Postnuptial agreements offer numerous benefits, such as safeguarding assets and ensuring fair distribution in case of a divorce. However, it is crucial to be aware of the elements that cannot be included in a postnup.
Understanding the limitations of postnuptial agreements in Frisco can help you develop a comprehensive contract that protects your rights while staying in line with the law. Get in touch with Towson Law Firm today to speak with an experienced and highly skilled postnup agreements attorney.
Postnuptial agreements cannot lay out requirements for child custody or child support. Child custody is generally determined after a divorce, if relevant, and will include a look at what is in the best interests of the child, not the parents. Child custody is one of the key limitations of postnuptial agreements in Frisco and one that both parties should keep in mind.
Similarly, child support is determined after the divorce. It is based on the standard of living the child had during the parents’ marriage, the child’s needs, and the unique financial circumstances of both parents after the divorce. A determined family law attorney could review you and your spouse’s postnup and ensure it follows state law.
A postnuptial agreement usually does not specify the behaviors the former spouse will engage in after the marriage ends, including terms like lifestyle choices or responsibility for maintaining assets shared during the marriage.
Some spouses may include financial terms that could ultimately lead to a benefit for agreeing to or filing for a divorce. However, these terms cannot be legally included as part of a postnuptial agreement.
Most of the time, a postnuptial agreement is intended to protect assets that one spouse brought into the marriage or that are the sole property of one spouse rather than being considered marital assets. In cases where the postnuptial agreement tries to lay out an unfair distribution of assets, such as designating all marital property to one spouse, the court generally will not enforce those terms.
Texas allows a postnuptial agreement to waive alimony as long as both parties agree to its terms and neither partner attempts to coerce the other into it. However, the agreement will require fair distribution and management of assets.
A postnuptial agreement must also accurately disclose both parties’ assets, including any marital assets. Failure to accurately assess available income, properties, or finances could invalidate the agreement in court.
Putting together a postnuptial agreement is one of the most effective ways you and your spouse can protect your assets and ensure continuity for your business or other jointly-managed property in the event of a divorce. However, there are several elements that your postnuptial agreement cannot include—and if it does, the court will not enforce those elements.
Working with a family lawyer is the most effective way to ensure you understand the limitations of postnuptial agreements in Frisco, the challenges that may arise, and the elements you can include to protect yourself and your assets. Reach out to Towson Law Firm, PLLC, today to discuss your plans with a seasoned marital agreement attorney and learn more about how to move through that process.
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.
