While some young couples in Texas avoid discussions about prenuptial agreements, both parties in a second or third marriage may recognize the importance of protecting their respective assets. Prenuptial agreements need not focus on the possibility of a divorce in the future, but rather on creating structures for successful marriages. Remarrying often involves children from previous marriages of both partners, and proactively addressing potential issues may provide peace of mind to both spouses.
Each spouse is typically represented by separate legal counsel when a prenuptial agreement is drafted. The law requires each party to provide full disclosure of debts and assets. Multiple issues may be addressed in a prenup, including how day-to-day expenses and home maintenance costs will be shared, as well as expenses related to medical costs and vacations. Liability for existing debts of each spouse can be addressed, including child support obligations. Clarity about financial responsibilities of each spouse may avoid future contention.
Another reason for the need of a well-drafted prenuptial agreement is protecting the inheritances of children from prior marriages. A clear separation of community and separate property can be recorded as well as directives on whether incomes will be kept separate or in a joint account. Some couples choose to have individual accounts and create a common account for household expenses.
Experienced family law attorneys are available to provide guidance to Texas couples who are considering a second or third marriage. There are specific requirements related to the legitimacy of prenuptial agreements. Both parties must sign the agreement voluntarily and without undue influence. A court may question a prenuptial agreement that was signed only days before the wedding, as this may raise questions of one spouse being pressured into signing it.
Source: mysanantonio.com, “Issues to Consider before a Second Marriage“, Paul Premack, Oct. 5, 2015