect on the right of a child to support.
Remember, a prenuptial agreement can be made to protect bot parties and their interests in the matrimonial regime which is formed during the course of the marriage. If you do consider a prenup, it is imperative that you consult with an attorney to be sure your prenup complies with the Texas Family Code, or else it may be deemed voidable.
Failure to plan is planning to fail. Planning to tie the knot? Give us a call! (832) 305-7694.