November 10, 2017 Collin County Prenuptial Agreements Getting married and committing to a future with someone can be a very exciting time. Certainly, the last thing you want to think about is getting a divorce. However, if you have assets you wish to protect, the smartest thing to do before saying, “I do,” to enter into a prenuptial agreement. Contrary to popular belief, these agreements are not just for those people with large estates, they are beneficial for nearly every couple contemplating marriage. A premarital agreement, also known as a prenuptial or antenuptial agreement, is a contract between parties getting married. Some of the reasons couples enter into premarital agreements include: To preserve inheritance rights for prior born children To establish property rights To establish alimony rights To disclose and discuss each party’s respective estates To identify and protect ownership of joint and separate property A premarital agreement should be completed well in advance of the wedding date. In the event of a subsequent divorce, the enforceability of a premarital agreement will depend on a number of factors, including the timing of and the execution of the agreement, whether the agreement is fair and reasonable for both parties and whether there was any fraud. However, even if the premarital agreement is determined to be unfair in its terms, the Court may still enforce it if it was consented to after a full, fair, and frank disclosure of the other party’s estate. Although many people are uncomfortable discussing a prenuptial agreement during the whirlwind of planning a wedding, a well-drafted, well-crafted agreement will provide you with the certainty you need in the event of a divorce or follow by death during the marriage. The Ramage Law Firm will help you understand the rules, limitations, and guidelines in Texas, and draft an agreement, or review one you are being asked to sign. Contact us today to discuss your options.