Form 63-4

This agreement should be executed by the parties, following marriage, only if the premarital agree­ment contains provisions for the waiver by one or both parties of the other party’s retirement benefits or if the parties are agreeing that income from separate property will be separate property.

Property Agreement between Spouses

The parties to this Property Agreement between Spouses are [name of party A] and [name of party B], the spouses. This agreement is entered into in accordance with the Premar­ital Agreement previously executed by the spouses.

The spouses stipulate as follows:

1.[Name of party A] and [name of party B] were married on [date].

2.The spouses presently own as separate property the real and/or personal property described in Schedules A and B of the Premarital Agreement. Schedule A contains a descrip­tion of the property owned at the time of marriage by [name of party A] as [his/her] sole and separate property, and Schedule C contains a description of [his/her] debts and obligations. Schedule B contains a description of the property owned at the time of marriage by [name of party B] as [her/his] sole and separate property, and Schedule D contains a description of [her/his] debts and obligations.

3.The spouses desire to ratify their Premarital Agreement and to provide by this agreement (a) that all income arising from [name of party A]’s separate property will be [his/her] separate property and remain under [his/her] ownership, management, and control, both during this marriage and on its dissolution by death or court order, unless such separate prop­erty is otherwise voluntarily transferred from [name of party A] to [name of party B] by will or other written instrument; and (b) that all income arising from [name of party B]’s separate property will be [her/his] separate property and remain under [her/his] ownership, manage­ment, and control, both during this marriage and on its dissolution by death or court order, unless such separate property is otherwise voluntarily transferred from [name of party B] to [name of party A] by will or other written instrument.

In consideration of the mutual covenants contained in this agreement and other good and valuable consideration, receipt of which is hereby acknowledged, and in accordance with the Premarital Agreement previously entered into by the spouses, [name of party A] and [name of party B] agree as follows:

Article 1 

Income Arising from Separate Property of [name of party A]

All future earnings and income arising during marriage from the separate property of [name of party A], as well as all subsequent income arising from the reinvestment of that income, is the separate property of [name of party A] unless the parties specifically agree in writing to the contrary.

Article 2 

Income Arising from Separate Property of [name of party B]

All future earnings and income arising during marriage from the separate property of [name of party B], as well as all subsequent income arising from the reinvestment of that income, is the separate property of [name of party B] unless all parties specifically agree in writing to the contrary.

Article 3 

Waiver of Retirement Benefits by [name of party A]

3.1     Waiver by [name of party A]

[Name of party A] waives all right, title, and interest, if any, that [he/she] has or may have by virtue of [his/her] marriage to [name of party B] in all of [name of party B]’s retire­ment benefits [include if applicable: and disability benefits], whether lump sum or installment, arising out of [name of party B]’s past, present, or future employment. [Name of party A] acknowledges that this waiver includes all rights that [he/she] has or may have to receive any benefits or payments from [name of party B]’s 401(k) plan [include if applicable: as well as any interest in [name of party B]’s individual retirement account]. [Name of party A] further waives all rights [he/she] may have to participate in any decisions concerning the designation of beneficiaries or election of benefits or any other types of decisions to be made by [name of party B] under the terms of [her/his] current or future employee benefit plan or plans. This waiver is effective whether the parties’ marriage is terminated by death or by court order.

[Include the following if party B has designated a specific beneficiary: [Name of party A] acknowledges that [name of party B] has designated [name] as the beneficiary of all benefits associated with [name of party B]’s interest in [her/his] [describe retirement plan] as a result of [her/his] employment with [name of employer]. [Name of party A] further acknowledges that [he/she] has the right to limit [his/her] consent relating to [name of party B]’s designation of a particular beneficiary. However, [name of party A], by executing this agreement, voluntarily elects to relinquish that right.]

Article 4 

Waiver of Retirement Benefits by [name of party B]

4.1     Waiver by [name of party B]

[Name of party B] waives all right, title, and interest, if any, that [she/he] has or may have by virtue of [her/his] marriage to [name of party A] in all of [name of party A]’s retire­ment benefits [include if applicable: and disability benefits], whether lump sum or installment, arising out of [name of party A]’s past, present, or future employment. [Name of party B] acknowledges that this waiver includes all rights that [she/he] has or may have to receive any benefits or payments from [name of party A]’s 401(k) plan [include if applicable: as well as any interest in [name of party A]’s individual retirement account]. [Name of party B] further waives all rights [she/he] may have to participate in any decisions concerning the designation of beneficiaries or election of benefits or any other types of decisions to be made by [name of party A] under the terms of [his/her] current or future employee benefit plan or plans. This waiver is effective whether the parties’ marriage is terminated by death or by court order.

