It is important for anyone considering marriage to speak with a Texas divorce lawyer about entering into a premarital or prenuptial agreement.
Although prenups have a reputation for being associated with particularly wealthy individuals who are getting married, they can actually be extremely beneficial to most people who are entering into a marriage regardless of wealth or income.
The Texas Family Code provides extensive information about premarital agreements and how they are enforced in the state.
Although prenuptial agreements can be helpful to almost anyone getting married, many people do not actually enter into a premarital agreement prior to the wedding. This is where the postnuptial agreement in Texas.
A postnuptial agreement, also known as a post marital agreement, works similarly to a premarital agreement in that it can allow spouses to enter into an agreement about certain terms related to their marriage and divorce.
What is a Postnuptial Agreement?
A postnuptial agreement is very similar to a premarital agreement in that both documents allow a couple to contract about certain financial issues and other matters in the event of divorce.
While a premarital agreement is signed before amarriage, a postnuptial agreement is signed after
Generally, the postnuptial agreement will involve terms concerning how the couple has agreed to divide marital property in the event of divorce. In some cases, couples can also enter into an agreement about spousal maintenance, or alimony.
To be enforceable, a postnuptial agreement cannot contain certain terms, and none of the terms can be unconscionable or based on fraud or duress. Couples are not permitted to enter into an agreement about child support in either a premarital or postnuptial agreement regardless of the terms.
In addition, postnuptial agreements cannot be signed when one of the spouses was under duress (for example, if a spouse with more earning power threatened to withhold money if the other spouse did not agree to the terms).
Even if there was no fraud or duress, a court can still find that a postnuptial agreement is unenforceable if it is unconscionable. An example of an unconscionable postnuptial agreement might be one in which a physically disabled spouse with extremely limited earning power agreed to give all marital (or community) property to the other spouse in the agreement.
Comment Elements in a Postnuptial Agreement
Now that you know what a postnuptial agreement cannot do, what terms can a married couple agree upon in a post marital agreement?
The following are common issues that come up in postnuptial agreements in Texas:
- How finances will be managed during the marriage;
- How community property will be divided in the event of divorce;
- Which spouse will be able to have control over certain property acquired during the marriage;
- How much spousal maintenance or alimony will be paid in the event of divorce; and
- Which party will be responsible for certain debts accrued during the marriage.
Contact a Postnuptial Agreement Lawyer in Texas for Assistance
Do you need help creating a postnuptial agreement, or are you seeking representation?
A dedicated Texas postnuptial agreement lawyer at our firm can help. Contact Simer & Tetens today to get started.