Facts about prenuptial agreements

On Behalf of | Oct 18, 2018 | Property Division

When couples in Texas sign a prenuptial agreement, they must each have had their own attorney, the agreement must be fair and both people must have disclosed their assets. Fairness can be a somewhat subjective measure. As an example, if there is a big wealth disparity between two people, it might be unfair if they are married for a long time and the person with less money gets nothing in a divorce. A prenup could be thrown out if it does not meet these requirements.

A prenup also should not have the appearance of having been rushed into. If it is signed just before the wedding, it could be argued that one person was coerced into agreeing to its terms. Creating a prenup is something that should be done with a lot of thought well in advance.

A prenup may include a provision that neither person will seek alimony from the other. It might also say that any assets a person brings into the marriage remain the property of that person and that any assets acquired by either person during the marriage remain the individual’s property.

If there is no prenuptial agreement or if there is one and it is successfully challenged, the couple will then need to decide how to divide property or go to court where a judge will decide. In Texas, all the property either person has acquired since the marriage is considered property that each person owns 50/50. There may be a handful of exceptions, such as an inheritance that a person does not commingle with other marital assets. However, it is not necessary to divide all the property 50/50, and in many cases it is impractical or impossible to do so. Couples might agree that each of them will take certain assets of roughly equal value.