[Include the following if party A has designated a specific beneficiary: [Name of party B] acknowledges that [name of party A] has designated [name] as the beneficiary of all benefits associated with [name of party A]’s interest in [his/her] [describe retirement plan] as a result of [his/her] employment with [name of employer]. [Name of party B] further acknowledges that [she/he] has the right to limit [her/his] consent relating to [name of party A]’s designation of a particular beneficiary. However, [name of party B], by executing this agreement, voluntarily elects to relinquish that right.]

Article 5 

Execution of Documents

Each spouse agrees to cooperate fully with the other spouse in performing all acts and in executing, acknowledging, and delivering any instruments or documents required to accomplish the intent of this agreement. The spouses further agree to execute all instruments or documents within [number] days of receipt from the other spouse.

Article 6 

Ratification of Premarital Agreement

This agreement, as well as being a contract in its own right, is a ratification of the Pre­marital Agreement previously executed by the spouses before their marriage.

Article 7 

Representation

The attorney representing [name of party A] is [name]. The attorney representing [name of party B] is [name]. [Name of party A] has not received any legal, financial, or other kind of advice from [name of party B] or from [her/his] attorney, [name], in connection with the advisability or nonadvisability of entering into this agreement. [Name of party B] has not received any legal, financial, or other kind of advice from [name of party A] or from [his/her] attorney, [name], in connection with the advisability or nonadvisability of entering into this agreement. [Name of party A] is relying on [his/her] own judgment and the advice of [his/her] attorney in entering into this agreement. [Name of party B] is relying on [her/his] own judg­ment and the advice of [her/his] attorney in entering into this agreement.

[[Name of party A]/[name of party B]] acknowledges that [he/she] has been advised and encouraged and has had the opportunity to retain an attorney to represent [him/her] in connec­tion with this agreement but has specifically declined to do so. Nevertheless, [[name of party A]/[name of party B]] represents and warrants that [he/she] has the requisite knowledge and training to fully understand this agreement and understands that by executing this agreement [he/she] may adversely affect [his/her] marital property rights. [[Name of party A]/[name of party B]] is relying on [his/her] own judgment in entering into this agreement.

Warning

Each party to this agreement understands that by signing this document [he or she/he/she] is permanently surrendering rights to income or property [he or she/he/she] would otherwise have under Texas law and the law of other juris­dictions.

EXECUTED in multiple originals on the dates of the acknowledgments shown below.

Acknowledgment of [name of party A]

My name is [name of party A]. I acknowledge that:

1.I have carefully read each and every page of this agreement [include if applicable: and all schedules referred to, in their entirety].

2.I am entering into this agreement freely and voluntarily [include if applicable: after receiving the advice of independent legal counsel].

3.I have given careful and mature thought to the making of this agreement.

4.I completely understand the provisions of this agreement concerning its nature, subject matter, and legal effect.

5.I have been completely informed of the facts relating to the subject matter of this agreement, including the fact that by signing this agreement I am permanently surrendering rights to income and property I would otherwise have under Texas law.

5.I am freely and voluntarily entering into this agreement and understand that by executing this agreement I may be adversely affecting my marital rights and property.

   
[Name of party A]

Acknowledgment of [name of party B]

My name is [name of party B]. I acknowledge that:

1.I have carefully read each and every page of this agreement [include if applicable: and all schedules referred to, in their entirety].

2.I am entering into this agreement freely and voluntarily [include if applicable: after receiving the advice of independent legal counsel].

3.I have given careful and mature thought to the making of this agreement.

4.I completely understand the provisions of this agreement concerning its nature, subject matter, and legal effect.

5.I have been completely informed of the facts relating to the subject matter of this agreement, including the fact that by signing this agreement I am permanently surrendering rights to income and property I would otherwise have under Texas law.

5.I am freely and voluntarily entering into this agreement and understand that by executing this agreement I may be adversely affecting my marital rights and property.

   
[Name of party B]

State of Texas)

County of)

This instrument was acknowledged before me at ____________ __.m. on ___________________________________ by [name of party A].

   
Notary Public, State of Texas

I, the notary public whose signature appears above, certify that I am not an attorney representing either party to this agreement.

   

State of Texas)

County of)

This instrument was acknowledged before me at ____________ __.m. on __________________ by [name of party B].

   
Notary Public, State of Texas

I, the notary public whose signature appears above, certify that I am not an attorney representing either party to this agreement.