A prenuptial agreement ("prenup" for short) is a written contract created by two people before they are married. Prenuptial Agreements typically list all of the property each person owns (as well as any debts) and specifies what each person's property rights will be after the marriage.
While prenups are often used to protect the assets of a wealthy fiance, couples of more modest means are increasingly turning to them for their own purposes. Here are some reasons that some people want a prenuptial agreement:
- Pass separate property to children from prior marriages
- Clarify financial rights
- Avoid arguments in case of divorce
- Get protection from debts
If you don't make a prenuptial agreement, your state's laws determine who owns the property that you acquire during your marriage, as well as what happens to that property at divorce or death. (Property acquired during your marriage is known as either marital or community property, depending on your state.) State law may even have a say in what happens to some of the property you owned before you were married.
Daniel | Williams stays up-to-date on the changes in the case law and apply any new information to our client's cases and situations. It is important that your prenuptial agreement falls within the boundaries of any new laws, or you risk the agreement being null and void. Our attorney's are licensed to practice in Texas and Louisiana, and can be reached toll free at (877) 229-9997 or locally at (713) 229-9997.