There are some common provisions that parties to a premarital agreement often want to include. The most common provision engaged spouses want to include in a prenuptial agreement is an identification of the property and debts of each party owned prior to marriage. The purpose of this clause is to identify what will be each party’s separate property after the marriage begins.

The second-most common clause in a Texas premarital agreement is a determination of whether the parties will accumulate any community property under Texas law, or whether the property of the parties acquired after marriage will remain each party’s separate property.

Parties may also contract regarding each party’s right to buy, sell, use, lease, mortgage, dispose of, or otherwise manage and control property, whether the community property of the parties, or the separate party of either party. Additionally, a premarital agreement may contain clauses regarding:

  • Income, deductions, and claims for filing tax returns
  • Management of household bills and expenses
  • Management of joint bank accounts, if any
  • Arrangement regarding investing in certain purchases or projects, like a house or business
  • Management of credit card spending and payments
  • Savings contributions
  • Property distribution to the survivor, including life insurance, in the event of death
  • Arranging putting one or the other through school
  • Settlement of potential disagreements, such as using mediation or arbitration

A premarital agreement may address how the parties plan to dispose of their property in the event of divorce, as well as the existence and terms of any spousal support.

The parties may address in a premarital agreement the disposition of property upon death, the provisions to be contained in either parties’ will, as well as the ownership and beneficiary rights of each party in a life insurance or retirement policy.

More generally, the parties may provide in the premarital agreement what laws will apply to the interpretation of the agreement. Most commonly, if the agreement is made in Texas, the agreement will provide a choice of Texas law for the interpretation and enforcement of the agreement.

A premarital agreement may contain other creative provisions that are important to the parties, provided that the provisions are not in violation of public policy or violate criminal laws.

For help in drafting your prenup, contact the Texas board certified attorneys at O’Neil & Attorneys.

Read more on premarital agreements:

What is a Prenup?           

Does getting a prenup mean that my fiancé doesn’t trust me?

But I’m not wealthy. Do I really need one?

How much will a prenup cost?

Can I skip the lawyer fees and D.I.Y. my prenup?

How to I tell my spouse-to-be that I want a prenup?

What are the requirements of a prenup?

Hat tip: 9 Questions You Want To Know But Are Too Afraid To Ask About Prenups

 

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Photo of Michelle O'Neil Michelle O'Neil

Michelle May O’Neil has 27 years’ experience representing small business owners, professionals, and individuals in litigation related to family law matters such as divorce, child custody, and complex property division. Described by one lawyer as “a lethal combination of sweet-and-salty”, Ms. O’Neil exudes…

Michelle May O’Neil has 27 years’ experience representing small business owners, professionals, and individuals in litigation related to family law matters such as divorce, child custody, and complex property division. Described by one lawyer as “a lethal combination of sweet-and-salty”, Ms. O’Neil exudes genuine compassion for her client’s difficulties, yet she can be relentless when in pursuit of a client’s goals. One judge said of Ms. O’Neil, “She cannot be out-gunned, out-briefed, or out-lawyered!”

Family Law Specialist

Ms. O’Neil became a board-certified family law specialist by the Texas Board of Legal Specialization in 1997 and has maintained her certification since that time. While representing clients in litigation before the trial court is an important part of her practice, Ms. O’Neil also handles appellate matters in the trial court, courts of appeals and Texas Supreme Court. Lawyers frequently consult with Ms. O’Neil on their litigation cases about specialized legal issues requiring particularized attention both at the trial court and appellate levels. This gives her a unique perspective and depth of perception that benefits both her litigation and appellate clients.

Top Lawyers in Texas and America

Ms. O’Neil has been named to the list of Texas SuperLawyers for many years, 2011-2018, a peer-voted honor given to only about 5% of the lawyers in the state of Texas. In 2014-2018, Ms. O’Neil received the special honor of being named by Texas SuperLawyers as one of the Top 50 Women Lawyers in Texas, Top 100 Lawyers in Texas, and Top 100 Lawyers in DFW. She was named one of the Best Lawyers in America for 2016 and received an “A-V” peer review rating by Martindale-Hubbell Legal Directories for the highest quality legal ability and ethical standards.

Author and Speaker

A noted author, Ms. O’Neil released her second book Basics of Texas Divorce Law in November 2010, with a second edition released in 2013, and a third edition expected in 2015.  Her first book, All About Texas Law and Kids, was published in September 2009 by Texas Lawyer Press. In 2012, Ms. O’Neil co-authored the booklets What You Need To Know About Common Law Marriage In Texas and Social Study Evaluations.  The State Bar of Texas and other providers of continuing education for attorneys frequently enlist Ms. O’Neil to provide instruction to attorneys on topics of her expertise in the family law arena.