Austin Marital Agreements Lawyer

A marital agreement is a binding legal document that enables you to outline certain key areas concerning various rights and obligations. Through a marital agreement, you can remove any legal ambiguity about the ownership and privileges you and your spouse have to a wide range of assets.

A skilled family attorney with experience managing these kinds of matters can provide qualified legal representation throughout the process. An Austin marital agreements lawyer could help you avoid costly mistakes that could make the legal document invalid while ensuring your rights and interests are respected.

Types of Marital Agreements

Prenuptial and postnuptial agreements are the two primary types of marital agreements, and they can contain many similar provisions. The most significant difference is that a prenuptial agreement is signed before marriage, and a postnuptial agreement is completed after the marriage.

A range of common provisions might be outlined in either kind of marital agreement. These could include:

  • Spousal support
  • Business ownership
  • The right to manage various property interests.
  • The right to reserve a future inheritance for specific heirs
  • How assets and debt would be distributed if the marriage ends due to divorce or death
  • Establishment of a will or trust to support the arrangements contained in the marital agreement
  • A guarantee that an inheritance received by either spouse is considered separate property

An Austin attorney could ensure a marital agreement conforms to the letter of the law and does not leave room for misinterpretation that could threaten its future validity.

Advantages and Limitations of Marital Agreements

A couple may choose to sign a marital agreement for many reasons, such as circumstances where one party has a high net worth or to protect each party’s assets. Considerable wealth does not have to be involved for a couple to sign a prenuptial or postnuptial agreement.

Any couple with any financial means may find advantages in signing a marital agreement. In a community property state, when a couple divorces later, any property acquired during the marriage is presumed to belong to both parties and subject to equal division.

Separate property should be retained by the original owner in the event the marriage dissolves. Inheritances, gifts, or property either party had before the marriage would be considered separate property. However, assets can sometimes come with marital property, making the process more complex.

To be legally enforceable, a marital agreement must be in writing, fully disclose all assets and debts, and be signed voluntarily. It must also be fair and not contain unconscionable provisions for either party. Certain issues, such as child support or child custody, will usually not be allowed in a marital agreement.

An Austin lawyer could help establish a marital agreement that provides peace of mind and about financial security and the future. A marital agreement can ensure adequate asset protection and reduce potential conflict and costly litigation in the future. A prenuptial or postnuptial agreement can protect one party from the debts of the other, clarify what property is marital vs. separate, include estate planning provisions, and other areas of importance.

Consult With an Austin Marital Agreements Attorney

Signing a marital agreement does not mean you are planning for the breakup of your marriage. A marital agreement can help you secure your financial future and ensure you and your spouse fully protect your assets according to your wishes.

An Austin marital agreements lawyer could offer advice when you are considering a prenuptial or postnuptial agreement. To speak with a lawyer at Kimbrough Legal about your objectives and goals for your marital agreement, contact our office today and schedule your confidential legal consultation.