In Texas, Prenuptial Agreements are becoming a very important tool for prospective spouses in the event of future marital problems.  With the rise in divorce rates and more boomer/senior remarriages, many people with assets are turning to a marital contract to sidestep a potentially difficult and very expense divorce.

A prenuptial agreement allows prospective spouses to, legally in advance, specifically define rights and obligations to each other and further allows spouses to decide their future marital property rights with relativity minimal judicial actions.  A prenuptial agreement, in Texas,  can cover any matter except:

1. Violate public policy or a statute imposing criminal penalties

2. Adversely affect a child’s right to support

3. Defraud a creditor

Texas Family Code 4.003(a)(8), (b),4.106(a).

Among the permissible provisions that parties can list in a prenuptial agreement are the following:

1. Rights and obligations of any interest, present or future, legal or equitable, vested or contingent, in real or personal property.

2. Right to manage, control and dispose, by agreement, property upon separation of the married parties, dissolution of the marriage, death of either party, or other agreed event.

3. Modify or eliminate spousal support.

4. Specific matters related to prospective spouses, including personal rights and obligations that are not in violation of state laws.

5. Choice of a state or country law that will govern the prenuptial agreement.

6. Creation of a Will or Trust.

7. Disposing of the Estate upon the death of one of the spouses. Also ownership rights and disposition of benefits from a life insurance policy upon the death.

8. Waive one party’s right to occupy the family homestead after the other party dies.