Prenuptial and Postnuptial Agreements in San Antonio
A prenuptial agreement in San Antonio is a legal contract that is entered into by two people prior to their marriage. The purpose of the contract is to protect property rights of both parties to the contract, or to delegate responsibility for debts owed or acquired prior to the marriage. A post-nuptial agreement is also a legal contract, but it is entered into after the marriage has taken place. Since there are no rules for the prenuptial or the post-nuptial agreement, the terms are entirely up to the couple to agree to as long as the terms are voluntary and fair.
Voluntary and Fair
Under Texas law, the San Antonio prenuptial agreement and the post-nuptial agreements are legally enforceable. There are no strict formulas or rules for protecting or dividing assets or debts, but the terms of the agreement must be “voluntary and fair”. To meet the threshold that an agreement is “voluntary and fair,” the contract must include the following criteria:
- Each party must be given a fair and reasonable disclosure of the other party’s property
- Each party to the agreement must sign a waiver of the disclosure
- Each party must have had adequate knowledge of the property or financial obligations of the other party to the agreement
When entering into a prenuptial agreement in San Antonio, a couple can choose how to designate the division of property and debts if a divorce should occur. The couple can agree on any division of property and debts, in whatever proportion they agree upon. Typically, one spouse has more assets than the other and they will seek to protect their assets. There are also certain life events, such as the birth of a child that can trigger the transfer or right to certain assets. There really are no hard or fast rules and the options are limitless. A prenuptial agreement in San Antonio will often contain the following:
- An accounting of all of the assets and debts of each spouse at the time of the marriage
- An agreement that no community property will be created during the marriage
- An agreement that each spouse will own all income and assets that he or she acquires during the marriage
- In the event of a divorce, there will be no community property division
A post-nuptial agreement is also referred to as a partition. A post-nuptial is an agreement entered into after the marriage has taken place that will partition the community property into two separate and distinct estates for whatever purposes the couple deems appropriate as long as the terms are voluntary and fair. The agreement will provide for the partition of all assets and debts that each spouse will receive upon execution of the agreement. As in the prenuptial agreement, there are no set formulas for the division of property and the couple is free to decide the terms of the agreement in accordance with wishes and desires.
Zinda Law Group of San Antonio Can Help
Entering a San Antonio prenuptial or a post-nuptial agreement is a legally enforceable obligation and it should be undertaken with the utmost care and concern. It is advisable to enter into an agreement with the assistance of a qualified attorney. The San Antonio prenup attorneys at Zinda Law Group have experience in the negotiation of prenuptial and post-nuptial agreements. Call 210-390-0742 to receive a consultation with an attorney today.