Many couples entering into marriage are concerned about maintaining and protecting their property. At Pat White, we are dedicated to helping engaged and married individuals reach their goals.
Our Texas Family Law Attorneys are here to answer your questions and help you reach your financial goals. If you are located in the greater Tarrant County including Fort Worth, Benbrook, Lake Worth, Eagle Mountain, Saginaw, Blue Mound, Weatherford, Azle, Granbury, Aledo, and Surrounding Areas, and you are concerned with protecting your assets during your marriage, contact Pat White today.
Texas property law is very different from the laws of most other states. Texas property law follows a community property system. This system identifies most of the property brought into the marriage by either spouse as community property, belonging the marriage, and not the spouse who “owns” the property.
Property belonging to the marriage is called Community Property. Property belonging to an individual spouse is called that spouse’s separate property. Separate property includes:
Any property that is not separate property is community property. This includes each spouse’s wages.
Entering into a premarital or marital agreement often has a stigma attached to it. However, there are plenty of very good reasons why one or both spouses might want to enter into a marital agreement. A marital agreement can protect a spouse who is entering into the marriage with far fewer assets than their partner, just as it can protect someone with far greater wealth than their spouse. These agreements can protect a partner who plans to quit their job to raise a family, or protect one spouse’s small business. Our attorneys are ready to listen to your specific concerns and draft an agreement that is right for your family and circumstances.
Entering into a marital agreement is in no way a sign of bad faith or a selfish act. In many situations, entering into a premarital or marital agreement is the wisest decision for both spouses.
An engaged couple may enter in an agreement regarding how their property will be identified during the marriage, and how it will be divided up in the event of divorce or the death of a spouse. The agreement must be in writing and signed by both parties. It becomes effective when the couple is married.
Texas law permits engaged couples to make many important decisions regarding their property before they are wed, but there are some things you cannot legally agree to in a prenuptial agreement. For example:
Married couples can also make agreements regarding their property. A marital agreement may include any of the provisions included in a premarital agreement. However, a married couple may also agree to convert separate property into community property. For example, you may decide that the car the husband purchased before the couple was married (otherwise his separate property) is community property. This agreement is called a “Conversion Agreement.”
Marital agreements have some limitations as well. A marital agreement cannot include a provision that a party filing for divorce waives his or her interest in the couple’s community property. Normally, community property is divided up by the court during a divorce proceeding. An agreement that the spouse who filed for divorce does not get any of the community property is void.
Marital agreements terminate upon divorce. If you get remarried, you will need to execute a new agreement. Your old agreement will no longer be enforceable.
Unwed couples, with no intention to get married, still may require protection of their assets. Agreements between people who live together are called “palimony” agreements, or are sometimes called “cohabitation agreements” or “cohabs”. They are recognized whether the couple is heterosexual or homosexual.
Palimony agreements might include important terms like who will have to move out if the relationship ends, how bills and expenses will be split during the relationship, or who gets custody of a shared pet.
Many people think that you can revoke or nullify a marital agreement simply by tearing it up. That is not true. You must draft a formal, written revocation and both parties must sign it. Our attorneys are ready to help you decide whether to revoke your agreement, and to assist you in doing so.
A premarital or marital agreement will not be enforceable if it was not signed voluntarily.
A premarital or marital agreement will also be found to be unenforceable if it was “unconscionable” when it was created AND the following three point test can be met:
It can be very difficult to meet this test and have an agreement deemed unenforceable. Simply showing that the agreement was unfair towards one spouse is not enough. Our attorneys understand the legal intricacies of this test and can help you decide if you can meet the burden.
The right to enter into Prenuptial and Marital Agreements is set out in the Texas Family Code , beginning with Section 4.001. These sections are known as the “Texas Prenuptial Agreement Act.”
Premarital Counselors in Fort Worth — A list of premarital counselors in Fort Worth
Prenuptial Agreement.org — Resources about why you should consider a prenuptial agreement, and how to talk to your spouse about it
Discussing a prenuptial or marital agreement should be part of every couple’s wedding planning. The attorneys at Pat White are experienced at drafting agreements to meet the diverse needs of modern couple. If you are married or considering marriage in Tarrant County including Fort Worth, Benbrook, Lake Worth, Eagle Mountain, Saginaw, Blue Mound, Weatherford, Azle, Granbury, Aledo, and Surrounding Areas, contact us today to speak directly with one of our attorneys about your case.
