Couples contemplating divorce naturally have numerous questions about how their marital assets will be divided once the courtroom dust settles. After all, the thought of fairly splitting all their property, assets, and debts—things they’ve accumulated over 10, 15, and sometimes even 30 years—feels complicated and overwhelming, to say the least. While this complex step of property division may seem inevitable, it doesn’t have to be, especially for couples with prenuptial agreements.
Think of prenuptial agreements (also known as prenups) as contracts between soon-to-be-married couples. By creating and signing one, potential disputes—including those over property division—can be resolved and potentially avoided entirely.
No one wants to think about divorce when they aren’t even married yet. But having protections in place does help.
The Standard Process of Property Division
Texas classifies itself as a community property state regarding family law. This means property acquired during your marriage (with a few exceptions) is presumed to be equally owned by both spouses and must be divided when the marriage ends. However, before a Texas court can begin dividing property, it must classify all assets as separate or community property.
The Texas Family Code defines separate property as any assets you owned before the marriage, acquired during the marriage as a gift from a third party or an inheritance, or were awarded during your marriage as damages from a personal injury case.
These items can’t be divided, and in many cases, you must prove that a specific property should be classified as separate.
Anything else is classified as community property and subject to community property guidelines.
Items commonly divided as part of property division include but aren’t limited to the following:
- Houses, land, and rental properties
- Vehicles
- Business interests
- Oil, gas, and mineral rights
- Financial assets
- Debts and liabilities
How Do Prenuptial Agreements Impact Property Division In a Divorce?
Without a prenuptial agreement, state law typically dictates that marital assets and debts acquired while the couple was married are subject to community property laws. However, a prenup can specify which assets will remain individual property and which will be considered marital property. Prenups can also address debt responsibility and spousal support.
Not everything can be included in prenuptial agreements, but those that are legally entered into and consented to by both parties can generally set rules on matters like property, assets, and certain marital obligations.
To ensure a prenup is valid, both parties should fully disclose their finances, freely agree on fair terms, and consult family law attorneys. Competent and caring family law attorneys can help construct prenuptial agreements that will stand the test of time.
Please Call Christman | Daniell Attorneys for Your Legal Needs Today!
Looking for family law services in Texas? Christman | Daniell Attorneys is your premier choice with years of experience and a deep understanding of the legal landscape. Serving cities throughout the Dallas-Fort Worth area, our skilled team is dedicated to helping families navigate complex legal matters. Whether it’s divorce, child custody, or adoption, trust Christman | Daniell Attorneys to provide compassionate and effective representation for all your family law needs.
Please consult an attorney for advice about your individual situation. The material on this website and in this or any blog article we publish is for informational purposes only. They do not constitute legal advice. The attorneys at Christman | Daniell Attorneys believe in tailoring legal advice and solutions to your own personal circumstances.
We have an unwavering commitment to helping our clients at each stage of their legal situation.
