A postnuptial agreement is a contract made between spouses during the course of their marriage that dictates the division of property in the event of a divorce. While most people have heard of prenuptial agreements that are often arranged with attorneys, postnuptial settlements have been less common. Divorce attorneys in Texas are now finding that more people are interested in such arrangements and are receiving requests for this type of settlement than ever before, for a number of reasons.
What Are Postnuptial Agreements?
Simply stated, a postnuptial agreement is a legal contract between spouses that dictates how their marital property should be divided if they decide to divorce. These arrangements must be prepared by divorce lawyers or family law attorneys, with each spouse represented by their own lawyer. They are a binding record of the couple’s wishes that will be legally upheld if there is a divorce.
Why Are More People Making These Arrangements?
Postnuptial agreements have become more popular in recent years for a variety of reasons such as the following:
- Thoughtful Pre-Planning - Even in the best circumstances, the worst time to talk about dividing up marital property is when in the midst of a divorce. Yet this is when most couples end up doing. A postnuptial contract that is prepared in advance, through the assistance of an experienced divorce attorney can be done while spouses are on good terms with each other and able to think more clearly. This encourages a fair distribution of marital assets and reduces the stress and anger felt when forced to divide assets during a divorce.
- No Prenuptial Agreement Done - Many lawyers find that couples are very turned off by the idea of a prenuptial agreement because they feel it casts a negative view on their upcoming marriage. Some people may avoid such a contract if they feel doing so suggests that the spouses do not trust each other and that this is a business and not an emotional connection. A postnuptial settlement set up with the help of attorneys can be an effective option to a prenuptial contract. These contracts are also used to update existing prenuptial agreements.
- Protect Financial Interests - Whether it is intentional or not, divorce lawyers recognize that some divorces can be highly emotional. Spouses who have large investments, own businesses, or have other considerable assets may decide to choose a postnuptial settlement to dictate things such as business ownership, income production, disbursal of retirement accounts, and even ownership of marital debt.
Divorce attorneys hope that most couples are able to have a happy marriage and the need to divide marital property will never arise. If the unexpected should the time come, Texas lawyers find that having a postnuptial agreement already in place can reduce both stress and the need for negotiations at an already stressful time.
This type of contract can prevent future conflicts and promote a harmonious marriage, even if spouses do end up seeking the services of divorce lawyers later on. Considering the various advantages, more couples are finding peace of mind in filing this settlement with their attorneys and adjusting it as necessary throughout the duration of the marriage.
Foreman Family Law, PLLC
309 North Washington Avenue, Suite 12
Bryan TX 77803