When you get married in Texas, a community property state, the assets and property you acquire during your marriage will be jointly owned by you and your spouse. If you want to legally separate property before getting married, using a prenuptial agreement (prenup) is best.
What is a prenuptial agreement?
Using a prenuptial agreement, which is a written contract between you and your fiancé before you’re married is a fantastic way to list each other’s assets and debts. Doing so spells out each other’s property rights during your marriage, which can be helpful if you get a divorce.
Using a prenuptial agreement
If you’re getting married to someone who has a business or inheritance, they may want to use a prenuptial agreement to show they own those assets if you get a divorce. Prenups are also used when one of you has stepchildren. It can ensure that they get provided for after a divorce or the death of their biological parent.
Prenup stigmas
There are many stigmas associated with using a prenup. One of the prominent stigmas is the perception that it signifies a lack of trust between you and your partner. Other stigmas include a lack of romance and pessimism about the relationship, as it may be seen as a negative signal about the commitment between you and your partner.
Limits
Prenups have their limits. For example, a cap can’t be set on child support payments. They also can’t condone illegal acts. If a prenup looks like it’s been completed to defraud creditors, it may be ruled invalid.
If you’re getting married and have valuable assets, you may want to consider using a prenuptial agreement. Choosing this option can be invaluable if you get a divorce and want to protect your wealth.