Texas is a Community Property State, but what does that mean? It means that any property that is purchased with community funds after the date of the marriage is considered community property, belonging to both spouses. Typically, when someone is asking for a Pre-Martial or Prenuptial Agreement they are trying to limit the community estate. As long as the agreement meets the requirements set out in the Texas Family Code it will stay in effect during the marriage and in the event of divorce, the parties will look to this agreement to see how property is characterized.
Many people are under the false impression that a prenup agreement will let them keep all their property in the event of divorce- this is not the case. When you enter into a prenup in Texas you are only protecting the assets that legally belonged to you prior to the date of your marriage. If you would like more information on a prenuptial agreement you should contact the Recalde Law Firm to schedule a consultation.
If you do decide to meet with an attorney regarding a prenuptial agreement, you will need basic biographical information for you and your soon to be spouse, including full names, dates of birth, etc. You should also have a list of assets and liabilities for yourself as well as what you believe to be the assets and liabilities of your soon to be spouse. Some assets you will want to have information on are:
A. Retirement and Pension Accounts,
B. Stock Options
D. Life Insurance
You should also have information regarding any inheritance or gifts that you have received in the past and any that you may expect to receive in the future. Finally, anytime you meet with an attorney you should write out a list of questions in advance so you do not forget to address them during your consultation. Some questions to think about may including providing for children from prior marriage or questions regarding business interests you might have.
It is best to be up front and honest with your soon to be spouse, about your desire to enter into such an agreement. This is not something you want to wait until the last minute before the wedding to bring up. It is best to have any prenuptial agreement executed and signed by the parties no later than 30 days prior to your date of marriage. Call the Recalde Law Firm at 855-687-9903 to schedule a consultation regarding any questions you might have regarding a prenuptial agreement.