Prenuptial & Postnuptial Agreements
Protect the Assets You Bring to a Marriage
Prenuptial and postnuptial agreements are important tools for people with a high net worth as well as people with more modest assets. They are useful for anyone who wants to set aside certain assets for children or protect assets in the event of divorce or the death of a spouse.
To ensure that the agreement ultimately meets your needs, however, you must consider the tax implications. They attorneys at Bennett Weston have decades of experience in tax law and can structure your pre- or postnuptial agreement so that your tax liability does not negatively affect the provisions in the agreement. If you are considering a pre- or postnuptial agreement, contact Bennett Weston for more information.
We Draft, Review and Negotiate Marital Agreements
A prenuptial agreement is a legal contract detailing the assets and debts each party has before entering the marriage. It establishes the property rights of each spouse should the marriage end in divorce or if one spouse dies before the other. Your will and estate plan should be consistent with the prenuptial agreement.
Because Texas is a community property state, you may choose to draft a prenuptial agreement that keeps your property from becoming community property. You may also state that your salary and income from separate property will not become community property.
Postnuptial agreements can be created after the marriage has been entered into. Many couples use post-nuptial agreements for estate planning purposes, protecting assets such as a family business. When people enter a second or third marriage, it is especially important to create a postnuptial agreement to preserve assets for their children.
Sometimes when one spouse wishes to draft a postnuptial agreement, he or she encounters resistance from the other. In these situations, your attorney needs to have good negotiating skills to help you resolve the issue successfully. We recommend that each party has his or her own attorney during the process.
A postnuptial agreement can also be used like a pre-divorce settlement for couples who are planning to divorce and can agree on most issues, including property division.