While certainly an unromantic topic, especially when you are newly engaged and excited to be planning your wedding, a premarital agreement can play a vital role in how you fair financially at the end of a marriage, regardless of whether that be by divorce or death. As to the former, the end of the marriage by divorce, think about it this way. If you knew there was a fifty percent chance your home would be destroyed by fire, would you purchase homeowners insurance?
A premarital agreement is a contract entered into by a couple in anticipation of marriage. The agreement must be in writing and signed by both parties. The agreement becomes effective upon the date of marriage.
A postmarital agreement is a contract entered into by spouses after the date of marriage. Like premarital agreements, this type of contract must be in writing and signed by both parties.
Both premarital and postmarital agreements are methods used to change the way property would otherwise be divided and distributed under Texas marital property laws in the event of divorce or death. Full financial disclosure by the parties is necessary. While provisions covering child custody, visitation and support are sometimes included in these types of agreements, a Court may refuse to enforce an agreement or provisions that adversely affect rights related to children.