A premarital agreement is a contract between 2 persons who are planning to marry, that can alter or eliminate the way property and/or income is treated under Texas law following the marriage. These agreements are often entered into before remarriage or second marriages, and become operative in the event of divorce or death of one of the spouses.
Usually the parties are attempting to alter the way in which income earned during the marriage from separate property sources is treated. Under Texas law such income is deemed to be community property. But often times the parties will agree that all income received from an individual's separate property will remain that individual's separate property during the marriage.
Other types of premarital agreements include the making of a will or trust, agreements regarding the right to manage or control property during marriage, and agreements regarding the right to buy, sell, exchange, lease, encumber or otherwise dispose of property during the marriage.
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