Contact Our Firm Today

Tips for creating a binding postnup

| Nov 21, 2018 | Family Law |

Postnuptial agreements can be quite helpful in a number of ways. Some couples look at a postnup as a way to marriage because it can create a solid financial plan that outlines responsibility and obligation of both parties. Conversely, couples who are contemplating divorce may want to put together a plan of how the divorce process would be done, thus mapping out what the divorce would look like.

It is best to get it in writing

Talking these things out is a good thing, but it is better to get something in writing. Here are some tips on how to make sure the agreement is as binding as possible.

  1. Make sure the agreement is fair: If it happens that the couple files for divorce, the prenup has a better chance of standing up in court if it is fair and equitable.
  2. Be honest: Do not try to hide any assets. The contract is compromised if it is later determined that marital assets were hidden. If this happens, a judge will often include substantial penalties that are more than the worth of the hidden assets.
  3. Each side should explain their goal for the postnup: This can show an understanding of the agreement drafted at the time, and the initial intention for doing it. It may even help the couple articulate their worries and issues.
  4. Each party should have an attorney: While one attorney can draft up a simple agreement, no attorney can ethically represent both parties. Attorneys looking after the rights and interests for each party ensure a measure of fairness and can remove the appearance of one side taking advantage of the other.

A solution for moving forward

Each spouse will have different goals. Perhaps the husband is uncomfortable with the spending habits of his wife, or the wife is worried about her husband leaving a well-paying job to start a new company. By putting it in writing, couples can find peace of mind for moving forward. An experienced Board-Certified Family Law expert attorney in Collin County, Dallas County or Denton County, or elsewhere throughout Texas can help with this process.

Archives