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Reasons to create a postnuptial agreement

On Behalf of | Jun 26, 2020 | Divorce

Couples in Texas and throughout the country may benefit from creating a prenuptial agreement. However, if there isn’t enough time to complete such an arrangement, a married couple can choose to enter into a postnuptial agreement that allows the parties to the contract to determine how their assets will be split in a divorce. It is important to note that these types of deals are generally crafted by those who are trying to fix issues in their marriages.

However, any couple can benefit from such an arrangement, assuming that it is tailored to meet their specific needs. For instance, a postnuptial agreement may protect an individual from being responsible for debts a spouse accumulates after a wedding takes place. Those debts may be related to gambling, starting a new business or going back to school in the hopes of getting a better job.

Individuals who are dropping out of the workforce to care for a child or support a spouse may also want to consider creating this type of contract. Doing so may ensure that they aren’t left without the financial resources needed to support themselves or their children if a divorce occurs. Prior to entering into any pact with a spouse, it may be a good idea to determine whether it will be enforced during a divorce proceeding.

Individuals who are going through the divorce process may want to hire an attorney to help represent their interests. An attorney may be able to review a prenuptial or postnuptial agreement to determine if it is still valid. If it is not, legal counsel may help a person negotiate a new divorce settlement that adheres to state law. In most cases, parenting plans cannot be implemented until they are reviewed and approved by a judge.