What Topics Can We Address in Our Prenuptial or Postnuptial Agreement?
A prenuptial or postnuptial agreement is at its most basic level a contract. For a contract to be valid, it must represent a bargained-for exchange, or a meeting of the minds of two or more parties who entered into an agreement. One party agrees to give up something of value in exchange for the other person's performance or giving something of value.
Texas follows the UPAA
Texas is one of more than 27 states which have enacted the Uniform Premarital Agreement Act (UPAA), a body of law developed to promote uniformity of law among states who subscribe to its tenets. The UPAA offers protection for prospective couples in many areas, including:
- Modification or elimination of spousal support
- Disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event
- Rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located
- Right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property
- The ownership rights in and disposition of the death benefit from a life insurance policy
- The choice of law governing the construction of the agreement, except that a court of competent jurisdiction may apply the law of the legal domicile of either party, if it is fair and equitable
- Any other matter not in violation of public policy or a statute imposing a criminal penalty
Marital agreements can't limit children's rights
Some matters cannot be contracted for in a marital agreement because doing so could negatively impact the best interests of children, should unforeseen circumstances arise in the future. Those off-limits subjects include child support, health and medical expenses, medical insurance and childcare coverage.
Peterson Law Group, a Brazos County family law firm, prepares comprehensive prenuptial and postnuptial agreements. Call our office to make an appointment at 979-703-7014, or fill out our online contact form.