Most people have heard about prenuptial agreements, but it is also possible to reach a postnuptial agreement with your spouse. A postnuptial agreement can accomplish the same goals as a prenuptial agreement. Both documents can specify how property is to be divided should a divorce occur. The only real difference is that a prenuptial agreement is reached before the couple is married, and a postnuptial agreement is reached after the couple is married. When might a couple want to conclude a postnuptial agreement?
In Texas, property acquired during a marriage is considered community property, and is usually subject to a 50-50 division when a couple divorces. A postnuptial agreement enables a couple to divide community property on some other basis. Some of the reasons you might want to conclude a postnuptial agreement include the following:
- You want to ensure that your children from a previous marriage obtain their rightful share of your estate’s assets.
- You want to protect your initial investment of a business that was formed with separate assets.
- You want to make sure that a family business stays in the family.
A postnuptial agreement can provide both financial and emotional security during a marriage. But it’s possible to challenge postnuptial agreements on several grounds. Most significantly, they must be fair, not concluded under duress, and all assets and obligations must be disclosed to the other spouse before the agreement is signed.
An attorney at Scott M. Brown & Associates can review your situation and advise you of your legal options. We can also draft a postnuptial agreement, review a proposed agreement, or represent you in litigation involving a contested postnuptial agreement.