Are you thinking about securing your financial future with a prenuptial or postnuptial agreement? It’s a smart move that can set a solid foundation for your marriage and your financial security. However, creating an agreement that complies with Texas’ legal standards and suits your personal needs requires careful consideration.
At Jennifer Wiggins Moore Family Law, P.C., we have the knowledge to help you craft a marital agreement that reflects your circumstances and goals. Our team is here to assist you with drafting, reviewing, or amending your prenuptial or postnuptial agreement. We invite you to contact us for a free initial consultation to discuss how we can help you create a plan that protects your interests.
What Is a Prenuptial Agreement?
A prenuptial agreement is a legal contract that a couple signs before they get married. This agreement sets out the rights and responsibilities each person has over their property. It also details what will happen to their property and finances if their marriage ends through separation, divorce, or death. Couples decide on these terms while planning their future together. When partners sign prenuptial agreements, they agree on financial matters and responsibilities upfront, which can prevent disputes in case things don’t work out as expected.
What Is a Postnuptial Agreement?
A postnuptial agreement is similar to a prenuptial agreement, except that a couple signs it after they are already married. This legal contract specifies how the couple will handle their finances and property during their marriage and how things will be divided if they separate or divorce. The agreement can also address changes in the couple’s financial situation after marriage, like the acquisition of new assets or changes in income.
Common Misconceptions About Marital Agreements
Many people believe that prenuptial and postnuptial agreements are only for the wealthy or those who don’t trust each other, but this is not true. These agreements can benefit anyone who wants clarity about financial rights and responsibilities in a marriage. They can help any couple with planning and managing their finances, no matter how much they own.
Another common misconception is that having a marital agreement means you expect your marriage to fail. This is also false. Think of a marital agreement as a financial planning tool. It allows couples to discuss and organize their financial matters openly and honestly from the start. This can actually strengthen a relationship by reducing anxiety over potential financial disputes in the future.
Some also mistakenly think that these agreements are set in stone. In reality, both prenuptial and postnuptial agreements can be updated or completely changed as long as both spouses agree and sign a new document. Changes in financial status, family circumstances like having children, or simply changing your mind are all valid reasons to modify an agreement.
Lastly, it’s a common error to assume these agreements can include terms about child support or custody. Texas law does not allow marital agreements to decide child support or custody issues. These matters are always decided based on what is best for the child at the time of the divorce or separation, regardless of what any agreement says.
The Benefits of Having an Agreement
Having a prenuptial or postnuptial agreement offers several benefits that can help both partners in a marriage. One major benefit is the protection of individual assets. A marital agreement can clearly outline what belongs to whom before the marriage, which can be especially important for those who enter marriage with significant assets or inheritances. It allows the original owner of any personal property to keep that property if the marriage ends.
Another benefit of these agreements is the clarity they provide regarding financial responsibilities during the marriage. By reviewing each other’s finances and setting these terms early, both partners can gain a better understanding of how money matters will work in the relationship. This can bring couples closer together and prevent misunderstandings or conflicts about money, which are common in many marriages.
Marital agreements also simplify the process of dividing property if the marriage ends in divorce. Since the agreement already spells out who owns what and how to handle finances, there’s less to argue about. This can make the divorce process faster and less stressful.
Lastly, these agreements can offer peace of mind. Knowing that you have a plan in place can ease concerns about the financial impact of potential future changes in your relationship. This security can allow both partners to focus more on building a strong, healthy marriage without lingering worries about financial disputes.
How to Create a Legally Binding Prenup or Postnup in Texas
Prenups and postnups must meet several specific requirements to be considered legally valid and enforceable. Here’s an overview of these requirements:
- Voluntary and Fair: Both parties must enter into the agreement voluntarily for it to hold up in court. An agreement that seems extremely unfair at the time of signing might not be enforceable. Also, if one party didn’t have a full disclosure of the other’s assets or debts and did not waive the right to more information in writing, the agreement could be invalid.
- Writing and Signing: Both prenuptial and postnuptial agreements must be in writing. Texas law does not recognize oral agreements in this context. Each party must sign the agreement willingly and without any pressure.
- Contents of the Agreement: Couples can decide on a variety of matters in these agreements. You can define each party’s rights and responsibilities concerning any property, regardless of when or where it was acquired. The agreement can cover property management, property disposition upon separation, divorce, or death, and even the elimination of spousal support. However, an agreement cannot negatively affect a child’s right to support.
- Amendment and Revocation: After marriage, you can only change or revoke a prenup or postnup with a written agreement signed by both parties.
Contact Our Keller Family Law Attorney
Take control of your financial future now by reaching out to Jennifer Wiggins Moore Family Law, P.C. We offer a free initial consultation to discuss how we can help you create an agreement that suits your unique needs and goals.
Jennifer Wiggins Moore Family Law, P.C., serves clients in Keller, Fort Worth, Alliance, Presidio, North Fort Worth, and throughout Tarrant County.
