What Is a Postnuptial Agreement? What Are the Requirements for Validity?
If you’re considering getting married and you’re either bringing substantial assets into the marriage or have children from a prior marriage, you may have considered having your new spouse sign a prenuptial agreement. But what if the time gets away from you and you get married before you can protect yourself? When can you use a postnuptial agreement to ensure that you don’t put your hard-earned net worth at risk?
Prenuptial and Postnuptial Agreements—More Attractive than You May Think
There’s a stigma around prenuptial and postnuptial agreements, a sense that it takes all the romance out of a relationship and makes marriage mostly a business proposition. Surprisingly, though, according to a report on Axios.com, one of every two people considering marriage in the United States would not object to entering into such an agreement.
What Is a Postnuptial Agreement and How Does It Differ from a Prenuptial Agreement?
As the terms suggest, a prenuptial agreement is one that has been finalized and executed prior to marriage and a postnuptial agreement is put in place after the marriage ceremony. Often referred to as a marital property agreement, a postnuptial agreement must comply with the following requirements to be enforceable in the Lone Star State:
- It must be in writing and must be signed by both parties
- Both parties must voluntarily enter into the agreement—Evidence of fraud, misrepresentation, duress or coercion by either party may invalidate the agreement
- The terms of the agreement must be reasonable and fair
- The parties must fully disclose all debts and assets
The Potential Uses of a Postnuptial Agreement in Texas
One of the most common uses of a postnuptial agreement is the identification of separate property, which will be exempt from division under the community property laws in Texas. In addition, the parties may use a postnuptial agreement to:
- Facilitate or clarify estate planning
- Ensure that children from prior marriages receive assets
- Establish terms of spousal support or alimony
Contact DTX Family Law for Sound Advice Regarding a Postnuptial Agreement
At DTX Family Law, we built our reputation and practice by focusing on the needs and best interests of our clients. We have an extensive knowledge and understanding of Texas divorce laws and procedures, including any issues related to postnuptial and prenuptial agreements. We’ll carefully explain your rights and options, as well as your chances of success, so that you can make good decisions for you and your family. Chrysandra is board-certified by the Texas Board of Legal Specialization, an honor earned by less than one of every ten family law attorneys in the state. To schedule an appointment with a proven and effective Texas family lawyer, visit our new website or call our offices at 940-566-0606.
Handling Divorce and Family Law Matters throughout Denton and the surrounding communities, including Denton, Collin, Wise, Tarrant and Cooke counties and the municipalities of Keller, Euless, Hurst, Colleyville, Bedford, Crowley, Lake Worth, Benbrook, Haslet, Saginaw, Watauga, Richland Hills, White Settlement, River Oaks, Forest Hill, Kennedale, Westover Hills, Lakeside, Pelican Bay and North Richland Hills