Postnuptial agreements are one of many legal documents that couples can use to protect their finances from the unknown, including the potential for divorce in the future. Like a prenuptial agreement, this document can cover how assets, liabilities, and other financial decisions will be handled if a divorce occurs.
The difference is that both partners sign the prenuptial agreement before the marriage occurs, and a postnuptial agreement is put into place after the couple is already married.
Call our law office today to learn more about the common conditions of postnuptial agreements in The Colony. Our seasoned postnuptial agreement attorneys at Towson Law Firm, PLLC, are here to help you understand the process, draft the agreement, and ensure it meets all legal requirements.
Texas is a community property state, meaning that all assets acquired in the marriage are subject to fair division between the spouses in the event of a divorce. However, couples can use a postnup to determine how they would like to divide their assets and even designate certain assets, such as an inheritance, as belonging to one party or the other.
The courts will generally uphold the terms of an agreement as long as it is fair and found to have been entered into freely by both parties. Postnups can also determine who is responsible for paying for debts incurred during the marriage, such as mortgages and credit card balances.
Another common condition of postnuptial agreements in The Colony is the determination of the future financial responsibilities of each spouse. This often includes the potential of spousal support, particularly if one spouse puts their career on hold to raise a family or if the earning power of the spouses is imbalanced.
Many married couples share a home and a business. Getting a divorce can threaten a family business as the individuals involved in the partnership struggle to determine how to divide the assets and who retains management control. A postnup can be used to answer these questions in advance and provide directives to ensure that a possible divorce in the future causes as little disruption to business operations as possible.
If an individual in a marriage inherits money or property, it makes sense that they would want to keep those items during a divorce. A postnuptial agreement can ensure that inheritances are handled carefully to protect their value for the recipient and avoid legal wrangling.
Divorce can be one of the most emotionally challenging situations a family can face. Postnuptial agreements are essential tools that help avoid conflicts during a divorce by preplanning how certain situations and issues will be handled.
Amicable planning for all future contingencies, including a marriage not working out, is not a matter of distrust or a doomed marriage. It is a way for couples to protect what they have worked hard throughout the marriage to earn and acquire from being lost to expensive legal battles.
Let our experienced marital agreement lawyers at Towson Law Firm help you understand more about postnuptial agreements and the conditions your agreement should cover. Contact us today to schedule an initial consultation with a family law attorney who is ready to assist you.
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.
