Many Texas residents are deciding to marry later in life after they’ve established careers and purchased property. They may remarry after having children with a previous partner and work to build a blended family. The changing face of marriage has also meant that prenuptial agreements have become far more common for a wider range of couples. They have become a popular way for people to think about the future and plan for a potential divorce without relying on Texas’ community property statute or the family courts.
While few people want to consider divorce before they marry, the financial practicalities involved can make prenups appealing. However, some of the same issues that inspire spouses to create a prenuptial agreement can arise after they’re already married. A postnuptial agreement can provide a solution in such cases. More than prenups, postnups may feel like an early introduction to divorce negotiations. Therefore, it’s important for each spouse to have their own legal representation to help ensure a fair outcome that holds up in court.
There are very practical reasons why a married couple may consider a postnup. One spouse might expect to inherit a large asset, like a family home. They do not want to wall off the inheritance from the marriage, but they also want to make sure the property stays in the family in case of divorce. Small business owners may also have concerns about the potential division of their companies, especially if they’re looking for loans or investments.
Marriage and divorce are emotional issues, but they’re also matters of major financial importance. That’s why planning can be important to protect both spouses. A family law attorney can represent a spouse throughout the process of negotiating a fair postnuptial agreement.