The Value Of A Prenuptial Or Postnuptial Agreement
While prenuptial (prenup) and postnuptial (postnup) agreements have become much more common, many people are unaware that, stigma aside, these agreements provide benefits to both parties.
At Law Office of Diane St. Yves, PLLC, we regularly prepare these agreements for couples. Attorney Diane St. Yves is board certified in Texas family law and has decades of experience with these types of agreements. She, attorney Ashley Coleman and our staff are prepared to answer your questions and guide you through the process.
What Does A Prenup Or Postnup Do?
Whether or not your create an agreement before marriage (a prenup) or after your marriage (a postnup) is up to you. The value of this type of agreement is that it essentially “lays the cards on the table.” Both people are setting forth what they bring the marriage and what they expect to leave with should the marriage not work out. The benefit of making an agreement with each other at this stage is that you are both clear-headed. This means you are not making rash, emotionally fueled decisions that may not be in your best interest.
Most agreements contain these elements:
- A list of assets each person is bringing to the marriage – This can detail which assets are separate (owned and to be kept by one person) and which are to be considered community property (part of the marriage and to be divided in a divorce).
- A list of debts – This list can also detail “who owes what” should the marriage dissolve.
- An explanation of how spousal support will work – It can stipulate either temporary or long-term support should the marriage dissolve.
- A provision for children of a previous marriage or relationship
- A provision for separate property, heirlooms, inheritances and future gifts
A prenup or postnup also can work to ensure that a divorce is uncomplicated and less costly, because as a couple you’ve already decided and agreed to the terms. Some issues, such as child custody, are not enforceable in these agreements.
Why Work With An Attorney?
Prenups and postnups need to be created by a skilled legal professional who has the foresight to provide competent counsel. Both parties need to understand and agree to these contracts. An attorney who has years of experience and a proven track record can verify that your agreement meets the legal requirements of Texas and is valid. As attorneys who also provide estate planning, we are able to advise and make updates to your will or other documents.
Get In Touch For Assistance With Your Agreement
We are here to answer your questions and assist with your process. Call 281-816-4258 and talk with us. You can also reach our team via online form. We serve clients in the Greater Houston and surrounding areas along with South Texas and the Rio Grande Valley.