Many couples do not expect that their marriage will end in divorce. However, when dealing with a divorce, it would be wise to consider a postnuptial agreement. While many people are familiar with a prenuptial agreement to protect property and interests prior to marriage, a postnuptial agreement operates in many of the same ways. If you need assistance with drafting a postnuptial agreement, you should consult with an experienced Fort Worth postnuptial agreement lawyer as soon as possible.
The Queenan Law Firm, P.C., is here to offer you the legal representation you need to draft a postnuptial agreement that protects your interests. Our firm understands that a divorce can be extremely difficult for a family, and we are here to help you through this challenging time. To schedule a confidential legal consultation to discuss your postnuptial agreement, you should contact the Queenan Law Firm, P.C., at (817) 476-1797. You may also use our online submission form to schedule your consultation.
How Postnuptial Agreements Are Enforced in Fort Worth, TX
To avoid the commingling of property, prior to a marriage, a couple may agree to sign a prenuptial agreement. Prenuptial agreements are great for protecting property acquired before a marriage or even an interest in a business owned by a spouse. However, prenuptial agreements typically do not address property that has not yet been acquired during a marriage. As a result, a couple may elect to use a postnuptial agreement.
A postnuptial agreement is a legal document that is typically used to layout the distribution of marital property in the event of a divorce. Texas is known as a community property state. This means that the property that is accumulated during the marriage is owned by both spouses. Due to Texas community property laws, postnuptial agreements have become extremely popular among couples that are going through a divorce.
While postnuptial agreements are enforceable in Texas, it would be wise for couples to adhere to the following guidelines when drafting a postnuptial agreement. One guideline to follow is that each spouse should retain a separate attorney when negotiating the postnuptial agreement. It would be a conflict of interest for one attorney to represent both spouses as one spouse may feel that the other received a better deal.
Additionally, if one spouse does not have an attorney, it could lead to another legal claim where the unrepresented spouse alleges that the represented spouse had more power in the negotiations. Each spouse should also consider having the contract reviewed by an uninterested third party, possibly another attorney.
It is also important to note that a postnuptial agreement cannot be executed if both former spouses cannot agree on terms. If former spouses are not cordial enough to decide on the terms of an agreement, the divorce would likely have to be handled in a court of law.
Our firm can help you get started on drafting an enforceable postnuptial agreement that you and your former spouse will deem fair. To learn more about the uses for a postnuptial agreement, you should continue reading and speak with an experienced Fort Worth postnuptial agreement attorney today.
Reasons to Draft a Postnuptial Agreement in Fort Worth, TX
As mentioned, a postnuptial agreement can help a former couple determine what marital property will be distributed between each spouse. However, a postnuptial agreement has a number of other benefits for a couple that chooses to divorce. The following are some benefits provided by executing a postnuptial agreement.
Shielding a Former Spouse from Debt
One benefit of a postnuptial agreement is the ability to shield a spouse from debt. For example, if one spouse accumulated a large amount of debt during the marriage, a postnuptial agreement can ensure the responsibility for that debt is only assigned to one spouse.
Reshaped Interests in a Family Business
It is fairly common for spouses to start a business together. However, when a marriage begins to fail, it is important to define roles for each spouse for the business. Assigning tasks for a joint business will ensure that the company’s interests are not affected by the divorce.
Alternatively, a divorcing couple could decide to dissolve a business. Under these circumstances, a postnuptial agreement can help divide the assets and debts of the business between the spouses.
Protect Inheritance of a Child
Postnuptial agreements also offer the benefit of being used to protect the inheritance of a child. Many couples may enter a marriage with a child from a previous relationship or marriage. However, that spouse may be worried that a sizable portion of their estate could be lost during a divorce. A postnuptial agreement allows a spouse to set aside property for the benefit of a child.
There are many other uses for postnuptial agreements that are not discussed above. If you believe that you need a postnuptial agreement to protect your assets and other interests, you should work with our firm to fill your legal needs.
Contact Our Experienced Fort Worth Postnuptial Agreement Attorney Today
If you require legal assistance to negotiate a postnuptial agreement with your former spouse, you should contact an experienced Fort Worth postnuptial agreement attorney immediately. The Queenan Law Firm, P.C., understands the stress of a divorce, and we are here to help you preserve your interests. To schedule a legal consultation to discuss your case, contact the Queenan Law Firm, P.C., at (817) 476-1797. You may also contact the firm online.