Even Before Creating An Estate Plan, You Can Begin Marital Property Planning
Many people consider marital property to be a family law matter. But it also plays an important role in estate planning. And because people typically get married decades before planning their estate, it is important to understand that the marital property decisions you make now could have a large impact in the future. Whether you are engaged or already married, it is critical to know the laws about property division in marriage. Our lawyers at Brink Bennett Pargaman Atkins & Sanchez PLLC can help you with the fine details and customize a plan that works for you.
Start By Clearly Defining Ownership
An essential step in the estate planning process is defining ownership of separate and community property. Relationships and partnerships have the potential to deteriorate over time and you could lose your assets in a split. You will want to create a community property, postnuptial or premarital agreement to protect your valuables.
The most important reason to define ownership is to protect the inheritance of children in blended families. You will want to ensure that they benefit from your estate upon your death.
It is also important to allow your spouse to claim a stake in some of what you value. In some cases, we recommend that clients convert separate property to community property to avoid disputes.
Our attorneys will thoroughly review your assets and your plans for your property. You can rely on our extensive experience to help you determine an efficient way of classifying your assets.
Your Agreement Is For Your Protection
Property, gifts and inheritance you acquired before marriage should be outlined as separate property. Without a prenuptial agreement, those assets could be the subject of disputes between you, your family and your spouse in case of divorce, disability or death. This can become a challenge for you if you have children from a previous marriage or relationship who should benefit from your estate.
One of our lawyers can protect your interests and the interests of those you love by preparing a customized premarital agreement or postmarital property agreement, community property partition agreement, or separate property conversion agreement.
Contact Us Today To Discuss Next Steps For Marital Property Planning
Brink Bennett Pargaman Atkins & Sanchez PLLC is based in Austin and we serve clients throughout the surrounding areas of Texas. Call 512-643-3338 or email us to schedule a consult.