After marriage, the assets and property a couple acquires throughout the union are considered community marital property. When couples decide to end their marriage, the division of these assets is one of the court proceedings most people must face.
Some couples choose to enter into a marital contract, such as a postnuptial agreement, to make these arrangements in advance in case they need them later. Schedule to meet with a Frisco postnuptial agreements lawyer today to learn more about how effective marital agreements can protect you and your spouse’s assets.
Postnuptial contracts can cover the same topics as prenups. The main difference between the two marital agreements is the timing of when they are put in place. As the names suggest, a prenuptial agreement occurs before exchanging nuptial vows, whereas a postnuptial agreement is placed after a couple is already married.
The couple may not have had time before the wedding to arrange a prenuptial agreement. In other circumstances, financial changes may spark the process of seeking a postnup. Additional factors for choosing a postnuptial agreement include:
A trusted Frisco attorney could help someone decide whether a postnuptial agreement is suitable for their situation.
Marital agreements can cover a range of topics. Some of the common issues addressed in postnuptial agreements include:
A postnuptial agreement can even set guidelines on how finances are managed within a marriage, and not just if the union ends. It is important to note that if the couple entering into a marital agreement has children, they cannot make arrangements regarding support or custody. The needs of children change and evolve as they grow. Therefore, Texas laws require the parents to agree on arrangements involving their children at the time of the divorce. A Frisco postnuptial agreements attorney could help with setting terms that are legally enforceable and protect a couple’s best interests.
Texas family courts must comply with state legal contract rules and regulations to uphold the terms of a postnuptial agreement. While there are differences between a premarital and postnuptial agreement, they must meet the same requirements to be legally binding and enforceable. Under the governance of the Texas Family Code § 4.006, both parties must enter into the contract voluntarily and with access to legal advice and guidance.
Both parties to the contract must also disclose all their property, assets, and outstanding debt. Neither party can execute the agreement under duress or because fraudulent statements and documents misled them.
Lastly, the arrangement must be fair and equitable. An experienced attorney in Frisco could guide a couple through the drafting, signing, and finalizing of a postnuptial agreement.
Marital agreements continue to become more common for couples, especially those entering a second marriage later in life with a high net worth or adult children to name as beneficiaries for certain assets. Postnuptial agreements allow married couples to protect their assets, make vital estate planning decisions, and, if needed, they can expedite the divorce proceedings process.
Schedule a consultation with a knowledgeable Frisco postnuptial agreements lawyer to review your options for preparing a marital contract. Our team can answer specific questions and draft a postnuptial agreement to meet your needs.
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.