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Alimony, property division and other prenuptial agreement issues

The wonderful warm weather in Texas means that wedding season is here. While that means that a lot of couples will enjoy a blissful day, there are some issues that should be addressed prior to walking down the aisle. Prenuptial agreements are one of those issues.

As unpleasant as it may seem for you and your new spouse, coming up with a valid prenuptial agreement is usually a good idea so you both know what to expect if the marriage fails. One area that is being covered more in prenuptial agreements is spousal maintenance, which is also known as alimony.

In the prenuptial agreement, you and your spouse can agree on how alimony will be handled. It is important to agree on what will happen if your life situation changes greatly. An example of this would be how spousal support would work if one spouse opted to quit a job to raise children. Income for the parent — while still in the marriage — might also be included in the prenuptial agreement.

Texas is a considered a community property state, so many couples choose to address the division of property that is brought into the marriage and property that is acquired during the marriage. This can also include debts that are incurred during the marriage.

You and your future spouse should discuss a variety of matters about the prenuptial agreements. Almost anything can be covered in the agreement. The most notable exception to this is children. Plans for children and clauses relating to children can’t be included in a prenuptial agreement.

It is important for people who are entering into a prenuptial agreement to think about the future when they create the agreement. Unless you include an expiration date in the agreement or change the agreement while you are married, the prenuptial agreement will remain in force. If you opt to change the agreement after you are married, you will then have a postnuptial agreement. Knowing the laws regarding prenuptial agreements, alimony, property division and other matters can help you to ensure you are protected in the event of a divorce.

Source:  Lantana Living, “Prenuptial Bliss: Negotiate Your Agreement Well Before Wedding Day” No author given, Jun. 20, 2014

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