Most of us are familiar with a prenuptial agreement, but a growing number of couples are turning to postnuptial agreements. The concept is the same, except that the couple waits until after the wedding day. Some plan it that way, while others see a need for one later.
This agreement can be put in writing with the help of an experienced Board-certified Family Law expert attorney in Collin County, Dallas County, Denton County or elsewhere throughout Texas. These legal professionals can help couples determine how to divide assets, handle custody issues, resolve any money related issues, or address unique circumstances. They are particularly helpful here in Texas because legal separation is not allowed under state law.
Issues a postnuptial agreement can address
While the most common premises are dividing assets, alimony or spousal maintenance, as well as retirement accounts, but there are other reasons as well:
- Assign certain assets or debts to a spouse
- Protect one spouse from inheriting debt
- Designate specific roles in a family business
- Create legal and financial protections if a spouse subsequently dies
- Repay a parental gift or loan
- Revise a prenuptial agreement
- Address a significant shift in the family finances
- Address a growing conflict within the marriage
- Partition otherwise community income into separate property of a spouse
Addressing your needs
These agreements will provide a template for how a couple’s divorce will look. And as with prenuptial agreements, there can be time limits or sunset clauses. Whatever the reason, the needs of the couple dictate its purpose and results. These agreements may even help save a marriage by putting it on firmer financial ground and by resolving financial concerns that could continue to aggravate one or both spouses during the marriage.