Dallas-Fort Worth Attorney David Kohm Can Assist With Your Prenuptial Agreements
As an Arlington TX family law attorney here in the Dallas-Fort Worth area, I have clients constantly ask me “When is it necessary to establish a prenuptial agreement?" My response is simple: “What are the reasons you wouldn’t want one?” I’ve written a lot of prenuptial agreements and there are some general rules of thumb that everyone should keep in mind. If you’re thinking of getting married and are thinking of getting a prenuptial agreement before marriage, there are a lot of considerations you need to discuss before determining how the final contract will end up, which you will then both sign.
This is where the experience of a qualified Dallas family law attorney can help you sort through all the legal intricacies and help you narrow down the terms you most want. Once we meet, we’ll be able to find out what is and isn’t relevant to your situation. In the meantime I’ve created a simple checklist that you should review which will cover most of the key elements that make up your agreement.
Determine what debts you both have and how they will be handled. Clarify debts that you have before marriage and debts you will incur after you’re married. Will the debts prior to marriage be kept separate while debts incurred after marriage be paid jointly? These are questions that you need to answer so that there can be no confusion once the prenuptial is prepared.
Financial Balance Sheet:
Make a list of all your assets, liabilities, and current income. Also be sure to list any future inheritances, gifts, trust accounts, or any other potential future assets each of you may acquire. Please don’t leave anything out and if you’ve already established some joint assets, please specify what they are and whether they were created together or otherwise.
Should either of you have any real estate, timeshares, land, or other property aka separate property prior to marriage, please determine the disposition of each piece of property, should you face a contested divorce or decease. Simply put, who gets what and if there are any caveats as to how they receive it.
You both need to discuss what happens to assets acquired after your married, should you later divorce or one of you predeceases the other. Assets that appreciate in value, future earnings, proceeds from property you sell retirement accounts, life insurance, etc.
As you can see, there is a process that must be followed in order to make sure both parties are protected and the Law Offices of David Kohm can help you ensure that all the bases are covered. We’ve represented a lot of couples who understand the value of having such an agreement and we’ll be happy to meet with you to discuss your concerns, questions, and any other family law issues you want to talk about. Call our offices today for a complimentary session.
While every effort has been made to ensure the accuracy of this information, it is not intended to provide legal advice as individual situations will differ and should be discussed with a qualified licensed attorney. For specific technical or legal advice on the information provided and related topics, please contact our law firm directly.