Marital agreements are very common today. A marital agreement may protect a spouse who is entering the marriage with far fewer assets than the other spouse, can protect a spouse willing to sacrifice his or her career, and even protect a spouse's business ventures. There are two types of marital agreements:
- Premarital (prenuptial) agreements
- Post-marital (marital) agreements
Call M. J. Hill & Associates, PLLC, at 512-212-4916 to schedule a consultation.
Prior to walking down the aisle, a couple may enter into an agreement regarding the classification of their property during their marriage, the division of the property in the event of a divorce or the division of property in the event of death. The agreement must be in writing, signed by both parties and is effective upon marriage. Common provisions are:
- Waiver of homestead rights
- Income from separate property is separate
- Waiver of spousal support
- Division of property in the event of divorce
Despite the wide scope of things spouses may put in a premarital agreement, there are two things spouses absolutely cannot put in a premarital agreement. First, spouses absolutely cannot agree to limit child support obligations. Second, they cannot agree to convert separate property to community property in a premarital agreement.
A married couple may also enter into an agreement regarding their property even well after the ceremony. A post-marital agreement can contain anything contained in a premarital agreement, but may also convert separate property to community property.
Due to the couple being married, new limitations arise in what can be agreed to in a post-marital agreement. For instance, a post-marital agreement cannot include a provision that a party filing for divorce waives his or her interest in the community property. These agreements are terminated upon divorce.
M. J. Hill & Associates, PLLC, in San Marcos, Texas, is experienced in drafting and amending premarital and post-marital agreements. Hiring an experienced attorney is the safest way to protect your assets and interests if you are contemplating a premarital or post-marital agreement.
Contact A Lawyer Today
For help with a premarital or post-marital agreement matter, call 512-212-4916, or use our contact form to schedule a consultation.