The Basics of a Texas Postnuptial Agreement
We are all familiar with the idea of prenuptial agreements, but postnuptial agreements do not get as much attention. Both agreements are legal contracts that address how a couple’s property will be divided in the event of divorce or upon the death of one spouse. While a prenuptial agreement, as the name implies, is entered into upon marriage, a postnuptial agreement is executed while the couple is married.
Prenup vs. Postnuptial Agreement in TX
The fact is that marriages evolve as the years go by and, even if you have a valid prenuptial agreement, it may not continue to adequately address the issues that may arise in the future.
A postnuptial agreement allows you, as a couple, to address your concerns about the division of your marital property in light of your evolving marriage.
An experienced Killeen postnuptial agreement attorney will help you explore whether a postnuptial agreement is a good fit for you.
Reasons for a Post-Nuptial Agreement: A Second Marriage
If your marriage is a second marriage and either one (or both) of you came into the relationship with children, then a postnuptial agreement can be an excellent tool for delineating not only how marital assets will be divided upon divorce, but also how inheritances will be assigned in the event of death.
A postnuptial agreement can also help ensure that a surviving spouse will maintain financial security in the interim between his or her spouse’s death and that spouse’s children’s inheritances.
Reasons for a Post-Nuptial Agreement: Unequal Earning
Sometimes, one spouse earns significantly more than the other throughout the course of a marriage, and that spouse may be interested in securing a larger percentage of marital assets if the marriage ends in divorce.
On the other hand, if a lower earning spouse walked away from his or her own lucrative career – or pursued a less demanding career – for the sake of the family, then that spouse may be motivated to protect his or her financial future via a postnuptial agreement.
Reasons for a Post-Nuptial Agreement: Financial Setbacks
If one marriage partner has accrued considerable debt unbeknownst to the other, it can loom as a financial threat to the marriage. A postnuptial agreement can help a couple move forward by establishing how this debt will be divided if the marriage ends in divorce. This can allow the unwitting spouse a greater sense of security moving forward.
Have Questions About Postnuptial Agreements in Texas? Consult a Lawyer Today!
A postnuptial agreement can be a useful legal tool – especially for second marriages with children from prior marriages. As marriages evolve, they often become more and more financially complicated, and a postnuptial agreement can help sort out these complications.
Do not think of a postnuptial agreement as a sign that your marriage is weak but as a symbol that you are both committed to attending to important financial details together. The dedicated divorce attorneys at The Law Office of Brett H. Pritchard in Killeen have the experience, skill, and knowledge to help you create a postnuptial agreement that works for you.
- Why You Might Want to Consider a Prenuptial Agreement
- Is Your Spouse Hiding Assets?
- Challenging Prenuptial Agreements in Texas
We are here to help. Contact us through our website or call (254) 220-4225 today!