What is a Premarital Agreement?
A premarital agreement, also known as a prenuptial agreement, is an agreement that two parties enter into before they get married. They are engaged and need to contemplate their liabilities, owned businesses, and other assets. A premarital agreement is a way to determine how those assets are going to be categorized.
Texas is a community property state, anything acquired or any earned income after marriage is community property in most cases. However, a prenuptial agreement allows you to identify what is going to be separate property. It helps you determine if future income, debt, or purchases are going to be categorized as separate or community property in the event of a divorce.