Postnuptial Agreements in Texas
Previous blog posts have written about the reasons individuals should consider premarital or prenuptial agreements when thinking about getting married. Another type of written contract that can be entered into between two parties that are already married is a post nuptial agreement.
Both of these agreements are written documents that dictate the way that a couple has voluntarily decided to divide their assets and property in the event of divorce or death. The prenuptial agreement is an agreement entered into by two people prior to marriage that is not effective until they are married. The postnuptial agreement is one that is entered into after two people are married and is effective immediately after it is executed.
In Texas, all property acquired during the marriage is considered to be community property and is usually divided equally between the parties, unless some other division is deemed to be appropriate the court. By using a postnuptial agreement a couple can partition or exchange all or some portion of their community property between themselves, including the income or earnings from the divided property.
Other reasons for entering into postnuptial agreements are:
• to ensure that a family business stays in the family
• to protect children, property and obligations from prior marriages
• to protect one marriage partner from a heavy debt load accumulated by the other over the course of the marriage
• to provide security for parties in a troubled marriage
In order to be enforceable, postnuptial agreements must in writing and signed by the parties agreeing to its terms. Under Texas law, a party may challenge the enforceability by proving that they did not sign the agreement or that it was signed involuntarily. They may also challenge the validity of the agreement if it was unconscionable on its face or the challenging party was not given a full and accurate disclosure of the assets and financial obligations of the other party.
If you feel the need for entering into a postnuptial agreement or just want to ask questions about whether it would be beneficial, it is very important for you to seek the advice of an attorney experienced in family law matters.
Allan R. Manka is an experienced San Antonio postnuptial agreement attorney, and handles a wide array of family law matters. For nearly 40 years, he has devoted his entire practice to helping clients in San Antonio and the surrounding areas of Pleasanton, Jourdanton, Hondo, Boerne and New Braunfels, in addition to serving those at Lackland Air Force Base, Randolph Air Force Base and throughout the state.
Our firm wants to make your decision to let us represent you, one of the best ones you have ever made. Along with our experienced staff, we promise to provide you with an honest evaluation of your case, keep you informed about the status as it progresses and give you the best cost effective representation possible.
Please contact us at 210-807-8629 or 866-621-7085 toll free to make an appointment for your confidential, no obligation consultation.