When couples divorce, the division of their marital property is often a contentious issue. This is especially true given that the state of Texas has adopted community property rules, which can lead to a division of assets that is anything but equitable. Luckily, an appropriate marital agreement protects all parties involved, helps set expectations for the marriage, and clearly defines what property can be divided during the course of a divorce case.
Whether you are considering a pre- or postnuptial agreement, you can benefit from a discussion with a dedicated family attorney. Let a Frisco marital agreements lawyer help you with this important aspect of your future.
There are two common types of marital agreements that a Frisco attorney can prepare on your behalf. These include postnuptial and prenuptial agreements. Both of these allow two individuals to reach a consensus on what is considered marital property and what is not. This is especially important in a community property state like Texas. Preemptively declaring certain property as belonging solely to one individual—as opposed to shared via the marriage—could avoid major disputes in the future.
In addition, these marital agreements can also deal with the issue of spousal support. The parties could agree on what a reasonable amount of spousal support is as well as how long this support might last. The major difference between these two agreements is based on timing.
Prenuptial agreements are put in place before a couple is married. This allows the couple to go into the marriage with clear expectations regarding their financial future. Discussing the question of divorce prior to getting married might be uncomfortable at first, but many couples find resolving these issues upfront to be immensely helpful.
It is also possible to reach a marital agreement during the course of a marriage. This is a common approach for married couples whose financial circumstances have changed during their union. For example, a spouse who has accrued tremendous personal debt might agree to a marital agreement that absolves their spouse of this obligation.
The details of marital agreements are flexible and can be tailored to fit each relationship. They can cover a wide range of topics that come up during divorce proceedings. This includes many financial issues the couple might face.
Nevertheless, there are certain things a marital agreement cannot cover. Those issues are generally related to minor children. For example, a marital agreement cannot determine child custody or visitation. Likewise, a couple cannot agree that child support payments are unnecessary. These terms must be decided by a judge. A marital agreements attorney in Frisco could assess a client’s circumstances and develop the strongest possible approach to the issues that these agreements can cover.
If you are considering a marital agreement, it is a good idea to discuss your options with an attorney first. Strong legal counsel ensures that the agreement you sign is in your best interest.
It is risky to negotiate marital agreements on your own. Let a Frisco marital agreements lawyer advise you every step of the way. Contact our firm today to schedule a consultation and avoid jeopardizing your future.
Our Law Firm’s approach to your case is based on individual circumstances. Whether it is a simple negotiated settlement, or it requires an aggressive approach, we will protect and defend your best interests.