Understanding the Value of a Prenuptial Agreement in Texas
When two people are planning on getting married, there are a lot of details to consider. One key detail – which many couples disregard – is the establishment of a prenuptial agreement. A prenuptial agreement lays out the terms of how assets – including property, current and future income, alimony, and more – will be distributed should the marriage be dissolved.
Although very few couples believe they will ever get divorced, things do happen. Even the happiest of couples could at some point have their marriage end in divorce. A prenuptial agreement does not mean your marriage will collapse; it is more like an insurance plan to protect each party’s assets and allow them to be fully prepared should divorce occur. As soon as both parties agree to and sign the prenuptial agreement, it becomes a legally binding contract.
If you are interested in drafting a prenuptial agreement, Jamie Jordan, PLLC can help. We can ensure that the agreement reflects your best interests and protects your rights.
Give us a call at 281-378-7539 to get started with a free consultation.
How Prenuptial Agreements Have Evolved
Prenuptial agreements were initially seen as a weapon of wealthy individuals who sought to protect their wealth before entering a marriage they did not believe would last. However, this prenuptial agreement phenomenon has evolved over time such that prenuptial agreements now are a norm, rather than the exception.
Also, before the mid-1980s, these prenuptial agreements had a shaky legal standing in state courts, where judges often refused to enforce them. In 1983, however, the National Conference of Commissioners on Uniform State Laws enacted legislation known as the Uniform Premarital Agreement Act (UPAA) that bolstered the enforcement of these agreements in state courts.
In modern times, prenuptial agreements are a common thing, and the agreements are not limited to couples with substantial wealth or assets. While not everyone needs a prenup, it is normal for engaged couples to discuss, agree to, and have a prenuptial agreement signed before they say, “I do.”
When to Create a Prenuptial Agreement
In the past, prenuptial agreements were thought to be reserved solely for individuals who had a substantial estate or assets prior to the marriage, and who wanted to ensure those assets would be protected in the event of a divorce. These days, since many couples are getting married after they have obtained real estate and other assets, prenuptial agreements are becoming more commonplace.
A prenuptial agreement can be a smart idea for any couple looking to get married. Regardless of your background and finances, you would be wise to consult with a Fort Bend County divorce lawyer who can help you draft a just prenuptial agreement.
Consider a prenuptial agreement if:
You are a part owner of a family-owned business. If your portion of the business is not protected by a prenuptial agreement, a messy divorce could have a devastating impact on you, your family, and the family business itself.
You have a significantly greater income than your future spouse.Without taking measures to protect your hard-earned income, you could end up losing it. Keep in mind that even with a prenuptial agreement in place, issues including alimony and child support payments, child custody, and visitation rights may still need to be resolved.
Where one of the spouses has significantly more wealth or assets than the other spouse. In this situation, it would make sense for the spouse with significantly more assets to insist on a prenuptial agreement to protect those assets in the event the marriage does not last their lifetimes.
You or your soon-to-be spouse has been married before. Things can get messy when you have to factor in previous marriages, so a prenuptial agreement can protect your rights.
Where one spouse has children from a previous marriage or relationship. It is advisable for a spouse with children from a previous relationship or marriage to ensure assets they own are protected and preserved for those children in the event the second or subsequent marriage is terminated.
You could at some point receive a large inheritance. Protecting future or potential inheritances and income is important. Nobody wants to lose part of their family’s hard-earned estate in a divorce.
You simply want peace of mind. Divorce can be expensive and extremely litigious, especially in cases where there are high-value assets. One way to make sure the costs of litigating the divorce are kept to a minimum is to have a prenuptial agreement. Having a prenuptial agreement can resolve many issues ahead of divorce papers being filed, and if this happens, it will not be necessary to have them litigated again when the divorce is being finalized, saving both parties time and money.
Protect Your Future
We understand that when two people are preparing to get married and have the happiest day of their lives, they rarely want to discuss the possibility of divorce. Unfortunately, it is a discussion that any couple should have prior to entering into a marriage. With many years in practice, our Fort Bend County prenuptial agreement attorney can answer any questions and help set your mind at ease.
At Jamie Jordan, PLLC, we take the time to review your situation, evaluate the best course of action, and assist you in preparing and executing your prenuptial agreement. We work hard to ensure the assets, estates, and legal rights of each of our clients are fully protected. A prenuptial agreement can be an intrinsic part of protecting you and your rights.
Do I Need a Sugar Land Prenuptial Agreement Lawyer?
Texas laws on prenuptial agreements are complex and constantly changing, making it important to have an experienced lawyer to help you. If you’re engaged and contemplating having a prenuptial agreement, a knowledgeable Sugar Land prenuptial agreement lawyer is here and ready to give you accurate and up-to-date advice as well as to help you in having a sound prenup agreement that can be enforced in Texas.Contact us for a free and confidential consultation.
Attorney Jamie Jordan understands the pain of divorce – her parents divorced when she was a child and she has also personally experienced the pain of divorce from a previous marriage. She understands the emotional turmoil of this difficult time and she is passionate about providing caring and compassionate representation to clients navigating a divorce. Whether you are facing a contested divorce or a more amicable uncontested divorce, Attorney Jamie Jordan is ready to help you.