Although an increasing number of couples are entering into prenuptial agreements prior to marriage, there is still a feeling among many that prenuptial agreements undermine the full commitment or trust that is fundamental to a marital relationship.  When considering a marital partnership, it can be helpful to draw an analogy to business partners – marriage is a particularly expansive form of business partnership involving both the personal and professional aspects of a couple’s lives.

Few business partners would consider entering into a partnership without an agreement that delineates matters like the initial contributions of each party, sharing of profits, responsibility for liabilities, management duties, process for voting or separation and so forth.  When considered in this light, the notion of entering into a far more extensive partnership like marriage without establishing the expectations of each party if the partnership should dissolve seems almost reckless.  A prenuptial agreement is not a hedge against commitment to one’s marriage, but insurance that provides security and predictability if disaster strikes.  It would be silly not to buy insurance because of a fear that acknowledging the risk might make it more probably that something catastrophic might occur.

These types of marital contracts can be a way to provide both parties with peace of mind, fairness and predictability when the relationship is strong and secure as opposed to trying to resolve issues through contested litigation if a marriage does deteriorate.  When divorce proceedings become highly contested because the parties cannot agree on key financial issues like alimony (spousal support, spousal maintenance), property division, responsibility for debts, business ownership and other important matters involving your finances and property, the conflict can drive up attorney fees and litigation expenses.  When this occurs, there is less of the marital estate left for the parties to split and use when rebuilding following a divorce.

While the value of a prenuptial agreement in Texas may derive merely from the predictability it provides, some situations make it extremely prudent to consider such a pre-marital agreement, including the following:

• Either spouse expects to receive a substantial inheritance
• One spouse will earn a significantly higher income or be the sole income earner
• Either party enters the marriage with substantial assets and/or has a high net worth
• A marital partner has an established business
• One or both partners have prior marriages with children
• A spouse owns property especially income producing property
• Either partner has a relatively high debt to income ratio compared to the other spouse
• Husband or wife has a high risk occupation

While not every Texas marital partnership justifies a prenuptial agreement, it is important to seek legal advice regarding the merits of a “prenup” depending on your specific situation.  Texas family law attorney Alex Tyra offers a free consultation during which he can advise you about whether a prenuptial agreement is right for you.  Mr. Tyra also handles challenges to prenuptial agreements.  We invite you to contact us in our Longview office at 903-753-7499 or visit our website and submit a case contact form.