If you entered into a marriage but forgot to get a prenup, you can still create a postnuptial agreement, which is essentially the same thing as a prenup created after marriage in Texas.
A postnup achieves many of the same goals as a prenuptial agreement. It is advisable to seek the legal counsel of a Georgetown divorce attorney to help you create a valid and enforceable postnup after marriage.
Can You Get a Prenuptial Agreement After Marriage?
The word “prenuptial” literally means “before the marriage.” Therefore, it is not possible to get a prenuptial agreement after marriage. However, that does not mean that you cannot create an agreement to protect your property once you are already married.
If you have a prenuptial agreement, the court may have reason to invalidate it. Click here to learn more.
You can still get a postnuptial agreement, which means an agreement signed after marriage. It is not uncommon for fiancés to sign prenuptial agreement and newlyweds to create postnuptial agreements to address the following issues:
Who owns the property during the marriage;
Who is responsible for managing the property during the marriage;
How property would be divided in the event of death; and
What would happen to the property in the event of either spouse’s death?
Basically, a postnup helps you achieve the same goals as a prenuptial agreement. The only difference between a prenup and a postnup is that the former is created before the marriage.
Why Do You Need a Prenuptial or Postnuptial Agreement in Texas?
An increasing number of individuals are getting prenuptial and postnuptial agreements in Texas. However, many are reluctant to create a prenup or postnup simply because suggesting such an agreement could be interpreted as a sign that the fiancés do not expect the marriage to last.
Many couples in Texas can benefit from creating a prenuptial or postnuptial agreement due to the state’s community property law. Under the state’s community property doctrine, all assets acquired during the marriage are considered community property unless either party can prove that a particular piece of property is separate property.
Without a prenuptial or postnuptial agreement, the judge may divide community property in a 50/50 split if doing so is just and right. That means that all of your assets, including bank accounts, salaries, retirement savings, business interests, automobiles, and other types of property may be subject to division upon divorce.
Both a prenuptial and postnuptial agreement can specify how property will be divided in the event of a divorce. It is advisable to seek the legal counsel of an experienced attorney to ensure that your assets remain your separate property if you get a divorce and prevent your spouse from being able to claim your separate property.
How to Create a Valid and Enforceable Prenuptial Agreement in Texas?
A prenuptial agreement is considered valid if it meets all of the following requirements:
The agreement is in writing;
The contract is signed by both parties;
Both parties fully disclose their assets and liabilities before signing the agreement; and
Both parties waive the right to further disclosure.
Contact a skilled attorney to help you create a valid and enforceable prenuptial agreement or postnup in Texas. If the prenup or postnup does not meet the above-mentioned requirements, it can be deemed invalid by the court.
When Can You Get a Prenuptial Agreement in Texas?
If you are not married yet, you and your soon-to-be spouse can sign a prenuptial agreement before marriage. A prenup is a legally binding agreement between two individuals who are not married yet but intend to enter into a marriage.
A prenuptial agreement outlines how the property acquired and owned by each spouse before the marriage will be handled and how assets acquired during the marriage will be managed and divided in the event of divorce.
Since Texas follows the community property doctrine when it comes to dividing assets and liabilities in the event of divorce, many couples can benefit from getting a prenup (or postnup after the marriage).
One of the many benefits of a prenuptial agreement is that it can establish what each spouse owned before the marriage. Under Texas’ community property law, assets owned by a spouse before the marriage are considered separate property and not subject to division during divorce proceedings.
Often, proving who owned what before the marriage can be complicated, especially when the marriage lasts many years or decades and separate property becomes commingled with community property. In that case, a prenuptial agreement can clearly outline which assets will remain spouses’ separate property if they get divorced.
When Can You Get a Postnuptial Agreement in Texas?
As mentioned earlier, you cannot get a prenup if you are already married. However, you could still sign a postnuptial agreement which can include the same types of provisions as a prenup.
Basically, the only difference between a postnup and prenup is your marital status at the time of signing the agreement. When you sign a prenuptial agreement, you are single. When you create a postnuptial agreement, you are married.
A postnuptial agreement can address the same matters as a prenup, including identifying how property will be owned, managed, and split between the parties.
For this reason, if you want to protect your financial interests and property but you cannot get a prenuptial agreement because you are already married, you can sign a postnuptial agreement.
Speak with a Georgetown Divorce Attorney Today
Prenuptial agreements are commonly used by couples in Texas before marriage, while married couples sign postnups after the marriage.
If you are considering getting a prenup or postnup in Texas, contact a skilled attorney to help you draft and sign a valid and legally binding agreement. Get a consultation with our Georgetown divorce attorneys at The Law Office of Brett H. Pritchard to discuss your unique situation. Call 254-501-4040 or contact us online today.