Premarital Agreement are often times referred to as "pre nups". Couples may elect to have a premarital agreement drafted before they get married to define each of their rights and obligations during their marriage as well as during a divorce. Premarital agreements can cover many topics so long as it does not 1. Violate public policy or a criminal law, 2. It does not affect a child's right to support, or 3. It does not negatively impact third party creditors. Couples have many reasons for entering into a premarital agreement; some of the most common reasons are:
a. To clearly define what property is separate property;
b. To outline how alimony would be paid should the parties divorce;
c. To predetermine the parties' rights and duties during the marriage;
d. To predetermine how the properties will divide their income;
e. To clarify how the parties will file their income taxes and who will be responsible for tax debt; and
f. To preserve assets for children of a prior marriage.
In Texas, premarital agreements must be in writing, signed prior to the marriage, and signed in front of a notary