Prenuptial agreements are not particularly common in Texas, or in most other states. Texas is a community property state, which means that all assets acquired during a marriage, no matter by which partner, are treated presumptively as equally shared by the two spouses.
The only assets that are not shared are those determined to be separate property, such as those owned prior to the marriage, those received by gift, inherited items, and a few other forms of separate property. Most couples do not have significant separate property.
Often, although not always, prenuptial agreements are thought to be the tools of the rich. However, if you have assets of significant value before you marry—whether through inheritance, ownership of a business, or ownership of oil wells that provide future income—you might ask for a prenuptial agreement to keep those assets from becoming community property belonging partly to your future spouse. How does such an agreement work in a community property state like Texas?
What Is A Prenuptial Agreement?
At its most basic, a prenuptial agreement – often called a prenup – is a contract between the parties who plan to marry that governs the division and use of property owned by the prospective spouses at the time of their marriage. The agreement is typically suggested by the would-be spouse who owns more assets prior to the marriage. Often a party without significant debts will request a prenup in order to ensure that significant debt does not become the obligation of both spouses.
A prenuptial agreement, as its name implies, must be finalized before the marriage to be valid (before the nuptials). Basically, a prenup sets forth the rights of a spouse to control the assets owned prior to the marriage. It also could grant rights to some property to the other spouse under certain circumstances, and it can determine how pre-owned property will be distributed should the spouse who owned the property before marriage die during the marriage. A prenup cannot determine custody of children or limit the amount of child support to be paid in the event of divorce.
To be enforceable, a prenup must be in writing and executed in contemplation of marriage. Like any contract, both parties must sign the agreement and do so voluntarily. Under Texas law, a prenup cannot be enforced if the spouse seeking to enforce the agreement was dishonest about financial obligations or assets owned. Prenups can be changed after marriage if the spouses agree.
Frequently Asked Questions About Prenuptial Agreements In Texas
What is a prenuptial agreement?
A prenuptial agreement is a legal contract between two individuals planning to get married. It outlines how assets, debts, and financial matters will be handled during the marriage and in the event of divorce or death.
Why should couples consider a prenuptial agreement in Texas?
Texas is a community property state, meaning that any property acquired during the marriage is considered equally owned by both spouses. A prenuptial agreement allows couples to deviate from Texas’s default community property rules and define their terms for asset division and financial arrangements.
What are the legal requirements for a prenuptial agreement in Texas?
To be valid, a prenuptial agreement in Texas must be in writing, signed by both parties, and entered into voluntarily without coercion. Both parties must fully disclose their assets, debts, and financial obligations before signing.
What can be included in a prenuptial agreement?
A prenuptial agreement can cover a wide range of financial matters, such as property division, spousal support, the handling of assets acquired during the marriage, and the disposition of property upon separation, divorce, or death.
Is a prenuptial agreement legally binding in Texas?
Yes, a prenuptial agreement is legally binding in Texas as long as it meets the legal requirements and is not in violation of public policy or criminal statutes.
Can a prenuptial agreement be modified or revoked in Texas?
Yes, a prenuptial agreement can be modified or revoked if both parties agree to the changes and the modifications are made in writing and signed by both parties.
How much does a prenuptial agreement cost in Texas?
The cost of a prenuptial agreement can vary, but it typically ranges from $1,000 to $5,000, depending on the complexity of the agreement and the legal fees involved.
Do prenuptial agreements imply a lack of trust between partners?
Not necessarily. Prenuptial agreements can actually promote transparency and open communication about finances, which can strengthen trust and reduce conflicts related to money.
Who should consider a prenuptial agreement?
Couples with significant assets, debts, or financial obligations, those entering a second marriage, and those with children from previous relationships may benefit from a prenuptial agreement.
How should couples approach creating a prenuptial agreement?
Couples should approach creating a prenuptial agreement with open communication, honesty, and the guidance of a qualified family law attorney. It’s important to discuss financial goals, expectations, and concerns to ensure the agreement reflects both parties’ interests.
If You are Contemplating a Prenup, Talk To Orsinger, Nelson, Downing & Anderson LLP
A prenuptial agreement is not a sign that you believe divorce is inevitable. Sometimes it just makes sense to protect assets from creditors. If you believe you might want a prenup prior to marrying – or if your prospective spouse is asking for a prenup – you should talk to the Dallas prenup lawyers Nelson, Downing & Anderson LLP. We can help you evaluate the options available. Call us at (214) 273-2400 or contact us here. We also have offices in Frisco, Dallas, and Fort Worth.
(Updated 1/29/2025)