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What does a prenup cover?

On Behalf of | Jun 2, 2022 | Divorce, Prenuptial Agreements |

Preparing for a wedding is exciting and also a bit nerve-wracking. One of the elements you may not want to address but should consider is whether you should create a prenuptial or premarital agreement.

Prenups get a lot of negative press, mainly because they are a misunderstood legal tool. If you want to prepare yourself for an uncertain future, learn what a Texas prenuptial agreement does and does not cover.

What is a prenuptial agreement?

Many believe that a prenup signals doom for your upcoming relationship. However, such an agreement may help alleviate devastation should you split. Since divorce can bring out the worst in people, creating a contract stating your wishes before that point may help minimize conflict and ensure a smoother process.

A premarital agreement acts as an insurance policy of sorts in that it only activates in a worst-case scenario. Just like you do not want to become the victim of a car accident or a disabling health event, you do not want to face a divorce. In its role as an insurance policy, a prenup may help ease the strain during a challenging time.

What goes into a prenup?

Texas law is clear that a premarital agreement can only address specific financial issues, such as:

  • What assets are separate property
  • How you will handle inheritances
  • What constitutes marital property and how you will split it
  • Whether one party will pay spousal maintenance or not

What a prenup cannot cover are issues related to future or current children. You may not agree to custody or support payments in a prenup, but using a premarital agreement to remove the property division conflicts from a divorce may make you and your spouse more amicable to agree on child-related issues.

Whether you and your future spouse should have a prenuptial agreement is personal and should remain that way.