A postnuptial agreement, also referred to as a “postnup,” is a legal agreement that is consensually created by couples after their marriage. While you may be familiar with a prenuptial agreement, which is signed before marriage, a postnuptial agreement is created after the marriage has already begun and addresses any remaining issues. It’s important to understand how postnups work to determine whether one is right for you and your marriage.
An experienced family law attorney from the Stange Law Firm can help you evaluate your marriage and determine if creating a postnup can be a useful tool for you.
What Is a Postnuptial Agreement in Texas?
Postnuptial agreements are legally binding contracts between two active spouses. These agreements define how certain assets, debts, and other matters will be handled during the marriage or if the spouses were to ever divorce. The state of Texas operates under community property laws, which means that postnuptial agreements can be used to clarify which assets apply to this law and which are considered separate property.
When Do You Need a Postnuptial Agreement in Texas?
Creating a postnuptial agreement can be a valuable tool to address financial matters and keep a marriage strong. By removing any anxieties or uncertainties about individual assets, couples can have peace of mind knowing that their belongings are protected even if the relationship takes a turn. Some of the most common reasons Texas residents create postnups include:
- To Protect Separate Property
Any individual assets that a spouse acquired before their marriage are considered separate property in Texas. Separate property can also include inheritances. These assets are not subject to Texas community property laws, and they cannot be split during a divorce. To ensure your important items are identified as separate property, you can create a postnup that classifies your various assets.
For example, if one spouse inherits a piece of real estate property from another family member that has nothing to do with their spouse, putting this item in a postnuptial agreement can make it legally clear that the asset will remain solely theirs, even if the marriage were to end. Without securing this protection, the individual risks disputing who truly owns the asset during a divorce or if it is subjected to Texas’s community property laws.
- To Address Changes in Financial Circumstances
Life can be unpredictable, especially when it comes to your financial status. When things change, it can be helpful to revisit the terms of your marriage to protect yourself if a divorce ever becomes a reality. For example, if you and your spouse took on a new loan together, you might want to specify this in a postnup to avoid being stuck with it if you divorce.
- To Rebuild Trust After Marital Issues
When a couple experiences marital issues like infidelity or financial disputes, it can significantly shake the foundation of trust in a relationship. Creating a postnuptial agreement after this happens can help to make amends and serve as a practical step toward rebuilding the trust that was broken. For example, if one spouse has a habit of overspending, the agreement can set clear responsibilities for who should be managing household expenses.
- To Better Plan for Children
It’s common for family dynamics to evolve after a couple gets married, especially when they make the decision to have children. When this happens, a postnuptial agreement can help the married couple plan for their children’s future.
For example, while it can be uncomfortable to think about divorce at the same time you are planning to expand your family, it might make you more comfortable to understand how assets would be divided to ensure the child is provided for. Postnuptial agreements can also outline what funds are set aside collectively to pay for a child’s future education or medical expenses.
FAQs
Q: Can a Postnuptial Agreement Be Used to Address Spousal Support in Texas?
A: Yes, you can use postnuptial agreements as a tool to address spousal support. For example, couples can agree on whether or not one spouse will receive support in the event of a divorce and, if so, how much they would receive and for how long. Solidifying this earlier on can help establish clear expectations between couples and avoid disputes in the future. However, the court in Texas has the right to reject any provisions that violate state laws or seem unfair.
Q: Can a Postnuptial Agreement Protect Future Income or Assets?
A: Yes, you can also leverage postnuptial agreements to protect any future income or assets you may acquire that you cannot presently account for. For example, if you anticipate earning a promotion one day or an inheritance from a family member, you can lay out guidelines on how those instances should be treated. Engaging in this type of proactive planning can help prevent unnecessary disputes and ensure both parties understand their financial responsibilities.
Q: Are Postnuptial Agreements Enforceable If One Spouse Does Not Fully Disclose Assets?
A: No, if one spouse has been found guilty of hiding certain assets, it will likely avoid the previously agreed-upon conditions of a postnuptial agreement. Texas law does not require a spouse to move forward with terms they agreed to under false pretenses. For example, a spouse may not have agreed to split their share of an investment if they were aware the other spouse had more assets they could rely on for financial assistance.
Q: Can a Postnuptial Agreement Be Changed or Revoked in Texas?
A: Yes, it is possible for a postnuptial agreement to be changed or revoked if both spouses agree to make that decision. To finalize this, the changes or decision to revoke the agreement must be in writing and signed by both parties. Having this flexibility is another reason why postnuptial agreements have become a popular tool for married couples, as it allows for marital planning to be just as fluid as the dynamics of a family and relationship can be.
Contact Stange Law Firm Today
If you and your spouse are curious to learn more about postnuptial agreements and whether one is right for you, contact the Stange Law Firm today. Our deep experience in this space allows us to identify if and when a postnuptial agreement would be of service to married couples and their unique circumstances.