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The value of prenuptial agreements in community property states

On Behalf of | Mar 4, 2022 | Prenuptial Agreements |

There is so much planning to do before a wedding. A couple getting married in Texas is often caught up in finding a wedding venue, music, making a guest list, finding an officiant and all the other things associated with getting married. But most couples don’t stop to have a talk about whether or not they should have a prenuptial agreement — called a premarital agreement in Texas. This could be to their detriment, especially since Texas is a community property state, meaning all assets and property a couple amasses during the marriage is owned equally by both spouses, while anything brought into the marriage is usually considered separate property unless it has been comingled. 

Examples of couples that might need a prenup 

When a person brings assets into a marriage that he or she does not want to turn into joint property, a prenup might be a wise idea. Some of these assets could include an inheritance, a gift, a business or income that is expected from investments. These agreements can also make sense when stepchildren will be a part of the family since a prenup can ensure stepchildren are taken care of via marital assets after the death of a parent or after a divorce. 

Prenups can also apply to other issues 

A premarital agreement can also include any arrangement regarding alimony should the couple divorce. Texas is a state that doesn’t always favor spousal support situations, but a prenup can ensure one partner is taken care of financially after a divorce. It can also include details on the use of a surname after divorce as well as other personal issues. 

Prenuptial agreements in community property states such as Texas can prove invaluable by keeping a spouse’s personal assets separate from marital assets. They can be as complicated or as uncomplicated as the couple’s unique situation. A couple must make sure, however, that these agreements are valid and legally binding, and the support and assistance from an experienced attorney can help with this, along with making sure all necessary items are ultimately included in this formal contract.