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January 2015 Archives

Giada De Laurentiis may lose assets without prenuptial agreement

Texas is a community property state in which assets accumulated by spouses during marriage are regarded as the property of both spouses. The only assets that will not be divided between the spouses are those brought into the marriage by a spouse, along with inheritances and gifts that remained separate and were never commingled during the marriage. However, by drawing up a prenuptial agreement, couples may specify the manner in which their property will be divided if they decide to get divorced in the future.

Prenuptial agreement may help avoid disputes in property division

Whenever a Texas couple gets married, the future is a mystery. While many people may focus on their dreams, reality is often far removed. Modern young couples often bring significant assets into a marriage, but even if they don't, they may build up a successful business or receive an inheritance worth a noteworthy amount of dollars during their marriage. Peace of mind may be obtained by a well-drawn-up prenuptial agreement. Texas is a community state property, and if one spouse dies, or the couple decides to get divorced, the court will decide on the property division if there is no valid prenuptial agreement in place.

Prenuptial agreement to address issues related to step-families

When Texas couples consider marriage that involves two existing families, they may have many unique issues that need to be addressed prior to getting married. Research into social trends shows that 40 percent of adults in the United States have a step-relative -- whether that be a parent, sibling or child. It found that although many combined families get along amicably, biological kin is believed to create a stronger feeling of responsibility in most adults. In order to protect the interests of both families, a well-drafted prenuptial agreement may be appropriate.

Chris Rock's prenuptial agreement is no longer valid

Many couples in Texas understand the need for a prenuptial agreement, along with the importance of competent legal advice when such an agreement is drafted. However, how many people remember to review their prenuptial agreement every few years? Revisiting one's prenuptial agreement will remind one of the contents and any stipulations that have to be followed. While prenuptial agreements don't commonly expire, there may be a sunset clause that may render it invalid after a particular date.

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Warmbrodt, Winslow & Associates.
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Allen, TX 75013
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