If you`re considering getting married in Texas, you may want to consider creating a premarital agreement to protect your assets and make important decisions about property and finances. A premarital agreement can be a valuable tool for couples to discuss and plan for their future together before tying the knot.
To help you get started, we’ve put together a sample premarital agreement for Texas couples. This is not legal advice, and we recommend that all couples work with an attorney to create a premarital agreement that meets their specific needs.
Sample Premarital Agreement
This premarital agreement (“Agreement”) is made on [DATE] between [PARTY A NAME], residing at [ADDRESS], and [PARTY B NAME], residing at [ADDRESS], hereinafter referred to collectively as the “Parties” or individually as “Party.”
WHEREAS, the Parties intend to marry each other in the state of Texas; and
WHEREAS, the Parties desire to set forth their rights and obligations with respect to property and financial matters both during their marriage and in the event of a separation or divorce.
NOW, THEREFORE, in consideration of the above premises and the mutual promises contained herein, the Parties agree as follows:
1. Property Ownership
a) All property owned by each Party before the marriage shall remain the separate property of that Party.
b) Any property acquired by a Party during the marriage shall be presumed to be community property, owned equally by both Parties, unless otherwise provided in this Agreement.
c) Any property acquired by a Party during the marriage and paid for with separate property shall remain the separate property of that Party.
2. Marital Property
a) All property acquired by the Parties during the marriage, whether owned jointly or individually, shall be considered community property.
b) Upon separation or divorce, the Parties agree to an equal division of all community property, regardless of the source of the funds used to acquire it.
3. Spousal Support
a) The Parties waive their right to seek alimony from each other in the event of separation or divorce.
b) In the event of a divorce or separation, each Party shall be responsible for their own attorney`s fees and court costs.
4. Death of a Party
a) In the event of the death of a Party, the surviving Party shall have the right to receive any property owned jointly as community property with the deceased Party.
b) If a Party dies without a will, the surviving Party shall have the right to receive one-half of the deceased Party`s separate property.
5. Execution
This Agreement shall be executed by both Parties voluntarily and without coercion or duress.
6. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the state of Texas.
7. Amendments
This Agreement may be amended or revoked only by written agreement signed by both Parties.
IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first above written.
[PARTY A SIGNATURE] [PARTY B SIGNATURE]
[PARTY A NAME PRINTED] [PARTY B NAME PRINTED]
As you can see from this sample, a premarital agreement can address a variety of important issues, from property ownership to spousal support. By working together to create a premarital agreement, you and your soon-to-be spouse can ensure that you`re both on the same page about your future together.
Remember that a premarital agreement is a legal document, so it`s important to work with an attorney who is experienced in drafting such agreements to ensure that your document is legally binding and enforceable in the event of a separation or divorce.