Houston Prenuptial Agreement Lawyer

Parties with substantial assets often enter into prenuptial or postnuptial agreements to structure and manage their assets. Such agreements are useful to confirm understandings and expectations between the parties relating to their assets and for estate planning and asset-protection purposes.

When is a Prenuptial Agreement Beneficial?

People entering into a second marriage are much more likely to ask their spouse to sign a prenuptial or postnuptial agreement than people entering into a first marriage are. There are several reasons for this. People who have been divorced once understand the emotional and financial cost of achieving a property settlement agreement through litigation. In addition, people entering into a second marriage often execute a marital agreement to:

• protect assets brought into the marriage
• protect the property rights of children from a first marriage

Terry Hart is a divorce and property division lawyer in the Galleria area of Houston. Before he became a divorce attorney, he was a business lawyer for more than 20 years. As a result, he brings a practical and businesslike approach to prenuptial and postnuptial agreements and believes they are useful not only in second marriages, but also in first marriages when one of the parties brings significant assets Link to high asset divorce into the marriage, such as a family business.

Given statistics that half of all marriages end in divorce, it makes sense to specify which assets each party should receive in the event of a divorce. Texas has adopted the Uniform Premarital Agreement Act and Texas law is reasonably well developed regarding premarital agreements. In order for a prenuptial agreement to be upheld in the event of divorce, compliance with Texas laws is necessary:

• both parties must fully disclose property, bank accounts and other assets being brought into the marriage
• both parties must fully disclose all liabilities
• both parties must have had ample opportunity to review the agreement with separate legal counsel

Postnuptial agreements can also be used by married couples to structure the holding of assets. Community property can be converted into separate property, and separate property can be converted into community property. Postnuptial agreements cannot be used, however, to impair the rights of existing creditors.

Contact Terry Hart to discuss your legal questions. Se habla español.