Prenuptial Agreements Attorneys
With the divorce rate being so high, more and more people getting married are asking questions such as, “what happens to my property or my business in the event of divorce?” Further, they may ask a question such as “will my income belong to me or belong to my spouse and me?” Under Texas family law all income earned during a marriage and all property accrued during the marriage is presumed to be community property and subject to division in divorce court. Therefore, it may be prudent to enter into a premarital agreement with your future spouse to predetermine the characterization of property and income. This predetermination may serve a party well in protecting their separate property assets and future income from division in a divorce case or the death of a spouse. There are other issues which may be addressed in premarital agreements including, but not limited to, spousal maintenance or the waiver of same, temporary use of property, inheritance rights, business interests, the establishment or waiver of claims that may be asserted at the time of divorce or death, and homestead rights.
Post-marital agreements are binding agreements between spouses that involve the parties’ marital property. Spouses in a post-marital agreement or partition agreement have the ability to change the character of an asset from community property to separate property or separate property to community property. Such agreements can be used by a spouse to protect and preserve assets by predetermining the character of the assets in the event of a divorce or death.