Can a Postnuptial Agreement Ensure My Marriage Lasts?
Texas prides itself on its happy marriages. In recent years, the state divorce rate has dropped while the marriage rate has steadily increased. One of the many reasons for this is that couples today feel more open to communicating and being honest. Communication often involves discussing what will happen in a “worst-case scenario.” As the saying goes, “Hope for the best, plan for the worst.” In the past, many couples put off discussing potentially unpleasant marital situations. This left them unprepared in the event the worst really did happen.
Divorce is often the worst thing that can happen to a couple, so it’s no wonder happily married people don’t like discussing it. However, discussing what might happen if you break up can create a stronger marriage. This is because knowing what you would do if your marriage ends prepares both parties for the possibility. Part of formalizing plans for the possibility of a divorce is signing a postnuptial agreement. While many people are unaware of postnuptial agreements, they can be a valuable tool for securing your marriage. This is why it’s invaluable to consult a family law attorney to learn how a postnuptial agreement can strengthen your marriage.
What is a Postnuptial Agreement?
Most people are aware of prenuptial agreements. “Prenups” are contracts signed before a marriage. Prenuptials outline what happens to marital assets in the event of a divorce. Prenups are valuable in community property states like Texas. Community property states consider assets acquired during a marriage to belong jointly to both parties in a marriage.
In a divorce, ownership of every asset must be determined. This can lead to long, drawn-out legal battles. Prenuptial agreements help couples avoid these battles by outlining what happens ahead of time in the event of a divorce. This is why prenups are also called “what’s yours is yours, and what’s mine is mine” agreements.
Postnuptial agreements work similarly. Couples decide what they would want to happen to their assets in the event of a divorce and then put it into writing. Postnuptial agreements do not anticipate a divorce happening. Instead, they function as something of an insurance policy. Postnuptial agreements let married couples relax, knowing that if the worst were to happen, it’s already been taken care of. Postnuptial agreements can cover a wide array of potential concerns, including but not necessarily limited to:
- Asset Division
- Spousal Support
- Inheritance Rights
- Business Asset Division
Our experienced family law attorney can review your current familial and economic situation and determine how a postnuptial agreement can best serve your marriage.
How Can a Postnuptial Agreement Protect Me?
Postnuptial agreements provide couples and the individual parties in a marriage with special security. This is because a postnuptial can be used to outline precisely what happens in the event of a divorce.
For example, say one partner in a marriage inherits a large sum of money during the marriage. Inheritances are considered individual property unless the money is deposited into a joint checking or savings account, in which case it can be regarded as community property. Most married people who inherit a large amount of money will usually share that money with their spouse. However, in the event of a divorce, this money could be split between the couple. A postnuptial agreement can stipulate that inherited money remains the sole property of the inheriting spouse in the event of a divorce.
Postnuptial agreements can also outline whether or not one spouse owes the other alimony or financial support and how any debt might be divided between the parties. Postnuptial agreements can also outline what happens to any potential business interests, or how ownership and operation of a company may be handled.
Who Benefits Most from Postnuptial Agreements?
Anyone can benefit from a postnuptial agreement. No matter how much money or assets you own, a postnuptial agreement can keep you safe. However, some individuals benefit more from postnuptial agreements than others.
Older people tend to accumulate both more assets and more debt as a result of living longer lives. A postnuptial agreement can outline how these assets and debts will be divided. Older people also tend to face more health issues. If necessary, a postnuptial agreement can outline how particular medical debt and long-term care might be handled during a divorce.
People who have been married before also tend to benefit from postnuptial agreements. This is because a postnuptial can be used to outline the role of children from previous marriages in asset distribution in the event of a divorce. A postnuptial agreement can privilege children from your current marriage or establish how you wish children of earlier marriages to collect assets.
These are only a few situations in which a postnuptial can be especially beneficial. All married couples can benefit from a postnuptial agreement, and they should consider consulting a family law attorney to learn how a postnuptial might be right for them.
What Should I Do to Get a Postnuptial Agreement?
Postnuptial agreements are like disaster preparedness plans for marriage. Just because you plan for something negative doesn’t mean you hope for or even want it to happen. If you’re married in San Antonio, call Bergmann Law Firm, PLLC, today to discuss how a prenuptial agreement can help your marriage.
William Bergmann is a proud Texan and former schoolteacher who highly values family. He wants to see his clients live long, happy lives with long, happy marriages. As a family law attorney, William Bergmann understands a postnuptial agreement can help strengthen a marriage by removing stress and uncertainty. He works one-on-one with every couple to ensure the terms of a postnuptial are mutually beneficial. He believes a postnuptial agreement can be the best form of insurance a couple can obtain to help ensure the longevity of their marriage.
Going to see an attorney as a married couple can be one of the best things you’ve ever done for yourself or your marriage. If you or a loved one are currently married and believe a postnuptial may be right for you, don’t hesitate to contact Bergman Law Firm, PLLC today at 210-759-4336 to schedule your free consultation.
